Advanced technologies allow analysis, prediction and mapping across multiple sectors such as agriculture, automotive and healthcare, says Frost & Sullivan
SANTA CLARA, Calif., Sept. 9, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Digital Transmission Driving the Geospatial Services Market, 2020, covers eight industry use cases and their developments in terms of new technology disruptions, business models, application areas, and trends entering the market. It forecasts that the demand for enhanced and integrated imagery analytics intelligence will uncover new opportunities. Exploration of location data integrated with IoT systems will offer low-cost solutions and customized services. Location-based, real-time surveillance is the fastest-growing geospatial technology and expected to be the main driver of the earth observation industry in the future.
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"The rising demand for real-time surveillance and location-based intelligence services will pave the way for new companies to enter the geospatial services sector. Access to geospatial data will become simpler in the future, with government downstream operators expected to provide data without any regulation," said Priyanka Gopalakrishnan, Research Analyst. "However, the entry of multiple drone players is likely to increase the pressure on satellite companies. Compared to satellite operators, drone operators use high-resolution cameras to capture images and can perform operations at much lower costs."
Gopalakrishnan added: "Blockchain, big data, and artificial intelligence will bring new value propositions into the market and promote innovative business models across various geospatial applications. Advanced geospatial technologies would allow the delivery of products and services at lower costs, which will bring new customers into the sector. Additionally, the geospatial imagery-based analytics market can perform operations on a small budget."
Market participants should invest in the research and development of geospatial applications and their use cases in the following sectors:
Digital Transmission Driving the Geospatial Services Market, 2020 is part of Frost & Sullivan's global Aerospace and Defense Growth Partnership Service program.
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Digital Transmission Driving the Geospatial Services Market, 2020
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SOURCE Frost & Sullivan