Recent technological advancements are
enabling global aerial imaging market grow at a rapid pace. Fortune Business
Insights has published the above information in a report, titled “Aerial Imaging Market Size, Share and
Global Trend By Camera Orientation (Oblique, Vertical), Platform (Fixed-Wing
Aircraft, Helicopter, UAV/Drones), End-Use Industry (Government, Energy Sector,
Defense, Forestry and Agriculture, Real Estate, Civil Engineering, Insurance)
And Geography Forecast till 2025.”
According to the report, the global aerial imaging market
covered a value of US$ 1439.3 Mn in the year 2017 and is expected to reach US$
4125.2 Mn by 2025. At this pace, the global aerial imaging market is projected
to report a remarkable CAGR of 14.2% during the forecast period.
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Aerial photography offers
cost-effective solutions and high precision features for updating the maps,
route designing, and urban planning. Over the past few years, the aerial
imaging market is witnessing persistently rising adoption of aerial imaging services
across end-use applications.
"Demand
from Government Sector Forecast to Skyrocket"
A lead analyst at Fortune Business
Insights said, “Construction, government, and agriculture are segments which
account for a major share in the global aerial imaging market. “The rising use
of aerial imagery across these sectors is the chief factor driving the market,”
he continued. Also, rising demand for resource management and energy especially
in construction sector is likely to boost growth in the aerial imaging market.
As per camera orientation, oblique aerial imaging is expected to gain more
traction and cover a significant share. The oblique aerial photography helps in
efficient cost reduction of planning, inventory management, and mapping. In the coming
years, the demand from government is likely to skyrocket at the wake of rising
security concerns. Besides this, aerial imaging serves diverse purposes within
the sector, which is expected to enable growth in the overall market.
"Asia
Pacific to Exhibit Attractive Growth Rate by 2026"
Among regions, North America is
anticipated to lead as a global leader in the aerial imaging market. This is
ascribable to the implementation of aerial imaging solutions by forestry and
agriculture industry in North America. The rising implementation of such
solutions is expected to help industries make better decisions in the coming
years. Moreover, the region covered a value of US$ 683.7 Mn in the year 2017
and is likely to remain dominant throughout the forecast period. Following
North America, the market in Asia pacific is projected to rise at a strong
growth rate in the upcoming years. The rising adoption of aerial imaging systems
by sectors such as agriculture, defence, and energy is likely to create
attractive growth opportunities for the aerial imaging market in this region.
"Technological
Advancements in Aerial Photography to Spur Growth"
The advent of advanced technology is expected
to further increase the overall share of the global aerial imaging market. The rising
adoption of smart phones, digital media developments, and improvements in wireless
applications enable growth in the aerial imaging market. In addition to this,
growing IoT applications may offer location-based services to companies. These services
include social networking, online food restaurants, and e-commerce websites may
contribute towards the growth of aerial imaging technology until 2026.
"Issues
Associated with Privacy and Security May Hamper Growth"
Strict regulations on national
security and privacy are likely to negatively impact the aerial imaging market.
Specific regulation especially in the U.S. and U.K. with regards to security
and privacy issues may restrict the market to some extent. Another factor
impeding the growth of the aerial imaging market is bad weather conditions and
other environmental factors. These factors may result in prevention of accurate
data collection of aerial imaging.
Read more in this press release:
"Eagleview
Technologies, Inc. Focusing to Expand its Global Reach by 2026"
Presently companies such as NRC Group
ASA, Fugro N.V, EagleView Technologies, Inc., and Nearmap Ltd. cover
one-third of the market in terms of revenue. The broad networking distribution
of these companies in several regions is likely to maintain their global
footprint in the global market for aerial imaging. Market leaders are adopting robust
strategies to strengthen their foothold. For instance, Eagleview acquired an
aerial imagery Australian company called Spookfish in December 2018. The main
objective of Eagleview Technologies, Inc. was to enhance its aerial imaging
equipment and systems. Rising R&D investments and technological innovations
are some of the strategies adopted by leading companies to expand their global
reach. Some of the leading players include Landiscor Real Estate Mapping, 3D
Robotics, Kucera International Inc., Cooper Aerial Surveys Co., GeoVantage
Inc., Airobotics, Digital Aerial Solutions LLC, and DroneDeploy.
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