Friday, February 21, 2020

Aerial Imaging Market to Rise at 14.2% CAGR as Companies Focus on Technological Developments and Product Innovation, says Fortune Business Insights



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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