Aerial imagery provides enriched point of vision that further provides amplified vision of larger areas from distant angles that enables witnessing of surface of the earth in an authenticated manner. The global aerial imagery market is anticipated to reach USD 5.2 billion by 2024, at a CAGR of 14.5% during 2018-2024.
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The capability of aerial imagery in order to provide improved and sudden view of any surface specifically in construction activities for instance for the development of water based and thermal project is expected to bolster the demand for aerial imagery market across the globe. Ability of this technology to enable the business organizations in monitoring and recording surface of the earth that ultimately helps in freezing time and advancing imaging resolutions is ultimately creating huge momentum for the growth of the market.
Moreover, increasing adoption of this technology in several areas such as surveillance and monitoring, energy and resource management, geospatial, conservation and research and disaster management is the major factor driving the growth of this market. The ability to plot information related to post disaster incidence as it provides high resolution that enables easy access and understandable data to the disaster management crew that helps them in adhering remedial activities. However, the increasing geometric distortion in images and security concern related to no-fly zones (NFZ) are the major factors hampering the growth of the aerial imagery market.
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Geographically, North America is expected to generate largest revenue of USD 841.8 million and is also expected to witness the fastest CAGR of 15.5% during the forecast period in the market. Increasing technological progressions that are extensively used for charting oil & gas plants, sky rise buildings and dams are expected to contribute towards the growth of the aerial imagery market in this region. Moreover, Asia-Pacific is expected to witness considerable growth during the forecast period. The growth of this market is attributed towards swelling demand for monitoring and surveillance in order to resist global threats.
The key players are further focusing upon technological advancements to develop novel environment for aerial imagery. This is further strengthening the market presence and position of these organizations in the global market. Some of the major players in the aerial imagery industry are EagleView Technologies, Inc., Fugro N.V., Digital Aerial Solutions LLC, Google Inc., Kucera International Inc., Blom ASA, Getmapping PLC, Nearmap Ltd., High Eye Aerial Imaging Inc., and NRC Group ASA
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