The aerial imaging market is estimated to be valued at USD 4.18 billion in 2024 and is expected to reach USD 12.32 billion by 2031, growing at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031.
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The aerial imaging market is expected to witness significant growth during the forecast period. The growing adoption of drones & aerial cameras across various industries and increasing investments in geospatial projects are some of the key factors driving the growth of the aerial imaging market. Aerial imaging is increasingly being used in the agriculture, construction, government, media & entertainment, and other sectors for surveys, map making, and spatial analysis. Furthermore, technological advancements including artificial intelligence integration and advanced data analytics are expected to provide opportunities for aerial imagery solutions. New and innovative applications of aerial images in infrastructure, disaster management, and environmental monitoring are also expected to support the market growth in the coming years.
Increased Usage for Geospatial Analytics
The usage of aerial imagery for geospatial applications has significantly increased in recent years. With advances in sensor technology and data processing capabilities, high resolution aerial images can now provide valuable geospatial data and insights. Many industries such as agriculture, construction, infrastructure, and utilities are leveraging aerial imagery for various tasks such as land mapping, change detection, asset management, and site planning. As aerial images captured over time can provide historical data about land usage and changes, they are extensively used for geospatial analytics. Geospatial companies are developing advanced analytics tools that use computer vision and machine learning models to extract location-based insights from aerial images at scale. Applications such as monitoring crop health, tracking urban development, assessing infrastructure projects, and planning utility networks are driving the demand for geospatial analytics. Government agencies are also increasingly using aerial imagery driven geospatial analytics for city planning, disaster management, and environmental monitoring purposes. The ability to accurately analyze huge volumes of aerial images to gain spatial understanding of wide areas is boosting the aerial imaging market. Overall, the rising significance of geospatial insights is a major factor augmenting the aerial data collection and analytics capabilities worldwide.
In February 2022, Vexcel Data Program is a cloud-based service provider of aerial imagery, announced the availability of a new software development kit (SDK), MapControl SDK, enabling developers to integrate the world's largest aerial imaging program into their own applications. MapControl SDK empowers developers to create immersive experiences for showcasing high-resolution photography and geospatial data, allowing integration into online and desktop applications, as well as geographic information systems (GIS), Central Automatic Message Accounting (CAMA), and Computer-aided design (CAD) systems.
Aerial imaging is witnessing significantly higher adoption in the agriculture industry for precision farming applications. Traditional agricultural practices involve treating entire farmlands uniformly without considering the varying needs of different sections. However, with the help of high resolution multispectral aerial images captured over agricultural fields, precise variability within fields can now be identified. Powerful analytics on these aerial images helps farmers gain spatial insights about the differing health, nutrient and yield patterns across their farms. This enables more targeted application of inputs like water, fertilizers, and pesticides only where required. Industries are developing precision agriculture solutions and services that use aerial imagery, computer vision algorithms and decision support systems to provide field-specific prescriptions and recommendations to farmers. As precision agriculture allows optimizing limited resources and maximizing per acre crop yields, its economic and sustainability benefits are driving higher uptake of aerial imaging in the agriculture sector. Some applications include monitoring crop growth at different stages, detecting diseases and pest infestations early, mapping soil variability and automatically generating variable rate maps for inputs. Overall, precision agriculture is a significant factor propelling the aerial data requirements of the agriculture industry.
In November 2021, Nearmap is an aerial technology company expanded its post-catastrophe program in North America, providing high-resolution aerial imagery and location data to insurance providers, emergency services, government agencies, property management firms, and construction and engineering firms for improved disaster response planning and recovery efforts.
Aerial Imaging Market Report Snapshots
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