Global Aerial Imagery Market Witness a CAGR of 14.8%, Reach USD 7.2 Billion by 2028 | VynZ Research
Research Reports
Jun 01, 2022
From USD 2.31 billion in 2021, the global aerial imagery market size is expected to reach USD 7.5 billion in 2028. It will exhibit a CAGR of 14.8% during the forecast period. The increased prominence of drone-based technology is a major factor contributing to the growth of the global aerial imagery market. The increased prevalence of UAVs and rising adoption in defense applications, disaster management, LiDAR systems, surveillance and monitoring, geographical information systems, etc. will accelerate the market development of the aerial imagery market.
Furthermore, technological development in aerial imaging cameras, surge in the adoption of location-based services for remote monitoring, navigation, and mobile advertising, and increased venture capital outlay in drone technology will create positive impetus in the market demand for aerial imagery solutions.
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Nevertheless, the use of aerial imaging technology to establish 5G infrastructure and mounting R&D activities along with the surge in demand from developing economies will create promising market opportunities for the growth of the aerial imaging industry.
The COVID-19 outbreak has boosted the aerial imaging sector because UAVs can do aerial imaging jobs with minimal human contact, thus, market growth in the aerial imaging arena has been significant. The increased importance of drone mapping has enhanced in the post-COVID-19 period, resulting in an industrial expansion of aerial imagery solutions.
Among the platforms, the global aerial imagery solutions is segregated into Fixed Wing, Rotary Wing, UAV/Drones, Parachutes, Airships, Balloons, Vehicle Mounted Poles, Rockets, and Others. The surge in the demand for advanced drones, that has empowered the services provider industry to grow significantly worldwide, is projected to be a major factor driving the market expansion of UAV/drones.
Furthermore, during the projected period, the increased acceptance of technological improvement in UAVs is expected to generate lucrative opportunities in the market as there is increased usage of UAVs for data analytics, data acquisition, and real-time inspection in several industrial applications.
North America dominates the aerial imagery market as it is highly adopted in extracting information about soil maps, vegetation maps, geology maps, etc., used in developing plans, maps, and forecasts about the earth’s surface, and used in government applications like archaeology, inland & property information, etc. that will bolster the growth in the region.
The increased adoption of unmanned surface vehicles by US military and civil agencies along with the rising number of construction projects have propelled the market demand to inspect, monitor, and surveillance the site thereby will boost the growth of the aerial imagery market in the region.
In April 2022, UP42 will soon have access to Nearmap’s high-resolution aerial imagery of key urban regions in the United States, Canada, Australia, and New Zealand. The Nearmap vertical imagery, which is updated numerous times a year at 5.5- to 7.5-cm (2.2″ to 3″) spatial resolution for more than 1740 urban areas in the United States and over 100 in Australia, will be the first release. Vertical imaging from Nearmap, which has its global headquarters in Sydney, Australia, provides an orthogonal imagery base layer that provides constant clarity, precision, and spatial detail for cities and their surrounding areas.
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