Irish firm publishes analysis of aerial imaging market
Dublin, Ireland-based research firm Research and Markets released a report on November 12 entitled, Aerial Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2020.
The global aerial imaging market, valued at $970 million in 2013, is expected to see strong growth at a CAGR of 13.4% from 2014 to 2020, says the firm.
Aerial imaging is gaining popularity across end-user applications such as cartography, natural resources management, archeology, forestry management and disaster risk reduction and prevention, among others. The major factors driving the global aerial imaging market include an escalating number of applications, increasing advancements in drone/UAV technology, increasing popularity of location-based services and technological developments in camera systems and aerial platforms.
The global aerial imaging market is segmented on basis of application types, end-users, and geographic regions. Of the different applications, in 2013, the defense and intelligence segment dominated the global aerial imaging market. The dominance in this sector is attributed to the increasing end-user awareness, high adoption rate among government sector coupled with the availability of high resolution aerial imagery from various suppliers.
On the basis of end-use market segments, government sector accounted for the highest revenue share valued at 27.7% in 2013. Government organizations globally are increasingly incorporating aerial imagery and related services in applications such as homeland security, demographic planning, land and property management, and to monitor and manage environmental changes, among others.
Source: Business Wire