“According to market research report Geospatial Imagery Analytics Market by Type (Image and Video), Collection Medium (GIS, Satellite, UAV), Vertical (Defense & Security, Insurance, Agriculture, Healthcare & Life Sciences), and Region – Global Forecast to 2021″, published by “Markets and Markets”, the global geospatial imagery analytics market is estimated to grow from USD 2.77 Billion in 2016 to USD 10.21 Billion by 2021, at a CAGR of 29.8% between 2016 and 2021”. (Source: http://www.marketsandmarkets.com/)
Some of the driver for this exponential growth is:
- requirement of high resolution imagery in key sectors like defense, natural resources, insurance sectors.
- increased reliability of imagery data for quick analysis where updated information is more important than accuracy
- availability of cheap imagery
- Easy imagery acquisition options like drones / UVAV’s
What does this market size signify to all of us, precisely to job seekers and industry?
- Need more trained man-power on Imagery Analysis.
- Need more sophisticated or specific tools to process the imageries which can perform complex algorithms and efficiently handles the new aged data from Drones/UAV’s.
- More cloud based analytics (or on the fly) platforms as downloading on desk top and processing such high volume is not going to be practical.
Key players in the imagery analytics domains are Hexagon AB (Sweden), Digital Globe, Inc. (U.S.), UrtheCast Corporation (Canada), Trimble Inc. (U.S.) and Harris Corporation (U.S.).
I am personally convinced with this forecast and see a huge opportunities and requirement from developing countries like India.
Now, with this much requirement in terms of man power and specific technical skills, this is a pool of opportunity for the younger lot. When we talk about jobs and employment in this sector, what required is exponential industry oriented training with targeted approach to grab these specific domains. Because this is only growing and expanding!