- Global Aerial Imaging Market to Reach $2.84B
PORTLAND, Ore., Oct. 18, 2016 — The global aerial imaging market is expected to reach $2.84 billion by 2022 and register a compound annual growth rate of 12.9 percent, according to a report from Allied Market Research.
The government sector is expected to be the dominant end user in the market throughout the forecast period, with North America dominating the market.
"Asia-Pacific is projected to be the fastest growing aerial imaging market during the forecast period due to the increase in economic growth, rapid industrialization and growth in number of natural disasters such as landslides, earthquakes and floods in countries such as India, China, Japan, Singapore and others,” said lead analyst of Allied Market Research, Pankaj Lanjudkar. “North America accounted for majority of the global market share in 2015, and is expected to maintain its dominance during the forecast period.”
The adoption of aerial imaging has increased in various sectors such as agriculture and forestry, energy and resource management, tourism, research, and media and entertainment, among others. In addition, the adoption of location-based services for navigation and remote monitoring is expected to drive the growth of the aerial imaging market. However, use of satellite imagery as an alternative and stringent government regulations regarding national security restrain the market growth.
Advancement in imaging technologies and equipment such as 360° vision cameras, unmanned aerial vehicles, lidar systems and 3D mapping software would provide numerous opportunities for the growth and development of the aerial imaging market.
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