Rapid growth in the types and diversity of sensors available to collect data -- from ground sensors, to drones, to rapid advancements in satellite technology -- and the application of machine learning and AI is set to radically change the way geospatial data is used. The increase in demand for location-based services, and the need to analyze, understand and interpret geospatial data from many different sources, plus the urgent need to address fundamental environmental and economic challenges on our planet, shows how critical a pillar location is in this period of change. Just think of the revolution automated cars will bring and the importance of location in realizing that opportunity. There will also be a radical increase in the application and usage of social, mobile, analytics and Cloud (SMAC) and location data to power a wide range of analytics, insights and new governmental and commercial services. There is not a single industry today that is not touched by geospatial.
Visual intelligence firm Geospatial Insight, has raised £3.5 million from private equity company Foresight Williams and VenturesOne investments. The money will be used to improve its machine learning capabilities, boost its additional product streams and develop visual intelligence customer solutions. Geospatial, founded in 2012, aim to give corporations and governments accurate real time data to tackle some of the world's most challenging problems, such as crop shortages, deforestation and tracking greenhouse gas emissions by using satellites and drones. Their programme also aims to spot trends and gain insight into global events by bringing together data from satellites, drones and aircraft. Machine learning gives computers the ability to learn from repeated data patterns without being programmed.
Along with the hardware and software sectors, the drone services market is the largest segment in the commercial drone industry with the strongest expansion. According to the market research report "Global Drone Service Market Analysis & Trends – Industry Forecast to 2025", the drone services market is estimated at USD 4.4 billion in 2019 and is projected to reach USD 63.6 billion by 2025, at a CAGR of 55.9% from 2019 to 2025. This is a huge opportunity for drone service providers. The key for capturing a share of this growing market is to offer turnkey business solutions beyond data capture, such as mapping, surveying and specialized geospatial analytics. With more and more business relying on location data to optimize their day-to-day operations and planning or gain first-hand market insights.
The report, funded by the Geospatial Commission and published by PUBLIC, an organisation that helps technology start-ups work better with the public sector, analyses commercial opportunities for use of geospatial and location data, considers the maturity of each technology in the UK, and provides numerous case studies and success stories. Geospatial and location data is a valuable tool for both the public and private sectors, helping them make better decisions, which could range from tackling crime hotspots or finding the quickest routes for emergency services, to deciding where best to locate warehouses. The Geospatial Commission was launched in 2017, and supported by £80m of funding over that time to drive the move to use this data more productively. This work builds on wider Cabinet Office plans for cross-government digital transformation, including a new Technology Innovation Strategy, launched in June, which sets out the government's approach to boosting the adoption of new technologies across the public sector. Minister for the cabinet office, Oliver Dowden, said: "Government investment in geospatial data is helping to grow our economy and improve public services. I welcome this report and look forward to taking the opportunities of geospatial technology even further."
Organizations are no longer content waiting until tomorrow to know what happened two minutes ago, nor can they afford to wait. Many operational and mission-critical decisions rely on how fast and accurately they can analyze the growing amount of data streaming into the organization. As the architectural landscape becomes more complex, big data analytics professionals must find a way to wrestle insights from incompatible systems, despite the inconsistency of data. Adding more capacity, hardware and personnel is a poor workaround -- it just adds a lot more cost and doesn't necessarily translate into better, faster insights. Much of this data requires immediate analysis, for valuable insights while the information is still relevant.