Geospatial

• [New] The Geospatial Analytics Market Size is Projected to Grow from USD 52.6 Billion in 2020 to USD 96.3 Billion by 2025, at a Compound Annual Growth Rate of 12.9% During the Forecast Period.
• [New] Plan, the Renewable Energy Strategy which maps out how the UK will deliver its target of getting 15% of all energy (electricity, heat and transport) from renewables by 2020.
• The European Space Agency is preparing to select two companies to build the second generation of Galileo navigation satellites under contracts to be signed in early 2021.
• Led by countries such as Australia, India, and South Korea, the Remote Sensing Services market in Asia-Pacific is forecast to reach US$ 4.4 Billion by the year 2027.
• EU-funded researchers have mapped out possible pathways to achieve the drastic technological, economic and societal transformations needed for the EU to become carbon neutral by 2050, meet its commitments under the Paris Agreement and lead global efforts to tackle climate change.
• More advanced assisted driving functions will be available next year, including navigation guided pilot, a feature similar to Tesla's navigate on autopilot allowing autonomous lane change on highways.
• By 2022, all new cars in Europe are expected to be fitted with the new device, which uses GPS and sign recognition cameras to automatically limit speed.
• US government reports have emphasized the need to counteract China's plan to dominate world manufacturing by 2025, a view which has since become something of a bipartisan consensus.
• All in all, AI usage in medical image diagnostics is anticipated to grow by nearly 10,000% until 2040 whilst the global addressable market (scan volumes regardless of processing method) will grow by 50%.
• Africa is one of the least urbanized places in the world, and its urbanization rate will continue to grow among the fastest of the world regions in the coming years.
• Driven by technology advancements (such as quantum cascade laser technology), the new generation of IR imaging microscope is expected to facilitate faster scan speed and better quality of spectra, enabling high-throughput routine MP analysis.
• Many analysts are now estimating that US oil will not reach production levels seen at the start of 2020 for years - if ever again.
• The European Commission mapped out its vision to promote renewable hydrogen, a sector expected to lure up to 470 billion euros (£420.97 billion) in investment as the European Union strives for net zero emissions by 2050.
• Britain aims to control 10% of the global commercial space market by 2030 while it is particularly involved with small satellites that provide super-fast internet as well as navigational aids.
• Coca-Cola Amatil's network of 2,000-plus vending machines in Australia and New Zealand will enable consumers to spend their crypto by using their smartphone cameras to scan a QR code payment sticker, provided they have the Sylo Smart Wallet installed.
• The Learning Economy Foundation is a DC-based nonprofit with a mission to steward the global Internet of Education and launch a sustainable, multi-system, multi-agent, learning GPS ecosystem by 2025.
• Disruption is being felt in all areas of the UK car industry, with many new car launches delayed until later this year at the earliest.
• The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the 3D Mapping and Modeling in Mapping market in 2020.
• The Indoor Positioning and Navigation System market is anticipated to reach the value of USD 24 Bn by the year 2023.
• The global geospatial analytics market is significantly being driven by the rising technological advancements: The Asia Pacific is likely to witness the highest growth in the forecast period of 2020-2025.
• China's largest private automaker is following Tesla in an adventure to space, announcing plans to build its own satellite network that will enable better navigation for autonomous vehicles and be used for other commercial applications.

Last updated: 22 November 2020