WASHINGTON - September 28, 2022 - (Newswire.com)
The global geospatial solutions industry is set to hit over $1,457 billion by 2031, growing at a CAGR of over 13% from 2022 to 2031. However, lack of awareness and inability to access and use the insights without a specific technical background is hindering its growth. A European-based startup, Orbify, and an Indian-based startup, Vasundharaa Geo Technologies, are joining forces to create end-user-ready applications that do not require pre-existing earth observation background or programming skills. Their first joint project is an interactive urban change detection solution that will enable the analysis of urban sprawl in the MMR (Mumbai Metropolitan Region) in India. The proposed solution will rely on satellite imagery and close collaboration with local municipalities.
Both companies belong to the software segment of the global geospatial solutions market, which is forecasted to contribute more than two-fifths of the global geospatial solutions market share by 2031, outperforming hardware and services by and large. The segment itself comprises three large categories:
- data sales & processing;
- data dissemination & computing;
- analytics, insights & visualization.
Orbify and Vasundharaa jointly cover all three of them.
Vasundharaa Geo Technologies Pvt. Ltd. aims to offer a standard solution for automated satellite imagery analysis to cater to large volumes of satellite data by wide usage of advanced machine learning and computer vision. With their algorithms and computation processes, they are able to analyze large areas in a very short period of time and with very high accuracy, both for the public as well as the private sector. Vasundharaa is working closely with the Indian Space Research Organization (ISRO) for getting best-in-class imagery data at a fraction of the market price and delivering automatically generated vector outputs.
Orbify, Inc. is a cloud-based platform specialized in creating end-user applications and portals for global environmental monitoring using remote sensing data. The company is streamlining geospatial data access, deploying AI/ML-based algorithms, and finally, visualizing the insights in one environment. The recent deployment of the no-code application builder is allowing the company to address the non-technical stakeholders in various sectors such as climate tech, agriculture & farming, urban monitoring, disaster response, and more.
The companies are planning to work on more joint projects in the nearest future; to learn more about their plans you can reach out to the press contact below.
Contact Information:
Olya Ryabinina
Head of Growth, Orbify
or@orbify.com
+17034311952
Press Release Service by Newswire.com
Original Source: Startups on a Mission to Expand the Use of Geospatial Insights, Raising the Bar for the Market's CAGR
