In a Research and Markets study report, the analysts forecast the global GIS market in the Banking, Financial Services and Institutions (BFSI) sector to grow at a CAGR of 8.43 percent over the period from 2013 – 2018.
As GIS is used for so many different industries these days, the opportunities for growth in the BFSI sector are not surprising. GIS is used across sectors such as Natural Resources, Utilities, Federal Government, Communication and Telecom, Military/Law Enforcement, and Others. GIS is used for various purposes such as disaster management, finding location details, viewing maps, marketing, designing facilities and others.
In terms of GIS product, the market can be segmented into three: Software, Data, and Services.
The report, the “Global GIS Market in the BFSI Sector 2014-2018,” has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions. It also covers the landscape of the Global GIS market in the BFSI sector and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. (From company materials)
On January 31, 2013 DigitalGlobe, Inc.and GeoEye, Inc. announced the completion of their merger, creating one global leader in earth imagery and geospatial analysis, under the name DigitalGlobe. According to the press release, the combined company will trade on the NYSE stock exchange as DigitalGlobe under the symbol DGI. Based on the closing price of DigitalGlobe stock on January 30, 2013, the combined company has a market capitalization of $2.1 billion.
This story I wrote in July 2012 recounts the background of the two companies up to that time.
In a move that the geospatial industry had been expecting, on Monday, GeoEye announced plans to combine with competitor DigitalGlobe in a deal worth $900 million. This move is in response to the National Geospatial-Intelligence Agency informing both companies that it plans to curtail funding for its $7.3 billion EnhancedView contract, pieces of which were awarded to both firms in 2010.
The two former competitors provide photos and satellite imagery from satellites that are contracted by the NGA, the products of which are generally sold to federal agencies, the military and other government institutions.
On Friday, May 4, GeoEye held an investor webcast announcing that it proposes to acquire DigitalGlobe, Inc., seen by DigitalGlobe as a “public hostile offer.” The combination of these two satellite imaging companies would form the world’s largest fleet of high resolution commercial imagery satellites, according to GeoEye.
Matt O’Connell CEO and President of GeoEye, said that the two companies combined would result in “greater capabilities to meet national security needs, be more cost effective to the U.S. government during a fiscally restrained period, improve value to decision makers, warfighters and shareholders.”
A quick overview of the proposed acquisition: DigitalGlobe shareholders will receive $17.00 per share in total consideration, payable $8.50 per share in cash and $8.50 in GeoEye stock, or 0.3537 shares of GeoEye stock for each share of DigitalGlobe stock. This price represents a 26% premium to DigitalGlobe’s closing share price on May 3, 2012. According to O’Connell, the proposal is structured to provide DigitalGlobe shareholders with the opportunity to participate in the dynamic future growth of the combined company.
High resolution imagery of sub-meter – less than 40 inches – is only available from GeoEye, DigitalGlobe, Astrium Geo, and ImageSat. It is what the stuff of Google is made of. GeoEye and DigitalGlobe represent approximately 75% of this market, and 2/3 of their revenue is tied to the U.S. government. There are lots of free, government sources of satellite imagery like Landsat, and weather satellites from NASA and NOAA, but these are not high-resolution satellites that can zoom in on your house, or support 3D modeling for engineering and virtual reality-type applications.
Read about why U.S. commercial satellite imagery is important:
It is a little frightening to be able to identify by satellite imagery a hidden nuclear facility in Iran. Iranian President Mahmoud Ahmadinejad said the facility was for “uranium enrichment” and was 18 months away from being operational. Satellite imagery company GeoEye has released a photo of what it says is this controversial and underground Iranian uranium enrichment site that was identified a week ago.
The overall view of the Iranian site. The mountain under which the site is built is to the lower right of the image. (Credit: GeoEye satellite image/IHS Jane's analysis)
In GeoEye’s gallery are numerous high resolution images of locations across the globe. The Eastern Algerian portion of the Sahara is an otherworldly place, a region of great diversity with endless stretches of sand dunes and rocky platforms that can reach more than 2,000 meters. The Tassili n’Ajjer “Plateau of the Rivers” National Park is a vast plateau in southeast Algeria at the borders of Libya, Niger, and Mali, covering 72,000 square kilometers. Satellite Image Courtesy of GeoEye
The Denver area has become a center of satellite imagery providers in recent years. Proposed steep cuts in the U.S. Department of Defense budget could affect satellite-imagery providers DigitalGlobe, headquartered in Longmont, and GeoEye,based in Virginia with a processing and operations center in Thornton. Combined, the companies have about 1,200 employees.
This satellite image made available Sept. 26, 2009, by DigitalGlobe shows the suspected Iranian nuclear facility of Fordo near the holy Shiite city of Qom, where Iran is has begun enriching uranium, according to the U.N. atomic watchdog group, the International Atomic Energy Agency. (AFP/Getty Images file)