VANCOUVER, British Columbia, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Sparkgeo, a Canadian-owned geospatial consulting company who has been gaining quiet popularity among some of the largest tech giants in Silicon Valley, is expanding with the groundbreaking launch of Prescient. A report by Mordor Intelligence valued the geospatial analytics market at USD 22 billion in 2020, expecting it to reach a value of USD 33.19 billion by 2026.

Prescient harnesses unparalleled amounts of satellite, remote sensor and third-party data into a custom enterprise solution that provides contextual analysis faster than any human can. The platform’s location intelligence workflows enable organizations whose business is centered around location, to rethink, reinvent and evolve the core of their operations.

“Every day we have access to over 500TBs of data flow from earth observation satellites, and data from over seven billion smart devices, however, most companies don’t have the technology or the labour bandwidth to be able to process it,” says Will Cadell, Sparkgeo CEO. “The sheer amount of location-based data we can harness and scale with Prescient transcends anything we have seen commercially available in our industry so far, making it accessible to companies outside of the technology space.

The applications for Prescient are far-reaching, but may be most immediately impactful for industries in finance, insurance, automotive and climate impact.

For example, using Prescient, an insurance analyst can not only estimate the age and material of a roof using satellite imagery, but can do it for every single roof on the planet, in just a few seconds. At the same time, Prescient can calculate the risk exposure from flooding based on its location and surrounding landscape features, while taking into account the grading of the property.

In their  launch video, Sparkgeo showcases how Prescient can analyze how many people are returning to the office after the pandemic. The platform pulls GPS data, analyzes the temperature of buildings, vehicle counts in business centre parking lots, and transactions at local coffee shops to provide economic vitality indices. The data can be pulled for one city, or quickly scaled to analyze every city across the globe.

“The application of Prescient can also support governments and policy-makers in making important fact-based decisions for our communities, like allocating resources for climate change action,” adds Will. “For example, a climate impact organization can analyze the carbon capture utilization of various tree species across the globe, not annually but daily. For us, Prescient is one more step towards making highly-scalable geospatial technology available in broader markets, outside of the traditional users of map technology. We are turning satellite and drone pixels into products for our clients.”

Prescient is designed for custom end-to-end optimization for each organization, connecting with and enhancing their existing systems. Learn more at https://prescient.earth.

About Sparkgeo

Sparkgeo is a global consulting company creating geospatial cloud-based solutions for some of the world’s top tech companies in Silicon Valley, and additional corporations in North America, Asia, Europe and the Middle East. They are the creators of the Maptiks web maps analytics platform and Prescient, an Earth observation tool and enterprise solution. They are curious, platform-agnostic, and listen carefully. Learn more at www.sparkgeo.com

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