Wednesday, November 1, 2017

Nearmap Wins Commercial Real Estate Customer

South Jordan, Utah-based aerial imaging provider Nearmap reported a win on Tuesday with a commercial, real estate customer in Houston, Texas, NewQuest Properties. According to Nearmap, NewQuest is using its aerial imagery for more accurate current road inforamtion, plus for its marketing efforts. Details on the customer deal were not announced. Nearmap said that NewQuest had found that its brokers had been using outdated imagery on properties, due to the rapid speed at which new developments have been built--with more than half of the sites being visited having out of date aerials. The problem has been particularly pronounced in Texas, which has been undergoing a building boom related to that area's own technology and employment growth. Nearmap says its imagery is captured two to three times per year in each area; free sources, such as Google Earth, generally take 1 to 3 years for an update, not including data processing and lengthy review of that data--which Google says means you generally don't see any imagery younger than about 6 months in Google Earth or Google Maps.