- Increasing adoption of drones to gather areal data in various industries is a major factor driving growth.
- High cost associated with drone analytics is a factor that may affect growth of the drone analytics market.
- The market in North America is expected to register the highest CAGR.
The drone is used for conducting aerial surveillance and inspection as it provides a birds-eye view of rooftops, grounds, water bodies, warehouses, etc. Drone analytics helps to analyze provided information for making critical decisions. It is also used for gathering aerial data and business insights in commercial applications. The global drone analytics market is estimated to value at nearly $1 billion in 2019 and is expected to register a CAGR of 14.8%.
Global Drone Analytics Market: Dynamics
Increasing adoption of drones to gather areal data in various industries such as defense, mining, construction, power generation, etc. is a major factor driving growth of the global drone analytics market. In addition, drones are also used by insurance companies in the cases of road accidents or natural disasters. Drone analytics collects the damage inspection and infrastructure inspection and also helps to determine, responsibility, cause, and liability. These are some of the factors anticipated to support growth of the global drone analytics market to a certain extent.
Drone analytics is also used in agriculture sector for crop monitoring, crops spraying, analyzing the condition of the land, planting, analyzing field, etc. which is anticipated to increase demand for drones in the market. Additionally, use of drones for aerial photography and video recording in the entertainment industry, outdoor sports, adventurous activities, private events such as festivals and celebratory events is also a factor anticipated support growth of the target market in the near future.
However, the high cost associated with drone analytics is a factor that may affect growth of the drone analytics market. Nevertheless, increasing use of artificial intelligence and internet of things applications is a factor expected to augment growth of the global market over the forecast period.
The market report has been segmented on the basis of deployment type, solution, application, end-use industry, and region. The deployment type segment includes on-cloud and on-premises. The solution segment includes an end to end solutions and point solutions. The application segment includes ground exploration, geolocation tagging, thermal detection, volumetric calculations, aerial monitoring, 3D Modeling, property management/property inspection, and others. The end-use industry segment includes utility, agriculture & forestry, insurance, construction, scientific research, telecommunication, oil & gas, mining & quarrying, transportation, and others. The region includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Deployment Type: The on-premise segment is expected to register the highest CAGR of over 13% over the next 10 years
By Solution Type: The end-end solutions segment is expected to register the highest CAGR of over 13.5% over the forecast period in the global market
By Application: The 3D modeling segment is expected to register the highest CAGR of over 15% in the near future
By End-use Industry: The utility segment is expected to register the highest CAGR of over 14.8% in the global market over the forecast period
By Region: The market in North America is expected to register the highest CAGR of over 13.7% in the global drone analytics market
Global Drone Analytics Market: Competitive Analysis
The research report on the global drone analytics market includes profiles of some of the major companies such as Airware, Inc., DroneDeploy, Delta Drone SA, Pix4D SA, PrecisionHawk Inc., AeroVironment, Inc., Viatechnik LLC, Environmental Systems Research Institute, Inc. (Esri), AgEagle Aerial Systems, Inc. (Agribotix, LLC), and Optelos
The Global Drone Analytics Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global drone analytics market for 2018–2028.
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