Drone analytics analyses information and data received using monitoring, surveillance, progress tracking in order to make important decisions.
The global drone analytics market is estimated to value at nearly US$ 1 Bn in 2019 and is expected to register a CAGR of 14.8%. The first five-year cumulative revenue (2019–2023) is projected to be above US$ 7.5 Bn, which is expected to increase rather relatively over the latter part of the five-year forecast period.
Global Drone Analytics Market: Market Dynamics
Drones are used to gather data from places that are dangerous for humans, difficult to reach, and areas with extreme weather conditions is a major factor driving growth of the global drone analytics market. In addition, growing adoption of drones for surveillance as it does not require a runway to fly to provide areal data is another key factor fueling growth of the target market. Increasing adoption of artificial intelligence based drones for improving its work efficiency is also a factor expected to boost growth of the target market over the forecast period.
However, government regulations on drones in developed, as well as developing countries, is a factor that could affect growth of the target market over the forecast period. In addition, the high cost of drone data collection and analytics is another factor may hamper growth of the global market. Nevertheless, increasing usage of drones for crop monitoring, soil and field analysis, irrigation monitoring, and various other application in agriculture is a factor supporting growth of the target market.
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Global Drone Analytics Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global drone analytics market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global drone analytics market is expected to register a CAGR of 14.8% during the forecast period.
Global Drone Analytics Market: Segmental Snapshot
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
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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
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