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Drone Data Service Market to Witness Massive Growth in the Coming Years

Press Release   •   Aug 22, 2017 15:15 EDT

The drone data service provides significant amount of aerial data to various companies thereby enhancing capabilities within their business processes. Drone data service could analyze the obtained the data collected by drone to improve predictive/preventive maintenance and operational intelligence of the company. In this service it collects information which includes a drone or unmanned aerial vehicle (UAV) combined with cloud based data processing system that can provide a wide range of aerial data to help with tasks such as inspection, observation, surveying and measurement. Amount of data generated by drones is useful in every sector that includes surveillance data from military drones of remote lands. By gathering useful data, service providers could able to process the data and convert it into usable information

This market is anticipated to grow due to its prominently increasing applications in various businesses and growing usage of information acquired by drones in operational and big data analytics. Drone data service providers are offering innovative opportunities for various industries such as agriculture, construction, energy, transportation and insurance to enhance the predictive capabilities. These capabilities offer significant advantages such as risk mitigation, quality improvement and cost reduction, thereby providing a competitive advantage for the companies. Furthermore, drone data service requires less manpower, since drone technology makes it possible to perform tasks with smaller teams.

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The factors restraining the growth of the market are higher operational cost and the legal factors. For instance, in the U.S. region drones must be under individual operator’s control and they cannot be scheduled to carry out a certain tasks without an operator for liability and safety reasons. Lack of maturity is another restraining factor for the drone data services market as drone technology is still considered in the experimental phase. The concerns around drone technology are political and involving issues of privacy. Maintaining the privacy of people while collecting a data is one of the bigger challenges presented by drones.

However ability of drone to carry a wide variety of external sensors to distant locations for data collection is expected to bring novel opportunities for the drone data services market. For instance, farmers can use peculiar sensors on drones to collect data such as humidity in their respective farming area. They can use this information to distribute water strategically and avoid over fertilization & watering to reduce environmental impact. Furthermore, drones are useful for accessing the places that are hard to reach for any person. For areas such as that, drones provide a safer way of data collection than sending an actual person.

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The drone data services market can be segmented on the basis of service type, type of platform, end user and region. By service type the market is classified as mapping & surveying, photogrammetry, 3D modeling & digital elevation model (DEM) and others. Further based on platform the drone data services market can be segmented into cloud based and on-premise. On the basis of end user the market is classified as agriculture, real estate & construction, mining, transportation, oil & gas, energy, BFSI and others.

Geographically, the market is segmented into North America, Europe, Middle East & Africa, Asia-pacific and South America. North America and Europe regions are expected to lead the drone data services market due to the increasing demand for real time and high quality data along with changes in the regulations pertaining to the use of drones in different business processes. Demand for the drone data services market is expected to grow in the developing regions such as APAC due to increased investment in the drone technology, growth of the commercial sector and enhancements in policy framework pertaining to the use of drones in commercial applications.

Some of the key players in the drone data services market are Agribotix LLC, PrecisionHawk, DroneDeploy, DroneCloud, 4DMapper, Sentera, LLC, Pix4D, Skycatch, Inc., Dronifi and Airware

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