The global drone analytics software market size was valued at USD 1.99 billion in 2022. The market is projected to grow from USD 2.15 billion in 2023 to USD 4.45 billion by 2030, exhibiting a CAGR of 10.95% during the forecast period.
Unmanned Aerial Vehicles (UAVs) are in demand to capture and record superior photos and videos in security, infrastructure, media, entertainment, and military industries. There are tremendous opportunities and exposure for logistics, energy, transportation, and logistics industries. Drones have gained immense popularity due to capturing high-definition videos and superior photos. The drone analytics software market growth is expected to escalate during 2023-2030.
Fortune Business Insights provide this information in its report titled “Drone Analytics Software Market, 2023-2030.”
Informational Source:
https://www.fortunebusinessinsights.com/drone-analytics-software-market-104074
List of Key Players Profiled in the Drone Analytics Software Market Report:
- i3D Robotics (U.S.)
- Dreamhammer Inc. (U.S.)
- DroneDeploy Inc. (U.S.)
- ESRI (U.S.)
- Pix4D (Switzerland)
- Precisionhawk Inc. (U.S.)
- Sensefly Ltd. (Switzerland)
- DJI (China)
- Drone Volt (France)
- Airware, Inc (U.S.)
Segments:
Increasing Demand for On-demand Services will Drive the Market Growth
Based on type, the market is bifurcated into on-premises and on-demand. Due to the rising demand for cloud-based solutions and drones by the defense and commercial sectors, the on-demand segment is estimated to dominate the type segment. The rising demand for remote-controlled aerial vehicles for security concerns surged the need for on-premises assembly for drone analytics software in the commercial sector.
End-to-End Solution Segment to Drive the Market Growth
The end-to-end solution segment is estimated to lead the solution segment during the forecast period, owing to increasing demand for total solution packages from data collection to final report presentations. Point solution offers drones security solutions such as surveying, collecting, processing data, and capture. Due to the restrictions imposed on security details related to defense forces, the defense sector of countries, such as India, China, and South Korea, witnessed the demand for point solution.
Aerial Monitoring Segment to Witness the Largest Market Share due to Use of Drone Analytics
The aerial monitoring segment accounted for the largest market share in 2022. It is also estimated to be the fastest growing segment during the forecast period. With the growing use of drones in 3D modelling and volumetric calculations, the construction segment witnessed huge demand for drone analytics.
COVID-19 Impacts:
Increasing Demand for Remote Surveillance Positively Impacted Market during Pandemic
Due to the outbreak of COVID-19, the adoption of UAVs increased due to governments’ stringent restrictions on people’s movement. The demand for UAVs has increased for most security and surveillance purposes, which has helped in emergencies such as asset management and homeland security.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Growing Adoption of Drones for Security Purposes to Escalate Market Growth
Technological advancements and developments in analytics and software are anticipated to impact UAV software. Drones can fly at different locations regardless of altitude and range. This solution has increased the adoption and demand for aerial vehicles in many countries. Many commercial applications, such as construction and industrial, precision agriculture, security, infrastructure, insurance, energy, logistics, and transportation, are anticipated to drive the growth of the drone industry. Hence, the drone analytics software market share will grow during the forecast period.
Regional Insights:
Increasing Demand from Military for Security Purposes to Drive the North America Market Grow
The North America market was valued at USD 549.9 million in 2022, becoming the leading region during the forecast period. The region is expected to grow the market value due to increased demand from military and commercial software purposes to improve operational capabilities and efficiency.
The Europe market is estimated to show moderate growth due to growing demand for military and commercial drones in countries such as France, the U.K., and Germany. Numerous companies in this region focus on developing low-cost landing capabilities and advanced autonomous UAV vehicles with unique take-off.
The Asia Pacific market is rising due to the escalating demand for UAVs in various industries such as infrastructure, construction, logistics, agriculture, energy, and power. Key players in the market are highly interested in mergers, acquisitions, partnerships, and developments.
South America and the Middle East & Africa are estimated to show moderate growth from 2022-2030. Rising industrialization in Brazil, South Africa, and Saudi Arabia is anticipated to foster the market development.
Competitive Landscape:
Market Players Focus on New Product Launches to Strengthen Market Position
Leading drone analytics software companies are competing to increase their market share by providing solutions that are specific to particular sectors. These players strategically work with and take over local rivals to gain a solid regional footing. These companies prioritize developing innovative products and effective marketing strategies to capture a larger market share. The growing volume of international trade is projected to present lucrative opportunities for market players.
Key Industry Development:
- March 2022: Skydio, a leading manufacturer of commercial drones and expert in autonomous, and Optelos, the top provider of visual data management & analysis software, engaged themselves in the partnership for asset inspection applications. Clients using drones to develop their asset inspection programs will benefit from this partnership’s new and special value.