Competitive Landscape
AeroVironment, Inc. (US), HUVRdata (US), Esri (US), DJI (China), DroneDeploy (US), 3D Robotics (US), Delta Drone (France), VIATechnik LLC (US), Pix4D SA (France), PrecisionHawk, Inc. (US), AgEagle Aerial Systems, Inc. (US), Airware (US), Optelos (US), Kespry (US), Sentera, Inc. (US), and others are the main players profiled in the drone analytics market.
Market Outlook
The Global Drone Analytics Market Is Expected to Register 27.23% CAGR From 2019 To 2024 (Forecast Period).
It is driven by adoption of drones by sectors of mining & quarrying, agriculture & forestry, and oil & gas. Investments in furthering the development of drones combined with high demand for analytics in commercial and industrial applications can augment the market size till 2024. Insurance firms are using drones for assessing inaccessible rooftops of buildings for settling claims.
High costs of developing software for attaining precise insights combined with concerns over cybersecurity data can pose a challenge to the market.
Drone analytics consist of vital information and insights accumulated by drones during their run. The software created by developers allow end-users to capture videos in high resolutions and analyze flight duration and other metrics required for enhancing the drone’s efficiency as well as the application. The global drone analytics market report by Market Research Future (MRFR) covers the market size as well as revenue estimations of key players considering various trends and opportunities.
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The growth of the global drone analytics market can be attributed to the increasing adoption of 3D printing for manufacturing drone parts and rising use of advanced drone cameras in the oil & gas, agriculture and forestry, construction industries. However, stringent government regulations regarding drone use and the limited flight range may hinder market growth. For example, in the US, a commercial remote pilot certificate from the Federal Aviation Administration (FAA) is required to fly drones for commercial purposes.
Segmentation Analysis
The global drone analytics market has been segmented based on type, solution, application, industry, and region.
On the basis of type, the global drone analytics market has been divided into on-premise and on-demand. The on-demand segment is expected to account for the larger market share and register the higher CAGR during the forecast period of 2019 to 2024. On-demand services offer flexibility, low cost, and customization, which is driving the growth of the segment.
Based on solution, the global drone analytics market has been classified as end-to-end solutions and point solutions. The end-to-end solutions segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period. End-to-end solutions offer benefits such as enhanced operational efficiency, reduced costs, inter-department communication, and no third-party involvement.
By application, the global drone analytics market has been categorized as geolocation tagging, thermal detection, aerial monitoring, volumetric calculations, ground exploration, 3D modeling, and others. The 3D modeling segment dominated the market in 2018 and is expected to be the fastest-growing during the forecast period. Drones offer capabilities such as real-time color or infrared imagery and external first-person view (FPV) cameras and displays that enable users to receive real-time 3D models and videos of enhanced quality. Additionally, they are compatible with smartphones, which enable users to receive and view 3D models and images on their phones.
On the basis of industry, the global drone analytics market has been divided into construction, mining and quarrying, agriculture and forestry, insurance, utility, oil & gas, transportation, telecommunications, scientific research, and others. The agriculture and forestry segment dominated the market in 2018. However, the construction segment is expected to exhibit the highest CAGR during the forecast period. Data analytics solutions provided by companies such as Airware enable construction companies to view elevation maps, survey designs through drone mapping, and collaborate with teams on different sites, which is driving the growth of the segment.
Regional Analysis
Based on region, the global drone analytics market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
In 2018, North America dominated the global market. Factors such as technological advancements and high purchasing power are driving market growth in the region. The North American drone analytics market includes the US and Canada. The US is expected to account for the larger share of the North American drone analytics market owing to the presence of prominent manufacturers such as AeroVironment, Inc., 3D Robotics, and PrecisionHawk, Inc. Additionally, collaborations between drone manufacturers and defense companies to develop drone analytics are propelling market growth.
The European market is likely to offer lucrative growth opportunities during the forecast period. An in-depth analysis of the market in the UK, France, Italy, Germany, Russia, and the rest of Europe has been provided in this report. France accounted for the largest share of the European drone analytics market in 2018. The presence of market players such as Delta Drone is propelling market growth in the region.
The market in Asia-Pacific is expected to exhibit the highest CAGR during the forecast period. An in-depth analysis of the market in China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific has been provided in this report. China accounted for the majority of the Asia-Pacific drone analytics market in 2018. The availability of low-cost drones and increasing construction activities in the region are propelling market growth.
The market in the Middle East & Africa includes the UAE, Saudi Arabia, Israel, and the rest of the Middle East & Africa. The UAE is expected to be the largest market during the forecast period. The increasing adoption of drones for military and commercial purposes are bolstering market growth in the region. Additionally, government initiatives to drive the adoption of drones in different applications is also propelling market growth.
The Latin American market includes Brazil and the rest of Latin America. Brazil is expected to the larger market during the forecast period. Market growth in the region can be attributed to the growing adoption of drones in the agriculture industry.
Major Developments
- In March 2019, AgEagle Aerial Systems, Inc. launched ParkView, an aerial imagery and data analytics platform.
- In October 2018, DJI collaborated with Propeller Aerobotics Pty Ltd to provide advanced drones with enhanced drone analytics.
- In May 2018, PrecisionHawk, Inc. acquired Hazon, Inc. and InspecTools Inc. and enhanced its drone analytics capabilities.
TOC:
1.Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Drone Analytics Market, by Type
1.1.2. Global Drone Analytics Market, by Solution
1.1.3. Global Drone Analytics Market, by Industry
1.1.4. Global Drone Analytics Market, by Application
1.1.5. Global Drone Analytics Market, by Region
2.Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3.Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
List of Tables:
Table 1 Global Drone Analytics Market, by Region, 2019–2024
Table 2 North America: Drone Analytics Market, by Country, 2019–2024
Table 3 Europe: Drone Analytics Market, by Country, 2019–2024
Table 4 Asia-Pacific: Drone Analytics Market, by Country, 2019–2024
Table 5 Middle East & Africa: Drone Analytics Market, by Country, 2019–2024
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