Report Ocean recently released a research report on the Drone Analytics Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global drone analytics market was US$ 3.5 billion in 2021. The global drone analytics market is forecast to reach US$ 24.6 billion by 2030, registering a compound annual growth rate (CAGR) of 31.4% during the forecast period from 2022 to 2030.
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Drone analytics is the method of analyzing 2D and 3D data captured by the drone aerially. The data is being viewed and analyzed to make certain decisions related to the particular area or building. Rising demand for drones across all verticals, increasing IT spending, demand for advanced drone technology, and requirement for the collection of real-time information are the factors contributing to the growth of the market.
COVID-19 Impact Analysis
The COVID-19 outbreak was a significant drawback for the global drone analytics market. Various countries witnessed an abrupt economic slowdown, which, in turn, declined the demand for efficient drones. Drones are used to monitor areas in mining, construction. Both of these segments had to halt their activities due to the workforce shortage and unavailability of raw material. Thus, the demand for drones lowered suddenly.
Factors Influencing
- The defense and security industry is primarily driving the growth of the global drone analytics market. Unmanned aerial vehicles (UAVs) are adopted to effectively carry out operations in border areas. Moreover, it also helps monitor the crucial points where the chances of attacks are high. As a result, the global drone analytics market will grow during the study period.
- Increasing defense budget in various countries and initiatives of the governments to strengthen border security is forecast to propel the market growth. The U.S. Department of Defense (DOD) allotted around US$7.5 billion in 2021 to obtain drones and other efficient technologies.
- The introduction of cloud-based decision support systems is forecast to benefit the service providers in terms of revenue generation. In addition, the integration of AI has changed the outlook of technology. It has enhanced the ability of drones to collect, save and share data, which is convenient for the end-users. Thus, the increasing awareness related to the benefit and advancements will ultimately fuel the demand for drone analytics systems.
- The high cost involved in drone analytics is forecast to slow down the growth of the market.
Geographic Analysis
North America is forecast to hold the highest share in the global drone analytics market owing to rising government initiatives to boost borders security. Moreover, increasing government funding for drone analytics and the growing penetration of advanced drone analytical solutions even in the commercial sector is forecast to prompt regional growth.
The rising demand for advanced drones for surveillance and inspection is forecast to benefit the regional market for drone analytics during the forecast period.
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Competitors in the Market
- Delta Drone
- AGEagle Aerial Systems
- HUVRdata
- Sentera
- DroneDeply
- PRECISIONHAWK
- Pix4D S
- AeroVironment, Inc.
- VIA Technik LLC
- Delair
- Other prominent players
Market Segmentation
The global drone analytics market segmentation focuses on Type, Application, End-Use, and Region.
By Type
- On-Premises
- On-Demand
By Application
- Ground Exploration
- Geolocation Tagging
- Aerial Monitoring
- Thermal Detection
- Others
By End-Use
- Agriculture and Forestry
- Construction
- Mining and Quarrying
- Oil and Gas
- Others
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Drone Analytics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Drone Analytics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Drone Analytics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Drone Analytics market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Drone Analytics market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Drone Analytics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Drone Analytics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Drone Analytics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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