Chicago, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The Drone Analytics Market by Industry (Agriculture, Engineering & Infrastructure, Insurance, Energy & Power, Defense & Security, Telecommunication, Public Safety, Transportation & Logistics), Application, Type, Solution and Region", This Drone Analytics Industry growth can be attributed to the rising demand for drones, Due to their benefits, such as timeliness and cost-effective data acquisition, drones have been increasingly used by various industries, such as agriculture, logistics, mining, oil and gas, and real estate. The conventional data collection technique is restricted by time and safety, often leading to a shortage of detailed information for monitoring and evaluation.
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Drone Analytics Market Report Scope:
| Report Metric | Details |
| Estimated Market Size | USD 2.1 Billion |
| Projected Market Size | USD 6.5 Billion by 2027 |
| Growth Rate | 25.5% |
| Forecast Period | 2022-2027 |
| Market Size Available for Years | 2018–2027 |
| Base Year Considered | 2021 |
Key Market Players in Drone Analytics Market
- AgEagle (US),
- Skydio (US),
- Dronedeploy (US),
- Kespry (US),
- Insitu (US),
- Parrot (France),
- AeroVironment (US),
- ESRI (US),
- Draganfly (Canada), among others. (25 Companies)
“Browse in-depth TOC on " Drone Analytics Market Trends, Growth Drivers"
214 – Tables
40 – Figures
240 – Pages
Driver: Surge in demand for safe and accurate monitoring
Restraint: Underqualified operators
Opportunity: Technological advancements in drones
Challenge: State and local regulations
Due to their benefits, such as timeliness and cost-effective data acquisition, drones have been increasingly used by various industries, such as agriculture, logistics, mining, oil and gas, and real estate. The conventional data collection technique is restricted by time and safety, often leading to a shortage of detailed information for monitoring and evaluation. Cost-effectiveness, high precision, and extraordinary time efficiency make drones a trustworthy data acquisition tool that can deliver rich basic data and accomplish synchronous monitoring for various applications.
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Operating drones requires skilled personnel with sufficient training. Though developed countries can hire skilled and trained operators, the situation is not the same with emerging economies. This is generally due to low investment in defense and the absence of adequate infrastructure in developing countries. These factors are expected to hinder the global drone analytics market growth. As per drone pilots, the task of operating a drone is fatiguing and extremely difficult. There have been many reports in the US as well, where drone pilots have quit their jobs due to the challenging nature of the job. Hence, to make drone piloting a favorable job prospect, countries have come up with various deals and increased salary packages. Yet drone technology is in its nascent phase, and better funding and training schemes are required to make drone operators aware of the necessary training required to operate drones.
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Drones are witnessing rising prospects for application in diverse fields of work. Due to their speed and agility, these winged devices are a concise means of delivering complete and valued results. Currently, drones outfitted with sensors and cameras are establishing their worth in gathering real-time footage that can be stored for later assessment. Un-crewed aerial systems can discover failing structures and equipment in less time and for reasonable prices as compared to traditional methods. In 2020, the American Society of Civil Engineers reckoned that the US alone required USD 3.6 trillion in infrastructure investment just to bring the country’s support systems to satisfactory levels. Innovative technologies like machine learning and laser are broadening the scope of application of these inspection drones where they are getting stocked with the required technologies to perform specific tasks during the inspection. This new capability offers growth prospects for drone manufacturers in the marketplace.
There is no doubt the drone industry is thriving. From inspecting active fire hotspots to sending messages via light shows, drones have come to be increasingly used by government agencies. However, the rising volume of drones would put immense pressure on the procedures of permits as well as exemptions that nearly all countries need for drone use. Huge numbers of drones will also put the implementation of such rules under pressure. Challenges to expanding the usefulness of public safety drones include restrictions on flying beyond visual line of sight (BVLOS), inadequate battery life, flying at or below 400 feet, not flying in restricted airspace, especially near airports, and community-based concerns over privacy. Drones also create challenging situations for insurance companies due to damage caused to assets and liability. Drug trafficking using drones is another area of concern.
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https://www.marketsandmarkets.com/Market-Reports/unmanned-aerial-vehicles-uav-market-662.html
