Pune,India, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The global drone software market size is expected to experience exponential growth by reaching USD 5,961.6 Million by 2027 while exhibiting an astounding CAGR of 25.05% between 2020 and 2027. This is attributable to the increasing adoption of advanced technologies such as artificial intelligence and machine learning in the development of drone software across the globe. Fortune Business Insights, in its latest, report, titled, “Drone Software Market Size, Share & Industry Analysis, By Architecture (Open Source and Closed Source), By Platform (Application-Based Software and Desktop-Based Software), By Application (Analytics, Image Processing, and Control & Data Capture), and Regional Forecast, 2020-2027,” observes that the market stood at USD 1,165.3 million in 2019 and is likely to gain momentum in the forthcoming years.
COVID-19 Propels the Demand for Drones Owing to Increasing Focus on Contactless Operations
The COVID-19 pandemic has led to curbs in the movement of the people to contain the widespread effects of the disease. The nature of actions such as complete lockdown, and people remaining quarantined at their home spaces have severely impacted the economic condition of several industries such as hospitality, entertainment, travel, manufacturing, and others. However, the demand for autonomous drones is showcasing a tremendous surge to perform contactless and remote operations across several industries. The companies are increasing the adoption of advanced technologies in drones to pace up operations and respond quickly to several crises and anomalies.
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List of the Companies Operating in the Global Market for Drone Software:
- Airware, Inc (U.S.)
- 3D Robotics (U.S.)
- Dreamhammer Inc. (U.S.)
- Drone Volt (France)
- DroneDeploy Inc. (U.S.)
- ESRI (U.S.)
- Pix4D (Switzerland)
- Precisionhawk Inc. (U.S.)
- Sensefly Ltd.(Switzerland)
- Skyward Ltd. (U.S.)
- DJI (China)
- DroneDeploy (U.S.)
- Other Players
Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2019 | USD 1,165.3 Million |
| Revenue forecast in 2027 | USD 5,961.6 Million |
| Growth Rate | CAGR of almost 25.05% during 2020-2027 |
| Base Year | 2019 |
| Historic Years | 2016-2018 |
| Forecast Years | 2020- 2027 |
| Segments Covered | By Architecture Analysis, By Platform Analysis, By Application Analysis |
| Forecast Units | Value (USD Million), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2027 |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Airware Inc (U.S.), 3D Robotics (U.S.), Dreamhammer Inc. (U.S.), Drone Volt (France), DroneDeploy Inc. (U.S.), ESRI (U.S.), Pix4D (Switzerland), Precisionhawk Inc. (U.S.), Sensefly Ltd.(Switzerland), Skyward Ltd. (U.S.), DJI (China), DroneDeploy (U.S.) and Other key players |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Drones are extensively adopted in situations where human intervention is deemed difficult or risky. They enable all-round support by reverting back real-time audio-video information of the activities at the ground. They are equipped with advanced drone software features that require high processing power to solve complex applications such as accurate monitoring and surveying services. The software executes and stores data efficiently while ensuring less usage of CPU, and less draining of the battery.
What does the Report Include?
The global UAVs software market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Adoption of Artificial Intelligence in Drones to Favor Growth
The unmanned aerial vehicles (UAVs) or drones have a built-in computerized technology such as GPS, programmable controllers, sensors and cameras, and other equipment that facilitate automated flights. In addition to this, the inclusion of advanced technologies such as artificial intelligence (AI) in drone software is aiding in accurate object tracking, obstacle detection, and prevention, among others. The increasing focus on developing smart cities that include advanced features such as well-connected homes, along with the adoption of AI-based security surveillance is driving the demand for drones. This is expected to further boost the global drone software market growth in the forthcoming years.
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SEGMENTATION
Open Source Segment to Remain Dominant; Easy Availability of Open Source Software to Spur Demand
The open source segment, based on architecture, is expected to remain at the forefront and hold the highest market share owing to the easy availability and affordability of the open source drone software during the forecast period. Besides, the closed source segment held a market share of 17.4% in 2019 and is likely to gain momentum owing to the rising demand for customized and secured architecture in UAVs from military purposes.
REGIONAL INSIGHTS
Presence of Major Companies in North America to Promote Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global UAVs market in the forthcoming years. This dominance is attributed to the presence of multiple established commercial UAVs manufacturers in the region. Additionally, the region stood at USD 421.14 million in 2019. The market in Asia-Pacific is expected to showcase a significant growth during the forecast period. This is ascribable to factors such as the increasing adoption of drones that are driving the demand for drone software across several industrial applications such as agriculture, construction, and infrastructure, among others between 2020 and 2027.
COMPETITIVE LANDSCAPE
Collaboration between Major Companies to Consolidate Their Market Positions
The global drone software market is dominated by major companies such as DroneDeploy and Airwave. These companies are collaborating with the other key players to strengthen their positions in the highly competitive global marketplace. The other major companies such as 3D Robotics and Dreamhammer, Inc. are set to adopt strategies such as the introduction of new products, merger and acquisition, and partnership to maintain their market presence during the forecast period.
Industry Development
- July 2020: Aerodyne Group, a Malaysian drone software company, announced its collaboration with Celcom Axiata Berhad to develop IR 4.0 solutions that focus on the agricultural and urban sectors. The collaboration is aimed at jointly developing innovative drone solutions by adopting automation, artificial intelligence (AI), and machine learning technologies.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Drone Software Market
- Impact of COVIC-19 Pandemic on the Global Drone Software Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
TOC Continued…!
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