Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Drone Analytics Market Research Report: By Component, Solution, Deployment, Application, Industry - Global Industry Analysis, Trends and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The value of the global drone analytics market will witness a 32.1% CAGR during 2020-2030, to reach $45,575.9 million by 2030, from $2,815.6 million in 2020.
The major reasons behind the rising demand for such solutions are:
- Growing UAV Usage in Defense & Security Sector: The defense & security sector has always been a prominent user of drones, also known as unmanned aerial vehicles (UAVs), for reconnaissance, attack, emergency supply, search & rescue, and border patrol applications. Resultingly, UAV and software firms are offering advanced analytics solutions for defense departments to gather real-time insights into sensitive areas, from the pictures and videos being captured via drones.
- Rising Usage of UAVs for Commercial Applications: With governments easing the norms for the non-military usage of UAVs, the demand for such platforms is rising in commercial applications. Currently, the building & construction, oil & gas, government, metals & mining, insurance, agriculture, and media & entertainment sectors are becoming important from the point of the drone analytics market advance.
The COVID-19 pandemic led to a reduced demand for drone analytics solutions because of the decreasing procurement of UAVs themselves. The widespread financial distress and stay-at-home orders forced players to decrease their spending on the development of advanced analytics solutions for drone-based imagery. Moreover, the hampered production and supply chains reduced drone sales, which, in turn, led to a decrease in the procurement of the associated software. Further, most mining, oil & gas, construction, and entertainment activities stopped, which further affected the drone analytics market negatively.
In the past, the drone analytics market, under the component segment, was dominated by the hardware category. To be able to use analytics software, companies have to first have a drone. Thus, the increasing demand for real-time inspection & monitoring, to make data-driven decisions, in many industries is propelling drone sales.
The end-to-end solution bifurcation is set to witness the higher CAGR in the drone analytics market in the years to come. Such solutions are comprehensive packaged solutions that meet all the business requirements, right from data collection to visualization and analysis. Due to the growing demand for them, market players are providing processing, analysis, and management capabilities in a single solution.
In the near future, the cloud bifurcation will continue to hold the larger drone analytics market share, based on deployment. Cloud-based solutions reduce the IT expenditure, offer easy data storage scalability, and make the data accessible from any internet-connected device, which is why an increasing number of businesses are turning to cloud computing.
The fastest growth in the application segment of the drone analytics market in the coming years is predicted to be witnessed in the 3D modeling category. Since UAVs can capture images of oblique objects, they are increasingly being used to create 3D models. The high-resolution images provided by such platforms allow for cost-effectiveness and better efficiency compared to those taken from traditional airborne platforms.
North America contributes the highest revenue to the drone analytics market because of the rising demand for such solutions from the oil & gas, agriculture & forestry, and energy & utilities sectors. Moreover, to meet the demands of these and other industries better, market players are integrating enhanced technologies in their solutions, including machine learning (ML), internet of things (IoT), and computer vision.
Major players in the global drone analytics market are Aerovironment Inc., PrecisionHawk Inc., Pix4D SA, DroneDeploy Inc., Delta Drone SA, Delair SAS, Terra Drone Corporation, Kespry Inc., VIATechnik LLC, and Environmental Systems Research Institute Inc.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Definition of Market Segments
5.1 By Component
5.1.1 Hardware
5.1.2 Software
5.1.2.1 Desktop-based
5.1.2.2 Mobile
5.1.3 Service
5.1.3.1 Professional
5.1.3.2 Managed
5.2 By Solution
5.2.1 End-to-End
5.2.2 Point
5.3 By Deployment
5.3.1 Cloud
5.3.2 On-premises
5.4 By Application
5.4.1 Thermal Detection
5.4.2 Geolocation Tagging
5.4.3 Aerial Monitoring
5.4.4 3D Modeling
5.4.5 Ground Exploration
5.4.6 Others
5.5 By Industry
5.5.1 Agriculture & Forestry
5.5.2 Mining & Quarrying
5.5.3 Logistics & Transportation
5.5.4 Oil & Gas
5.5.5 Construction
5.5.6 Defense & Security
5.5.7 Energy & Utilities
5.5.8 Insurance
5.5.9 Others
Chapter 6. Industry Outlook
6.1 Market Dynamics
6.1.1 Trends
6.1.1.1 Preference for beyond-visual-line-of-sight (BVLOS) operations in drones
6.1.1.2 Utilization of drones for agricultural purposes
6.1.2 Drivers
6.1.2.1 Rising demand for drone solutions in defense & security industry
6.1.2.2 High utilization of drones for monitoring movement of individuals
6.1.2.3 Increasing demand for drone analytics solutions in commercial applications
6.1.2.4 Impact analysis of drivers on market forecast
6.1.3 Restraints
6.1.3.1 Stringent regulations related to drone operations
6.1.3.2 Impact analysis of restraints on market forecast
6.1.4 Opportunities
6.1.4.1 Introduction of intelligent photogrammetry software
6.1.4.2 Increasing utilization of drone solutions in oil & gas industry
6.2 Value Chain Analysis
6.3 Porter's Five Forces Analysis
Chapter 7. Global Market Size and Forecast
7.1 By Component
7.1.1 Software, by Type
7.1.2 Service, by Type
7.2 By Solution
7.3 By Deployment
7.4 By Application
7.5 By Industry
7.6 By Region
Chapter 8. North America Market Size and Forecast
8.1 By Component
8.1.1 Software, by Type
8.1.2 Service, by Type
8.2 By Solution
8.3 By Deployment
8.4 By Application
8.5 By Industry
8.6 By Country
Chapter 9. Europe Market Size and Forecast
9.1 By Component
9.1.1 Software, by Type
9.1.2 Service, by Type
9.2 By Solution
9.3 By Deployment
9.4 By Application
9.5 By Industry
9.6 By Country
Chapter 10. APAC Market Size and Forecast
10.1 By Component
10.1.1 Software, by Type
10.1.2 Service, by Type
10.2 By Solution
10.3 By Deployment
10.4 By Application
10.5 By Industry
10.6 By Country
Chapter 11. LATAM Market Size and Forecast
11.1 By Component
11.1.1 Software, by Type
11.1.2 Service, by Type
11.2 By Solution
11.3 By Deployment
11.4 By Application
11.5 By Industry
11.6 By Country
Chapter 12. MEA Market Size and Forecast
12.1 By Component
12.1.1 Software, by Type
12.1.2 Service, by Type
12.2 By Solution
12.3 By Deployment
12.4 By Application
12.5 By Industry
12.6 By Country
Chapter 13. Major Countries
13.1 U.S. Market Revenue, By Application
13.2 U.K. Market Revenue, By Application
13.3 China Market Revenue, By Application
13.4 Saudi Arabia Market Revenue, By Application
13.5 Brazil Market Revenue, By Application
Chapter 14. Competitive Landscape
14.1 List of Market Players and Their Offerings
14.2 Market Share Analysis of Key Players
14.3 Global Strategic Developments in the Market
14.3.1 Partnerships and Client Wins
14.3.2 Mergers and Acquisitions
14.3.3 Product Launches
Chapter 15. Company Profiles
15.1 Aerovironment Inc.
15.1.1 Business Overview
15.1.2 Product and Service Offerings
15.1.3 Key Financial Summary
15.2 Pix4D SA
15.2.1 Business Overview
15.2.2 Product and Service Offerings
15.3 PrecisionHawk Inc.
15.3.1 Business Overview
15.3.2 Product and Service Offerings
15.4 DroneDeploy Inc.
15.4.1 Business Overview
15.4.2 Product and Service Offerings
15.5 Delair SAS
15.5.1 Business Overview
15.5.2 Product and Service Offerings
15.6 Delta Drone SA
15.6.1 Business Overview
15.6.2 Product and Service Offerings
15.7 Terra Drone Corporation
15.7.1 Business Overview
15.7.2 Product and Service Offerings
15.8 VIATechnik LLC
15.8.1 Business Overview
15.8.2 Product and Service Offerings
15.9 Kespry Inc.
15.9.1 Business Overview
15.9.2 Product and Service Offerings
15.10 Environmental Systems Research Institute Inc.
15.10.1 Business Overview
15.10.2 Product and Service Offerings
Chapter 16. Appendix
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