New York, United States , Dec. 07, 2022 (GLOBE NEWSWIRE) -- The Global Drone Analytics Market Size was valued at USD 2.10 billion in 2021 and is expected to grow at a CAGR of 24.7% during the forecast period. The global drone analytics market size is expected to surpass USD 13.09 billion by 2030. Drone analytics is frequently used to gather, examine, and control the data required to make critical decisions.
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The data is also used in a variety of industries, such as mining and construction, to calculate the stockpile and raw material quantities in inventories, providing accurate inventory analysis considerably more quickly than with conventional methods. Numerous applications, including geolocation tagging, ground investigation, 3D modelling, and volumetric computations, use data analytics. In order to provide more information, some of the drone analytics technologies can be utilised in conjunction with other analytics tools, such as business intelligence platforms.
The expansion of the market is being accelerated by the development of new and cutting-edge software and technologies. The drone analytics market is expanding as a result of the rising demand for drone analytics in commercial applications. The market's expansion is also booming thanks to the employment of drones in numerous applications. Drones are needed for inspection and surveillance across a variety of industries, including agriculture, infrastructure, energy, construction, telecommunication, and many others, which will boost market growth throughout the projection period. The Drone Analytics Market Analysis highlights the market factors that would raise the CAGR.
In recent years, there have been more businesses entering the drone analytics sector, particularly in developing nations like China and India. The development of cloud-based decision support systems has given service providers in the drone analytics market new opportunities and sources of income. Additionally, there is a recent surge of personalization in the industry. The drone analytics market is now in a stage of development; future industry growth will depend on the use of drones in various applications. Precision farming and mining have seen encouraging outcomes from drone-based monitoring. The examination of a number of important elements related to the land and its current status is aided by the use of drone analytics solutions. The mining and agricultural industries need to know this information.
Cybersecurity concerns are a significant market barrier, and security-related concerns are on the rise. The high expense of data collection is a big hindrance to the firm. The drone analytics market hasn't improved its cyber security, which is a significant obstacle as cybercrime is becoming more dangerous and putting people in danger. It could prevent the market from growing during the predicted timeframe. The business should follow the Drone Analytics Market Trends to avoid market saturation.
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Covid 19 Impact on Global Drone Analytics Market
Under lockdown, there were less raw materials available because production had been stopped. However, due to the pandemic's effects, a number of businesses started using drones to deliver items to the general people in a number of countries. Many individuals also employed the drone for security since they were unable to leave due to the shutdown. Delays in activities and the production of raw materials have an impact on the pandemic market's expansion. The lockout and closure that several regional governments imposed had an effect on numerous small and high-end market players. Market players are doing everything they can to weather the storm and come out stronger. The drone analytics market will expand over the anticipated time frame.
Browse key industry insights spread across 160 pages with 114 market data tables and figures & charts from the report “Global Drone Analytics Market Size, Share and Statistics, By Type (On-Premises, On-Demand), Solution (End- To- End Solutions, Point Solutions), Application (Thermal Detection, Geolocation Tagging, Aerial Monitoring, Ground Exploration, Volumetric Calculations, 3D Modeling, Others), End User (Agriculture and Forestry, Construction, Insurance, Mining and Quarrying, Utility, Telecommunication, Oil and Gas, Transportation, Scientific Research, Others), Regional Scope(U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast 2021 to 2030” in detail along with the table of contents
Global Drone Analytics Market, By Deployment
Based on deployment, the global drone analytics market is segmented into on-premise and cloud. The largest CAGR is anticipated for the cloud category from 2021 to 2030. The widespread use of cloud systems can be ascribed to their many benefits, including scalability, dependability, convenience, and enormous data storage capacity. Furthermore, using a cloud architecture helps customers plan and manage flights. There is a significant demand for cloud-based deployment types from sectors like construction, agriculture, and mining.
Global Drone Analytics Market, By Application
On the basis of application, the global drone analytics market is segmented into Agriculture & Forestry, Construction, Insurance. Drone analytics are frequently used for crop spraying in agricultural applications. Studies on the advantages of precision farming and drone platforms have shown that farmers can increase crop production by up to 5% while reducing input costs by 5%. Drone analytics may assist farmers in better understanding their crops by enabling closer, more frequent, and more timely inspections of their crops. Farmers can frequently monitor and care for crops in an efficient manner with the use of low-cost drone platforms, which also help to reduce the cost of chemical and inspection treatments.
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Global Drone Analytics Market, By Region
On the basis of region, the global drone analytics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America has established itself as the region responsible for the bulk of market revenue due to the existence of multiple firms and the rising demand for drones in the area, and this trend is likely to continue.
Some Recent Developments in Global Drone Analytics Market
February 2022: According to Garuda Aerospace Private Ltd., it plans to raise more than $30 million to cover the capital costs associated with manufacturing high-quality agricultural drones. They want to invest Rs. 250 crores in drone R&D and production activities in order to effectively compete with global firms. Additionally, they'll spend money on artificial intelligence and data analytics to use drones to boost crop productivity. By improving crop security expertise, farmers' revenue is anticipated to be quadrupled.
February 2022: In partnership with Sitemark, an AI analytics company based in Belgium, H3 Dynamics has unveiled a new Robots-as-a-Service solution for autonomous solar farm monitoring. The DBX drone-in-a-box robots from H3 Dynamics are combined with Sitemark's visual and thermal analytics in this new alliance to automate and enhance remote monitoring operations in large solar farm projects. Over 30,000 ha of solar PV parks in 35 different countries have been inspected by Total, Bouygues, EDF, Engie, and Orix using Sitemark's technology. In order to monitor the progress of solar farm projects, identify solar panel deterioration, and provide on-site security, the DBX robot (video) was created to be permanently placed.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: The major players covered in the drone analytics market report are Delair, AeroVironment, Inc., DroneDeploy, Esri, PrecisionHawk, Inc., Delta Drone, VIATechnik LLC, Pix4D SA, Kespry Inc., Optelos LLC, HUVRdata, Sentera, Inc., BAE Systems, Boeing, Saab AB, Thales Group, Textron Systems, 3DR, Elbit Systems Ltd., and AgEagle Aerial Systems Inc., among other domestic and global players.
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