Dublin, May 01, 2024 (GLOBE NEWSWIRE) -- The "Real Estate Drone Services Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The real estate drone services market size has grown rapidly in recent years. It will grow from $0.42 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth observed in the historical period can be attributed to increased demand for aerial imagery and mapping services, the cost efficiency and time-saving benefits offered, enhanced property marketing and visualization, improved safety and risk mitigation, regulatory support and compliance, growing adoption by real estate agencies and developers, and rising awareness and education among industry professionals. 
The real estate drone services market size is expected to see rapid growth in the next few years. It will grow to $0.96 billion in 2028 at a compound annual growth rate (CAGR) of 18%. The anticipated growth in the forecast period can be attributed to the expansion into new applications such as property inspection and monitoring, the demand for 3D modeling and digital twins in real estate, market penetration in emerging economies, strategic partnerships with real estate firms and construction companies, regulatory evolution to accommodate drone operations, and an increased focus on sustainability and environmental impact assessment in real estate projects. Key trends expected in the forecast period encompass the increasing demand for aerial photography, the expansion of services for property inspection, the integration of 3D mapping capabilities, the adoption of thermal imaging, the growth in demand for site analysis, and the adoption of drone technology for appraisal.
The anticipated growth in the construction industry is set to drive the expansion of the real estate drone services market. For instance, as of January 2024, the U.S. Census Bureau reported the sale of approximately 668,000 new homes in 2023, indicating a 4.2% increase compared to the previous year's total of 641,000 units. Moreover, in April 2023, the United States Census Bureau revealed that the overall value of residential and non-residential construction in the US grew by over 8% between 2020 and 2021. Consequently, the surge in the construction industry is a key driver behind the growth of the real estate drone services market.
Key players in the real estate drone services market are at the forefront of developing technologically advanced solutions, exemplified by offerings such as 3D virtual tours, designed to enhance data collection capabilities and provide more comprehensive insights. Leveraging three-dimensional visualizations and virtual reality, 3D virtual tours offer immersive and realistic property experiences, elevating property showcasing and decision-making for buyers and investors. For example, in February 2024, Rolington Media LLC, a US-based company specializing in creating immersive 3D virtual tours, introduced cutting-edge 3D virtual tours, professional real estate photography, and advanced drone services. This innovation transforms property presentations for real estate professionals, providing tailored solutions including 3D rendering and 2D floor plans for agents, investors, and property managers. Advanced drone services and superior photography create engaging experiences, attracting buyers and boosting sales in a competitive market. Rolington Media utilizes state-of-the-art 3D real estate technology to convert standard property listings into immersive, self-guided virtual model homes, allowing potential buyers to explore properties comprehensively from the comfort of their own homes.
In June 2021, Volatus Aerospace Corporation, a Canada-based leading provider of integrated drone solutions, successfully acquired ConnexiCore LLC for an undisclosed amount. This strategic acquisition significantly expands Volatus Aerospace's market reach and operational capacities within the drone services industry. ConnexiCore LLC, based in the US, specializes in providing commercial drone services and solutions for the real estate industry.
North America was the largest region in the real estate drone services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real estate drone services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the real estate drone services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Service: Mapping and Surveying; Inspection; Photography and Filming
2) By Platform: Operator Software; Cloud-based
3) By Customer Type: Commercial; Residential
Key Companies Mentioned: Multivista Systems LLC; Terra Drone Corporation; Aerodyne Group; Dronedeploy Inc.; Cyberhawk Innovations Limited
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $0.49 Billion |
| Forecasted Market Value (USD) by 2028 | $0.96 Billion |
| Compound Annual Growth Rate | 18.0% |
A selection of companies mentioned in this report includes, but is not limited to:
- Multivista Systems LLC
- Terra Drone Corporation
- Aerodyne Group
- Dronedeploy Inc.
- Cyberhawk Innovations Limited
- Precision Hawk Inc.
- Drone Dispatch Inc.
- Firmatek LLC
- Sky-Futures Ltd.
- EagleHawk LLC
- Edall Systems LLC
- FLIGHTS Inc.
- Construction Drone Services Ltd.
- RUAS Corp.
- Identified Technologies Inc.
- Airware Inc.
- Aerial Drone Services Inc.
- Aerial Vision Ltd.
- AERIUM Analytics
- Aerolion Technologies
- Drone Base Inc.
- Martek Aviation Corp.
- Drone Services Canada Inc.
- Dronegenuity LLC
- DJM Aerial Solutions
- Aerotas LLC
For more information about this report visit https://www.researchandmarkets.com/r/py4efq
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