The Report Focuses on Drone Analytics Market in Asia Pacific Market, especially in China, Japan, Korea, Taiwan, Southeast Asia, India, Australia.
— Drone analytics consist of vital information and insights accumulated by drones during their run. The software created by developers allow end-users to capture videos in high resolutions and analyze flight duration and other metrics required for enhancing the drone’s efficiency as well as the application. The global drone analytics market report by Market Research Future (MRFR) covers the market size as well as revenue estimations of key players considering various trends and opportunities.
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The global drone analytics market is expected to register 27.23% CAGR from 2019 to 2024 (forecast period). It is driven by adoption of drones by sectors of mining & quarrying, agriculture & forestry, and oil & gas. Investments in furthering the development of drones combined with high demand for analytics in commercial and industrial applications can augment the market size till 2024. Insurance firms are using drones for assessing inaccessible rooftops of buildings for settling claims.
High costs of developing software for attaining precise insights combined with concerns over cybersecurity data can pose a challenge to the market.
The global drone analytics market is segmented by type, solution, application, and industry.
By type, it is bifurcated into on-demand and on-premise. The on-demand segment is anticipated to exhibit a high CAGR during the forecast period. This can be attributed to the flexibility of the business model which lets customers to pay as per the procurement of services.
By solution, it is segmented into point solution and end-to-end solutions. The end-to-end solutions segment led the drone analytics market in terms of revenue in 2018. It is predicted to register a phenomenal CAGR during the forecast timespan.
By application, it is segmented into 3D modeling, thermal detection, geolocation tagging, aerial monitoring, ground exploration, volumetric calculations, and others. The 3D modeling application can generate the highest market revenue due to their use by farmers for surveying vast expanses of land. This allows them to gain real-time insights and manage inventory of goods in an organized manner.
By industry, the market caters to telecommunications, scientific research, transportation, construction, mining & quarrying, oil & gas, agriculture & forestry, insurance, utility, and others. The agriculture & forestry segment is predicted to be the biggest proponent of the software within the market for agricultural purposes. This is exemplified by the report by Munich Reinsurance Inc. which stated the use of drones for assessment and management of farms. On the other hand, the construction industry can exhibit a terrific demand for assessing construction sites or undug lands as well as their subsequent inspection and monitoring.
Geographically, the drone analytics market comprises Latin America, North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America is touted to dominate the market due to adoption of drones by industry giants in sectors of oil & gas, agriculture & forestry, and logistics. High demand for analytics as well as funding for drone analytics
On the other hand, the APAC region is predicted to exhibit a robust CAGR during the assessment period due to availability of low-cost drones and manufacture of lightweight unmanned aerial vehicles (UAVs) in China. Furthermore, the uptick witnessed in infrastructural projects in India and China combined with establishment of drone analytic firms can augur well for the APAC drone analytics market.
AeroVironment, Inc. (US), HUVRdata (US), Esri (US), DJI (China), DroneDeploy (US), 3D Robotics (US), Delta Drone (France), VIATechnik LLC (US), Pix4D SA (France), PrecisionHawk, Inc. (US), AgEagle Aerial Systems, Inc. (US), Airware (US), Optelos (US), Kespry (US), Sentera, Inc. (US), and others are the main players profiled in the drone analytics market.
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