Drone Analytics Software Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Drone Analytics Software Market
The Drone Analytics Software market size was valued at USD 1.99 billion in 2022, and the market is now projected to grow from USD 2.15 billion in 2023 to USD 4.45 billion by 2030, exhibiting a CAGR of 10.95% during the forecast period of 2022-2030.
The drone analytics software market growth was unpredictably affected by COVID-19, leading to sales crises and an increase in maintenance costs. Investment in aerospace and defense dropped, leading to a decrease in the demand for UAVs. Yet, drones have been used diversely, such as in delivering medical supplies, public spraying, and monitoring, while economic and travel hurdles have been eased through vaccination campaigns.
Market growth is driven by increased spending on developing advanced drone analytics software capital. It is exemplified by substantial investments in AI-powered analytics platforms; Precision Hawk spent $32 million on its own initiative. Major corporations pocket billions in a bid to corner an ever widening niche of the surging Drone Analytics Software market share.
Unmanned aerial vehicles have brought about a transformation in ground surveillance, thereby lessening effort, time wastage and human blunders. They are common in the building industry where they scrutinize unsafe zones and help in gathering real-time information while enhancing communication in the field. For a holistic approach to the construction process, drones are essential in taking aerial photographs, visualization of projects as well as generating 3D building information models and orthomosaic maps, assisting greatly in improving decision making during each step of the entire construction process by capturing crucial details such as existing conditions of the site.
Comprehensive Drone Analytics Software Market
The Drone Analytics Software market is growing at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Type Analysis, by Solution Analysis, by Application Analysis by Vertical Analysis. The Type Analysis includes on-premises and on-demand. The Solution Analysis includes end-to-end solution and point solution. The Application Analysis includes Geolocation Tagging, Thermal Detection, Ground Exploration, Aerial Monitoring, 3D Modelling, Volumetric Calculations, and Others.
The North America area lead the Drone Analytics Software market with the resource of estimate a market size of USD 549.9 million in 2022 due to the presence of numerous companies and the growing demand for drones in the region.
The top players in the market play a crucial role in the Aerospace & Defence industry assuring industrial prospectus development and setting market standards. These players include, Dreamhammer Inc. (U.S.), ESRI (U.S.), DroneDeploy Inc. (U.S.), i3D Robotics (U.S.), Precisionhawk Inc. (U.S.), Pix4D (Switzerland), DJI (China), Sensefly Ltd. (Switzerland), Airware, Inc (U.S.), Drone Volt (France) these market players provide a competitive landscape.
In December 2022, A memorandum of understanding has been signed between the Chennai drone startup, Garuda Aerospace and the AI giant, Cognizant. Through the partnership, their goal is to develop advanced digital features within its drones. The two companies will provide new ideas to help companies grow in production capacity as well as flexibility amidst profitability concerns.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 10.95% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Type, Solution, Application, and Geography
By Type
On-Premises
On-Demand
By Solution
End-to-End Solutions
Point Solutions
By Application
Thermal Detection
Geolocation Tagging
Aerial Monitoring
Ground Exploration
Volumetric Calculations
3D Modelling
Others
North America (By Type, Solution, Application, and Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Type, Solution, Application, and Country)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Type, Solution, Application, and Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Rest of Asia Pacific (By Application)
Rest of the World (By Type, Solution, Application, and Country)
- Middle East Africa (By Application)
- South America (By Application)
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