Drone Analytics Market size is to reach USD 2931.6 million by 2028 at a CAGR of 15.4% | Valuates Reports
BANGALORE, India, May 31, 2022 /PRNewswire/ -- The Global Drone Analytics market is segmented By Type (On-Premises, On-Demand), By Application (Agriculture & Forestry, Construction, Insurance, Mining & Quarrying, Utility, Telecommunication, Oil & Gas, Transportation, Scientific Research) : Global Opportunity Analysis and Industry Forecast, 2021–2028.
The Drone Analytics Market size is projected to reach USD 2931.6 Million by 2028, from USD 1070.7 Million in 2021, at a CAGR of 15.4% during 2022-2028.
Major Factors Driving the growth of Drone Analytics Market
The drone analytics market is also growing due to rising demand for sophisticated industry-specific analytical solutions and high demand for drone analytics in applications such as Agriculture & Forestry, Construction, Insurance, Mining & Quarrying, Utility, Telecommunication, and Oil & Gas, Transportation, and Scientific Research.
Drone analytics helps save time and survey costs, provides accurate and exhaustive data, also can help map otherwise inaccessible areas
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TRENDS INFLUENCING THE GROWTH OF DRONE ANALYTICS MARKET
Aerial intelligence solutions for construction sites help to rapidly collect and analyze comprehensive imagery. Drone analytics can assist with construction planning, earthwork management, and progress monitoring, among other things. Architects can use drone data to design and plan project construction using extremely accurate 2D and 3D maps with field measurements such as length and area tools. This results in greater cost efficiency. Advanced analytics such as orthomosaics, map generation, digital surface models (DSMs), 3D point clouds, and more are generated automatically using drone analytics. Drone data can be used right away to take measurements, calculate the volume of stockpiles, and track emergency damage. Thus, the increasing adoption in the construction industry is expected to drive the growth of the Drone Analytics Market
The growing adoption of drone analytics in agriculture is expected to drive market growth. Analyzing the health of their crops and output is critical for farmers and industrial agriculturists to guarantee that they can earn enough returns on their investment. Drone analytics software aids in the extraction of crucial data from a drone map in order to provide various field and crop reports. It converts aerial photos into 2D maps and 3D elevation models automatically, has an ever-growing library of on-demand research tools and makes data sharing simple. With more accurate and consistent data, we can gain a better understanding of farming assets and livestock. Significant cost savings in scouting and measurement, making the process more scalable and repeatable.
Insurance is one of the industries that is already deploying and expanding the potential of commercial drones, for better risk management via improved data collection, analysis, and actionable insights, lower operational costs via improved efficiency and effectiveness in claims adjudication, claims processing, and customer experience. Aerial site inspections can reveal property attributes that enable the owner to either pursue a lower risk profile or take suitable activities to minimize overall risk and justify premium reductions. This in turn is expected to drive the growth of the Drone Analytics Market.
Furthermore, Drone mining surveying allows a professional to get particular Aerial data on mining sites in order to improve productivity, planning, safety, inventory management, and other aspects of the business. Drone Mining Surveys are UAVs equipped with RGB cameras that capture images of a location from multiple angles in the mining business. The data is then processed by a comprehensive and professional photogrammetry program to create Geo-tagged 3D Maps, Contour Lines, Digital Terrain Models (DTMs), Digital Surface Models (DSMs), and other geo-tagged maps of the mining site for the operators to analyze in-depth.
Drone-delivered real-time photos and video analytics can also aid in tracking the course of oil spills or fires, allowing businesses to better manage emergency response activities and channel resources appropriately while ensuring worker safety and wellbeing.
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DRONE ANALYTICS MARKET SHARE ANALYSIS:
Based on application, the construction segment is expected to develop at the fastest rate. The adoption of analytics tools for monitoring and progress tracking at building sites is responsible for this predicted high growth rate. One of the elements driving the adoption of drone analytics solutions in the construction industry is the availability of custom-tailored solutions.
Based on region, North America is expected to be the most lucrative region. The drone analytics market in the region is being fueled by factors such as rising funding for drone analytics and the growing need for analytical solutions from the commercial sector in the region.
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Key Players:
- Agribotix
- Aerovironment
- Dronedeploy
- Delta Drone
- ESRi
- Precisionhawk
- Viatechnik
- Pix4d
- Kespry
- Optelos
- HuvrdatA
- Sentera
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SIMILAR REPORTS:
- The Global Drone Package Delivery market size was USD 241.53 Million in 2020 and it is expected to reach USD 3694.38 Million by the end of 2027, with a CAGR of 57.55% during the forecast period 2021-2027.
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- The Global Drone Software market size is projected to reach USD 10030 million by 2027, from USD 1004 million in 2020, at a CAGR of 38.9% during 2021-2027.
- The Global Commercial Drone market size is projected to reach USD 34500 million by 2026, from USD 6510.8 million in 2020, at a CAGR of 32.0% during 2021-2026.
- The Global Military Drone market size is estimated to be worth USD 11770 million in 2022 and is forecast to a readjusted size of USD 17270 Million by 2028 with a CAGR of 6.6% during the review period.
- The Global Video Analytics market size was valued at USD 4,102.0 million in 2019 and is projected to reach USD 21,778.0 million by 2027, registering a CAGR of 22.7% from 2020 to 2027.
- The Global Unmanned Aerial Vehicle market size is estimated to be worth USD 32350 million in 2022 and is forecast to a readjusted size of USD 72320 million by 2028 with a CAGR of 14.4% during the review period.
- The Global Drone Sensor market size is estimated to be worth USD 410.7 million in 2022 and is forecast to a readjusted size of USD 1184.1 million by 2028 with a CAGR of 19.3% during the review period.
- The Global Agricultural Robots market size is estimated to be worth USD 5820.3 million in 2022 and is forecast to a readjusted size of USD 16120 million by 2028 with a CAGR of 18.5% during the review period.
- The Global Agriculture Drones market size is estimated to be worth USD 1155.6 million in 2022 and is forecast to a readjusted size of USD 3088.1 million by 2028 with a CAGR of 17.8% during the review period.
- The Global Drone Logistics and Transportation market size is projected to reach USD 12180 million by 2028, from USD 5752.2 million in 2021, at a CAGR of 10.8% during 2022-2028.
- The Global Drone Simulator market size is estimated to be worth USD 166.5 million in 2022 and is forecast to a readjusted size of USD 276.2 million by 2028 with a CAGR of 8.8% during the review period.
- The Global Drones market size was USD 4350.27 million in 2020 and it is expected to reach USD 5437 million by the end of 2027, with a CAGR of 3.94% during 2021-2027.
- The Global Small UAV market size was USD 4350.3 Million in 2020 and it is expected to reach USD 5726.2 Million by the end of 2027, with a CAGR of 3.9% during 2021-2027.
- Global and United States Drone Defense System Market Insights, Forecast to 2027
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