The global drone analytics market was figured at $2,717.4 million in the year 2020 and is growing at a CAGR of 28.9% during the forecast period from 2021 to 2027.
Drones are advantageous in efficiently arranging data in agriculture, infrastructure, and the fuel industry. The growing need for drones in these industries is accelerating the demand for drone analytics solutions.
The market's strong potential is drawing companies to invest in drone analytics solutions. Drone monitoring is usually done across construction sites and industries like fuel and agriculture. The major purpose of drone analytics is to check out the data obtained from the drone. The drone packages requirement is rising acutely with the growing demand for high-resolution cameras and video capturing equipment. However, the data often comes as an unorganized mess from the drones, used mainly for mapping, video making, and equipment tracking. The use of drone analytics maintains a better understanding of the data.
Unmanned aerial vehicles (UAVs) or drones are the popular aircraft devices that are used the capture the image and videos of a particular site. The device is accessed manually by the remote through the pilot's directions or by automotive systems. Several sectors including, the military, government, and commercial are using the device for different purposesThe ability of drones to gather visual information quickly is creating a significant impact in commercial sectors.The ability of drones to gather visual information quickly is creating a significant impact in commercial sectors Other than that, the drone is also proven helpful in checking out the construction sites. These factors benefit the agriculture segment, along with infrastructure and inventory management. Drone analytics allows farmers to get information about large plots, track crop health, analyze temperature and soil.
The advantageous perks of drones are inviting investors to invest in the development of progressive software. The widely used drones are expanding the Drone Analytics market, however, raising the concerns of privacy. A hacker can originate several ways to quickly hack a drone and take control over videos and images. This way, any unauthorized person can get access to the sensitive information which was being delivered to the authority. These safety concerns might create a barrier to the growth of the drone analytics market through the forecast time.
Drones are ensuring high advantages in the agriculture industry by allowing farmers to check out data of the fields. The agriculture factors are building a great opportunity that will drive the establishment of software to manage data efficiently. That's why start-ups and other renowned businesses are seeing agriculture drones as an opportunity to obtain heavy profit.
Drones can easily share the reports of places that are inaccessible through other means. IoT technologies can enhance the profitable features of the drone by installing a network to gather data and sharing it with the cloud app for future references. Moreover, drones can easily reduce manual work and risk of life by offering faster, cheaper, and safer services. Incorporating IoT in drones could sustain the rise of the drone analytics market during the forecast time.
Regional Analysis
The Asia-Pacific (APAC) region is anticipated to observe active growth throughout the forecast period. The arrival of various drone start-up companies in the country is the primary reason for the growth of the market. Moreover, the increasing use of drones in the agriculture industry, government work, and for other non-military tasks is being witnessed in countries like China, India, Japan, Singapore, Malaysia, and Australia, which might lead to the creation of various growth opportunities
COVID-19 Impact Analysis
The lockdown imposed by the government due to the COVID-19 outbreak halted the import and export of unimportant items in the year 2020. Thus, the unavailability of raw materials forced businesses to shut the production. COVID-19 pandemic produced several obstacles in the development of innovative drone analytics systems in countries. However, COVID-19 impact on the Drone analytics market is incalculable and might remain the same until the end of 2021
Key Market Segments
By Type
By Application
By End-Use
By Region
North America
o The U.S.
o Canada
o Mexico
Europe
§ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
§ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
South America
o Brazil
o Argentina
o Rest of South America
Key Players
