This Latest Study provides a detailed analysis of the drone analytics market from 2017 to 2022. It discusses industry and technological trends prevailing in the market and examines factors that are expected to drive or restrain the growth of the market in the near future.
The drone analytics market is estimated to be USD 1.57 billion in 2017 and is projected to reach USD 5.41 billion by 2022, at a CAGR of 28.11% from 2017 to 2022. Key drivers influencing the growth of the market include the increasing demand for sophisticated industry-specific analytical solutions that can help companies to obtain actionable insights from the data captured by drones.
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The drone analytics market is segmented on the basis of industry, type, application, solution, and region. On the basis of industry, the market has been segmented into agriculture & forestry, construction, insurance, mining & quarrying, utility, telecommunication, oil & gas, transportation, scientific research, and others. The agriculture & forestry segment is expected to lead the drone analytics market during the forecast period, owing to the increasing adoption of drone analytics in the agriculture industry for crop health monitoring and optimizing agriculture land utilization.
The construction industry segment is projected to grow at the highest CAGR during the forecast period.
Based on industry, the construction segment of the drone analytics market is projected to grow at the highest CAGR from 2017 to 2022. The rising use of drone analytics to track the progress of construction activities is expected to fuel the growth of the drone analytics market. The construction industry uses drones to carry out inspection, aerial monitoring, etc., and provide actionable insights.
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The 3D modelling segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the drone analytics market has been segmented into thermal detection, geolocation tagging, aerial monitoring, ground exploration, volumetric calculation, 3D modelling, and others. The 3D modelling segment is projected to grow at the highest CAGR during the forecast period, owing to the growth of the construction industry where the 3D modelling application is widely used.
Based on type, the on-demand segment is projected to grow at a higher CAGR as compared to the on-premises segment during the forecast period. The high growth rate of the on-demand segment can be attributed to the use of drone analytics software as a service by various end-use industries, such as agriculture and mining.
Asia Pacific is projected to be the fastest-growing market for drone analytics during the forecast period.
The drone analytics market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This can be mainly attributed to the increasing adoption of data-driven technologies in the region's emerging economies, such as China and India. Furthermore, the rise in demand for unmanned systems in these countries is also anticipated to create additional demand for the drone analytics software and service, which is expected to drive the drone analytics market.
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Key Players in Market
Airware (US), DroneDeploy (US), Delta Drone (France), PrecisionHawk (US), Pix4D (Switzerland), and AeroVironment (US) are expected to be the leading players in the drone analytics market during the forecast period. The leading players are launching new products in the market that can provide end-to-end drone analytics solutions to the end users.
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