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The Drone Analytics Market encompasses a range of market factors that influence its growth and dynamics within the larger drone technology landscape. One of the main drivers for the market is drones becoming more popular across industries. The demand for analytics solutions through which these drones can be used to process, store and utilize data generated by numerous drones is increasing as they are being used in agriculture, construction, public safety and infrastructure sectors amongst others. Moreover, widespread recognition of how these unmanned aerial vehicles (UAVs) have become crucial for data collection and surveillance has prompted the need for high-end analytic capabilities capable of exposing all aspects of the collected UAV data.
Technological advancements have a lot to do with market factors surrounding Drone Analytics Market. As drone technologies continue to improve on sensors, cameras, communication systems and flight capabilities; drones collect large amounts of useful data at higher rates than ever before. These market factors include ongoing development of algorithms supporting analytics, artificial intelligence (AI), machine learning (ML), which allow for more advanced analysis on datasets provided. With ongoing technological innovations among companies seeking to offer latest sophisticated approaches using both drone as well as analytical technologies: this eventually promotes competitiveness in overall Drone Analytics Market.
Regulatory frameworks & compliance standards are key market factors within Drone Analytics Market. There are regulations governing commercial use of drones such as airspace management, safety and data privacy issues. To ensure ethical practices are maintained in their application regulatory rules must be followed by both drone operators and analytics providers because strict observance is essential . The ability for analytics solutions to be adaptable enough to keep up with changing laws allows users feel comfortable that their use aligns with responsible industry conduct.
The type or quality of drone powered analytics is an important factor in this particular market? Different markets require specific types or qualities of information derived from aerial photos taken by these objects meaning it should be customized according to specific industry needs? This means that any company wishing to venture into this business should consider how their offerings can be modified to meet these requirements. With regards to this market, its growth is being driven by the need for customized analytics solutions which are willing to handle different projects such as energy and construction.
Market factors include data security and privacy when it comes to adoption of drone analytic solutions. They must ensure that any sensitive material recorded during drone missions is handled with utmost care. Furthermore, robust cybersecurity measures, encryption protocols and privacy features have been key market factors for analytics solution providers in particular. Therefore, companies that address data security and privacy concerns contribute positively to the market dynamics, fostering trust among users and complying with ethical standards and legal requirements.
Affordability is a key determinant of market performance, influencing the take-up and expansion of drone analytics solutions, particularly for small and medium-sized enterprises (SMEs) and sectors with budgetary constraints. Market factors are influenced by the affordability of analytics solutions, as well as the potential return on investment that actionable insights from drone data can yield. Companies that provide cost-effective analytics solutions without compromising quality play a part in driving market factors towards more accessible usage and adoption of drone analytics throughout various industries.
The most prominent market factors within the Drone Analytics Market are strategic partnerships and collaborations between drone manufacturers, analytics providers, and industry stakeholders. Collaborations streamline integration of analytics solutions into drone platforms thereby enhancing overall performance and ease of use. Some market factors result from companies engaging in strategic partnerships to leverage complementary expertise, expand their market reach or offer integrated solutions to serve a wider range of applications. Collaboration is a major driver behind market factors that promote innovation and adapt to the changing needs of industries using drone analytics.”
Drone Analytics Market Highlights:
Global Drone Analytics Market Overview
Drone Analytics Market Size was prized at USD 2.5 billion in 2022. The drone analytics market industry is projected to grow from USD 3.2 Billion in 2023 to USD 14.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 28.30% during the forecast period (2023 - 2030). The rising capital expenditures for creating novel and cutting-edge drone software are the key market drivers enhancing market growth. Businesses invest significantly in drone analytics solutions because they recognize the immense market opportunity.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Drone Analytics Market Trends
- Increase in military spending is driving the market growth
Market CAGR for drone analytics is being driven by growing military spending. Because of rising defense spending ly for the acquisition and modernization of unmanned surveillance and attack type, the drone analytics market is anticipated to experience notable growth during the forecast period. defense spending climbed to $1981 billion in 2020, according to the Stockholm International Peace Research Institute (SIPRI), an independent international organization that researches conflict, weaponry, and disarmament. Increased spending on military aircraft navigation and surveillance research and development is anticipated to enhance the adoption of defense drone-related software and favorably affect the drone analytics market throughout the forecast period.
Drones are becoming more and more likely to be used in various occupations. These winged machines quickly give complete and valuable findings due to their speed and agility. Currently, drones with sensors and cameras are proving their value in gathering real-time video that can be saved for later analysis. Compared to conventional methods, unmanned aerial systems can find malfunctioning structures and equipment faster and more affordably. According to American Society of Civil Engineers, the US alone would need to invest USD 3.6 trillion in infrastructure by 2020 to bring the nation's support systems up to par. These inspection drones are becoming equipped with the necessary technology to carry out certain duties throughout the inspection, thanks to cutting-edge technologies like machine learning and laser. The market for drone makers could expand due to these new capabilities. Thus, driving the drone analytics market revenue.
Drone Analytics Market Segment Insights
Drone Analytics Type Insights
The drone analytics market segmentation, based on type, includes on-demand and on-premise. In 2022, the on-premises market had the biggest revenue share. During the forecast, it is anticipated to continue to dominate. Customers can save data and quickly produce 2D/3D models with on-premise deployment. During the forecast period, the on-demand segment is anticipated to have the highest CAGR. The widespread use of on-demand analytical solutions can be ascribed to benefits like more flexible data access, lower IT costs, and enormous data storage capacity.
Drone Analytics Solution Insights
The drone analytics market segmentation, based on solutions, includes end-to-end solutions and point solutions. The end-to-end solution is anticipated to grow significantly during the forecast due to the division of end-to-end solutions. These comprehensive packaged solutions meet all operational requirements, from data collection to visualization and analysis. Market participants provide processing, analysis, and management capabilities in a single solution in response to their expanding demand.
Drone Analytics Application Insights
The The drone analytics industry, based on application, includes geolocation tagging, thermal detection, aerial monitoring, volumetric calculations, ground exploration, 3D modeling and others. 2022 saw a dominant performance from the thermal detection application. The demand for thermal detection technology is predicted to increase across various industries, including mining, oil & gas, construction, and agriculture. The 3D modeling market is anticipated to have the fastest CAGR during the forecast period. The effective visualization and reconstruction of assets are made possible by 3D modeling. For instance, a wind turbine engineer can envisage the construction of a windmill using 3D modeling technology. The analytics program would process the drone-taken pictures, then convert them into a 3D point cloud and a solid 3D model.
Figure 1: Drone Analytics Market, by Application, 2022 & 2030 (USD billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Drone Analytics Industry Insights
The drone analytics market data, based on industry, includes construction, mining and quarrying, agriculture and forestry, insurance, utility, oil and gas, transportation, telecommunications, scientific research and others. In 2022, the utility segment held the biggest market share. To enable preventative and proactive measures, the power and utilities sector needs a combination of quick response and timely inspection. The construction and infrastructure segment is projected to grow at the fastest CAGR. End-users can quickly judge unforeseen problems and correct the situation based on the data acquired, thanks to drones' capacity to digitally document and monitor construction sites.
For Instance May 2021 HCSS, a software supplier that assists heavy civil construction companies in streamlining their operations, has released a new edition of HCSS Aerial, a drone-based data analytics platform. This is the sixth software release since the product's launch in March 2020, incorporating direct consumer input.
Drone Analytics Regional Insights
By Region, the report provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American drone analytics market area will dominate this market. The US Department of Defense's (DoD) increasing investments in developing and utilizing counter-drone technology are partially to blame for this. For instance, the US DoD anticipates spending through FY 2022 at least USD 636 million on the R&D and purchase of C-UAV systems.
Further, the major countries studied in the market report are U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: DRONE ANALYTICS MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s drone analytics market accounts for the second-largest market share due to the terrorists' growing use of drones for attacks in Europe. The growth in airborne threats and the associated rise in defense spending by European countries to safeguard military assets are the main drivers of the market expansion. In addition to an additional USD 50 billion and USD 51.3 billion in 2021 and 2022, Russia planned to spend USD 47.55 billion and USD 51.3 billion on defense in 2020. Further, the German drone analytics market held the largest market share, and the UK drone analytics market was the fastest-growing market in the European region.
The Asia-Pacific Drone Analytics Market is expected to grow at the fastest CAGR from 2023 to 2030. The Asia-Pacific region's main nations' increasing military spending on defensive drones for their armed forces is anticipated to support the market's expansion. China ($252 billion), India ($72.9 billion), Japan ($49.1 billion), South Korea ($45.7 billion), and Australia ($27.5 billion), according to the "Stockholm International Peace Research Institute (SIPRI)," an independent international organization for research into conflict, armaments, and disarmament, increased their military spending in 2020. Moreover, China’s drone analytics market held the largest market share, and the Indian drone analytics market was the fastest-growing market in the Asia-Pacific region.
Drone Analytics Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the drone analytics market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the drone analytics industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the drone analytics industry to benefit clients and increase the market sector. In recent years, the drone analytics industry has offered some of the most significant medical advantages. Major players in the drone analytics market, including Sentera inc in the US, DJI in china, Delta drone in France, Airware in the US., and others, are attempting to increase market demand by investing in research and development operations.
Percepto is a technology company that creates cutting-edge robotics and software to supplement competent human labor. Percepto's comprehensive solution provides fully automated inspections and continuous monitoring of industrial facilities worldwide. All of this is made possible by a visionary team in the United States, Australia, and Israel dedicated to pushing the boundaries of industrial automation. In January 2022, Percepto, a business that provides autonomous inspection solutions employing industrial robotics, said that the Federal Aviation Administration (FAA) has cleared Beyond Visual Line of Sight (BVLOS) operations for Delek US Holdings' refineries in Texas and Arkansas. Following approval, Percepto drones surveyed the facilities and supplied the customer with visual data management and analysis.
AgEagle Aerial Systems, Inc. is a commercial agricultural drone firm. AgEagle was founded in 2010 with the intention of pioneering proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collecting and analytics solutions for the agriculture business. The company creates, develops, sells, and services technologically innovative miniature unmanned aerial vehicles and drones for the precision agriculture market. AgEagle Aerial Systems supports the Agriculture Analytics industry all over the world. In May 2022, AgEagle Aerial Systems Inc announced new and upgraded technology features and capabilities for Measure Ground Control, which will allow business customers and professional drone service providers across a wide range of sectors to gain more value from autonomous drone operations.
Key Companies in the drone analytics market include
- Airware in the US
- Aerovironment Inc in the US
- Eagle aerial system inc in the US
- Dronedeploy in the US
- Delta drone in France
- Esri in the US
- PrecisionHawk inc in the US
- Viatechnik LLC in the US
- Pix 4D SA in France
- Kespry in the US
- Options in the US
- HUVRdata in the US
- DJI in china
- 3D robotics in the US
- Sentera inc in the US
Drone AnalyticsIndustry Developments
For Instance June 2022 AeroVironment, Inc., a leader in intelligent, multi-domain robotic systems, said today that it had been awarded a $6,166,952 firm-fixed-price contract for PumaTM 3 AE small unmanned aircraft systems (SUAS) and spares for the United States Marine Corps on May 3, 2022. The delivery is expected to be finished in July 2022.
For Instance August 2021 The Indian state of Tamilnadu revealed plans to use drones to combat illegal mineral mining by surveying and monitoring approximately 1,700 quarries. The drone survey project is expected to cost USD 3.3 million (INR 25 crore) annually. This allows the number of minerals mined to be calculated and compared to the seigniorage charge collected and transit licenses to be issued.
Drone Analytics Market Segmentation
Drone Analytics Type Outlook
- On-demand
- On-premise
Drone Analytics Solution Outlook
- End-to-end solutions
- Point solutions
Drone Analytics Application Outlook
- Geolocation tagging
- Thermal detection
- Aerial monitoring
- Volumetric calculation
- Ground exploration
- 3D modeling
- Others
Drone Analytics Industry Outlook
- Construction
- Mining & quarrying
- Agriculture and forestry
- Insurance
- Utility
- Oil & gas
- Transportation
- Telecommunications
- Scientific research
- Others
Drone AnalyticsRegional Outlook
-
North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World- Middle East
- Africa
- Latin America
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