Stratview Research announces the launch of a new research report on the Drone Analytics Market by Industry Type (Agriculture & Forestry, Construction, Insurance, Mining & Quarrying, Utility, Telecommunication, Oil & Gas, Transportation, Scientific Research, and Others), by Application Type (Thermal Detection, Geolocation Tagging, Aerial Monitoring, Ground Exploration, Volumetric Calculations, 3D Modeling, and Others), by Type (On-Premises, On-Demand), by Solution Type (End-To-End Solutions, Point Solutions), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Highlights from the Report
The drone analytics market was estimated at USD 2.08 billion in 2022 and is likely to grow at a CAGR of 25.32% during 2022-2028 to reach USD 8.06 billion in 2028.
Drone analytics is a method in which drones are used to view and then analyze the data that has been aerially collected by the drone. The data collected are mainly in 2D or 3D views and have options such as digital models and slope maps.
Drone analytics has a wide range of applications today such as in thermal detection, geolocation tagging, aerial monitoring, ground exploration, volumetric calculations, 3D modeling, and others. Agriculture & Forestry, construction, insurance, mining & quarrying, utility, telecommunication, oil & gas, transportation, scientific research, and others are the industries where drone analytics are now used.
COVID-19 Impact.
The global pandemic shook the whole world, and the tremors were felt across industries. Covid-19 significantly impacted the Drone analytics market in the year 2020, largely due to the implementation of strict lockdowns and restrictions worldwide. Other major reasons leading to the decline were supply chain disruption, logistics challenges, etc.
The report comprises analytical representation of the Drone Analytics Market size along with current trends, challenges, and future estimations to depict imminent investment pockets. To understand the profitable trends and gain a stronger foothold, the report also helps the users with key information related to growth drivers, restraints, and opportunities in the market. The current Drone Analytics Market forecast is quantitatively analyzed from a particular time period of 5 years to benchmark the financial competency. The user will also get a detailed info about the market trends and share of key vendors.
Market Dynamics
The escalating demand for revolutionary industry-specific investigative solutions that can aid companies to attain actionable insights from the data captured by drones is estimated to drive the global market.
This report provides critical insights on the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
· Market structure: Overview, industry life cycle analysis, supply chain analysis.
· Market environment analysis: Growth drivers and constraints
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Key success factors
This report studies the Drone Analytics Market and has segmented the market in few ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the ways in which the market is segmented.
By Industry Type
Based on the industry type, the market is segmented as agriculture & forestry, construction, insurance, mining & quarrying, utility, telecommunication, oil & gas, transportation, scientific research, and others. The construction segment is estimated to witness the highest growth in the coming five years. This growth is owing to the acceptance of analytic solutions for monitoring and progress following at various construction sites. The obtainability of tailor-made solutions is also one of the prime factors influencing the growth in the application of drone analytic solutions in the construction industry during the forecast period.
By Type
Based on the type, the market is segmented as on-premises and on-demand. The on-demand segment is expected to register a higher growth rate than the on-premises segment, due to the growing demand for cloud-based drone analytic solutions from industries, such as construction, mining, and agriculture.
By Solution Type
Based on the solution type, the market is segmented as end-to-end solutions and point solutions. The end-to-end solutions segment is estimated to register higher growth than the point solutions segment, owing to the rising claim for complete packaged solutions, starting from data collection to data analysis.
Regional Analysis
In terms of regions, the North American region was the largest market for drone analytics in 2021 and is expected to maintain its dominance during the forecast period. Drivers such as increasing funding for drone analytics and the growing demand for analytical solutions, majorly from the commercial sector, are boosting the drone analytics market in the region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Following are the key players in the Drone Analytics Market:
- Airware
- Agribotix
- AeroVironment, Inc.
- Dronedeploy
- Delta Drone
- ESRI
- Huvrdata
- Kespry Inc.
- Optelos
About Stratview Research-
Stratview Research is a global market intelligence firm having a strong experienced team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. The services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.
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