Drone Analytics Industry Overview
The global drone analytics market size is anticipated to reach USD 35.73 billion by 2028, registering a CAGR of 22.8% from 2021 to 2028, according to a new study by Grand View Research, Inc. The rising demand for intelligent photogrammetry software solutions across various industries is anticipated to offer immense growth opportunities for market participants. To monetize the promising growth opportunities, leading players are focusing on integrating advanced technologies in their offerings for enhanced performance.
Drone Analytics Market Segmentation
Grand View Research has segmented the global drone analytics market based on end use, application, deployment, and region:
Based on the End-use Insights, the market is segmented into Power Utility, Construction Infrastructure, Oil Gas, Agriculture, Transportation Logistics, Others.
- The power and utility segment accounted for the largest share of approximately 29.0% in 2020 and is expected to continue to dominate the market over the forecast period. The power and utility sector needs a combination of swift response and timely inspection to enable preventive and proactive measures.
- Drones are proficient in assisting this sector to inspect and gather an extensive amount of data on critical structures in a limited period and a cost-effective manner. Furthermore, using drone analytics solutions, the collected data is visualized, analyzed, and shared insightfully with the end-users.
- The construction and infrastructure segment is anticipated to register a nearly 25.0% CAGR from 2021 to 2028. The ability of drones to digitally document and monitor construction sites allows end-users to take instant decisions about unpredicted issues and rectify the situation based on the data gathered.
Based on the Application Insights, the market is segmented into Thermal Detection, Aerial Monitoring, Ground Exploration, 3d Modelling, Others.
- The thermal detection application dominated in 2020 and accounted for over 29.0% of the revenue share. An upsurge in the demand for thermal detection technology across numerous industries, including agriculture, oil and gas, construction and mining is expected to drive the segment.
- Thermal detection is essential to identify gas leakages on towers or platforms and mitigate potentially dangerous scenarios and exposure to emissions for workers, which could result in the overall shutdown of the facility.
- The 3D modeling segment is expected to register the highest CAGR of 25.0% from 2021 to 2028. 3D modeling allows for the efficient visualization and reconstruction of assets. For instance, a wind turbine engineer can use 3D modeling technology to visualize the construction of a windmill.
- The images captured by drones would be processed by the analytics software, further transforming into a 3D point cloud, and thereafter into a solid 3D model. These models can be beneficial in performing virtual tours of assets or for preparing for maintenance visits.
Based on the Deployment Insights, the market is segmented into On-Premise, On-Demand.
- The on-premise segment captured the highest revenue share of over 68.0% in 2020. It is expected to retain its dominance over the forecast period. On-premise deployment enables the customer to store data and quickly generate 2D/3D models.
- The on-demand segment is expected to register the highest CAGR of more than 24.0% from 2021 to 2028. The significant adoption of on-demand analytical solutions can be attributed to advantages such as high flexibility to access data, reduction in IT expenses, and huge capacity to store data.
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Drone Analytics Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The market is highly fragmented and features the presence of several local and international players. Key market participants are focusing on improving their solution offerings based on cost differentiation and enhanced technical features.
Some prominent players in the global drone analytics market include
- Airware
- DroneDeploy
- Delta Drone
- PrecisionHawk
- AeroVironment
Order a free sample PDF of the Drone Analytics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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