Global Drone Analytics Market Will Surpass USD 30.5 Billion by 2031
The global drone analytics market is anticipated to increase to USD 30.5 billion by 2031 from USD 2.4 billion in 2021, with a CAGR forecast of 29.0%. Remote sensing technology is evolving with the advent of drones. Drones are aerial vehicles that can collect data from inaccessible areas. The use of drones for data collection is known as drone analytics. Drone analytics has the potential to revolutionize many industries. The market for drone analytics is expected to grow rapidly in the next few years.
Browse ThinkWise Intelligence's exclusive report, spread through 186 Pages on "GLOBAL DRONE ANALYTICS MARKET, BY TYPE (ON-DEMAND AND ON-PREMISES), BY APPLICATION (GEOLOCATION TAGGING, GROUND EXPLORATION, THERMAL DETECTION, AERIAL MONITORING, AND OTHERS), BY END-USE (MINING AND QUARRYING, AGRICULTURE AND FORESTRY, OIL AND GAS, CONSTRUCTION, AND OTHERS) – COMPETITIVE LANDSCAPE & GROWTH POTENTIAL ANALYSIS, 2021-2031".
THE ON-DEMAND MARKET IS PREDICTED TO GROW AT THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD
During the projected period, on-demand drone analytics services are expected to increase rapidly. The rising demand for drones in commercial applications and the expanding usage of drones for precision agriculture are driving the growth of the on-demand drone analytics market. Drone analytics solutions on demand provide real-time data processing and analysis, allowing end-users to make quick decisions. Customers can get on-demand drone analytics services from major vendors in the field. For example, Airware announced the debut of its new product offering, Airware Enterprise On-Demand, in January 2017.
THE DRONE ANALYTICS MARKET FOR GEOLOCATION APPLICATION PROJECTED TO BE THE FASTEST-GROWING SUBSEGMENT IN THE GLOBAL DRONE ANALYTICS MARKET
Drone analytics can be used for a variety of purposes. Geolocation tagging is one such application. Geolocation tagging is tagging aerial drone footage with GPS coordinates to track the movement of objects in real-time. Due to the strong demand, geolocation tagging is also employed for numerous commercial applications, such as surveying, mapping, and land management. These can also be used to track the progress of construction projects or for security concerns. Ground exploration is another use for drone analytics. Ground exploration employs aerial drones to map out a difficult or unsafe to reach the location on the ground.
NORTH AMERICA DRONE ANALYTICS MARKET IS ANTICIPATED TO HOLD THE LARGEST SHARE IN THE GLOBAL MARKET DURING THE FORECAST PERIOD
During the forecasted timeframe, North America is predicted to have the biggest market share in the global drone analytics market.. The increased use of drones by numerous end-user industries and the growing demand for real-time information in various business processes in this region have fueled this advancement. The Asia Pacific area is expected to grow at the quickest CAGR during the forecasted timeframe. Drone use for commercial applications such as shipping and delivery, agriculture, and media and entertainment is driving the expansion. Additionally, increased consumer and commercial awareness of drone-based solutions helps the market's growth in this area.
AeroVironment, Inc., Delair, DroneDeploy, 3DR, Delta Drone SA, Kespry Inc., Huvrdata, Pix4D SA, Optelos LLC and PrecisionHawk are just a few of the market's major players.