The global drone analytics software market size is expected to showcase considerable growth in the forthcoming years. This information is published by Fortune business insights in its report, titled “Drone Analytics Software Market, 2022-2029“. The integration of drone technology in various sectors such as mining, insurance, agriculture, and others is developing problem-solving culture. Moreover, the use of advanced technology such as artificial intelligence and machine learning is enabling the extraction of complex aerial information. Penetration into 2D and 3D visualization data extraction using data captured by drones is expected to boost market demand.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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On the basis of application, the market for drone analytics software is segmented into thermal detection, geo-location tagging, aerial monitoring, ground exploration, volumetric calculation, 3D modeling, and others. Based on type, the market is bifurcated into on-premise and on-demand. Additionally, by solution, the market is classified into end-to-end solution and point solution. Based on geography, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.
Growing Adoption of Drone Technology in Shipping Industry to Boost Demand
The increasing adoption of drones in the industrialization process is projected to boost product demand. Drones are actively being used in the shipping and freight industry for surveillance purposes. The drones are programmed to analyze data using their software and complete various tasks such as locating, surveillance, operation management, and others. For instance, in May 2021, DSV Panalpina and Verity collaborated on an autonomous drone system to manage inventory at their several warehouses. The drones operate at night and scan barcodes without any human interaction to detect vacancy in storage, cycle counting, and inventory management.
Moreover, various countries have started allowing drone technology for delivery purposes. It is expected that drones shall replace delivery personnel and save companies a lot of money on operations. UPS flight forward is one of the first drone delivery companies that received full part 135 certification from the federal aviation administration of the USA to deliver goods. Such new avenues are being explored and ensure drone analytics software market growth.
Presence of Prominent Manufacturers in North America to Aid Growth
North America is projected to hold considerable drone analytics software market share in the forecast period with the presence of prominent manufacturers in the region. Companies such as the Drone Deploy are supporting the regional growth off the market. Even utilization in the military is expected to garner demand.
Asia Pacific is anticipated to showcase substantial growth with several companies trying to provide solutions in analytics. Also, the presence of a highly skilled IT sector in the region promotes product demand.
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Extensive R&D by Prominent Players to Amplify Market Position
The competitive landscape has few but strong prominent players. This is a research-intensive industry that requires heavy investment for growth. The constantly advancing technology in this sector changes market dynamics. Partnerships and collaborations by prominent players are projected to boost the market growth. The rising demand from the government and military is expected to allow more companies to enter the drone analytics software industry.
- May 2021: Skycatch is a startup that focuses on unmanned aerial vehicles. It is the first company to deliver an end-to-end RTK enabled drone-based server system for various sites in the form of a kit. The kids are focused on the data Analytics package for construction, Skycatch vision engine for 3D data processing, and high precision package for mining.
List of Key Players Profiled in the Market:
- Kespry Inc. (U.S.)
- Neurala Inc., (U.S.)
- DroneSense Inc., (U.S.)
- DreamHammer Inc., (U.S.)
- PrecisionHawk (U.S.)
- DroneDeploy (U.S.)
- Pix4D (Switzerland)
- 3D Robotics (U.S.)
- Parrot Drones (France)
- Drone Volt (France)
- Airware Inc., (U.S.)
- SenseFLY (Switzerland)
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