Drone Analytics Market Size, Trends, Company Profiles, Growth Rate, Trends and its Emerging Opportunities

The surging adoption of unmanned aerial vehicles (UAVs) for tracking movement of individuals, mounting demand for drones or UAVs in the defense and security sector, and burgeoning requirement for drone analytics solutions for several commercial purposes will drive the drone analytics market at a CAGR of 29.8% during the forecast period (2020–2030). According to P&S intelligence, the market generated a revenue of $2,614.3 million in 2019. Moreover, the growing preference for intelligent photogeometry software will create lucrative opportunities for market players in the foreseeable future.

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The surging demand for UAVs from the defense and security sector is one of the key drivers for the drone analytics market. The homeland and military departments of several countries use drones to strengthen security within their boundaries and at the borders of the countries by tracking suspicious movements. The military tracks undesired movements to strengthen the surveillance at weak intrusion points. Moreover, the soaring defense budget of the U.S., Saudi Arabia, China, and the Russia will boost the deployment of UAVs and related analytics solutions in the forecast years.

In addition, the trend of growing preference for beyond-visual-line-of-sight (BVLOS) capabilities in the UAVs is also supporting the drone analytics market growth, globally. These drones enable users to carry out intricate operations without manual involvement, as these can operate beyond the range of human eye. This airborne platform offers advantages such as reduced technology costs, long-range inspection services, and high-quality data recording. To meet the booming demand for BVLOS operations, vendors of UAV software are swiftly modifying their solutions.

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Globally, the North American drone analytics market generated the highest revenue in 2019, due to the integration of computer vision, machine learning (ML), and artificial intelligence (AI) technologies in drone software and the vast demand for better inspection and surveillance through drone. Besides, the soaring need for such solutions in the domains of agriculture, oil and gas, and energy and utilities to take quick action against trespassers has supported the market growth in the region.

Thus, the rising need for drones or UAVs from the military and homeland departments along with the increasing allowance from governments to use drones for entertainment purposes will fuel the market growth in the foreseeable future.

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