Drone Software Market , Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
Moreover, increasing investments in R&D for the development of technologically advanced drone software and increasing the use of IoT applications in drone are factors expected to boost the growth of the global drone software market. Rising security issues owing to the possibility of hacking is a factor that may hamper the growth of the global drone software market. Nevertheless, increasing the adoption of autonomous drones and the introduction of drones with enhanced functionality can create good market opportunities for players operating in the target market.
The drone Software industry was 418 million USD in 2018 and is projected to reach 5,385.16 million USD by 2025, at a CAGR of 38.89% between 2018 and 2025.
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Basing on the architecture of software, the open-source segment is expected to register lucrative growth in terms of revenue. The surge in demand for open source software as consumers require customized software for various applications is a factor supporting growth of this segment worldwide. On the basis of application, the analytics segment is expected to register high growth in terms of revenue, this would increase demand for drone analytics especially in the industrial sector for decision making.
The market in North America expected to account for major share in terms of revenue. The presence of prominent software in developing companies is a vital factor driving the growth of this target market in this region. Asia Pacific market is anticipated to witness the fastest growth in terms of revenue during 2018-2025, owing to increasing demand for drones, especially for commercial applications. In addition, increasing investments for new software development is another factor expected to stimulate the growth of the drones software market in the Asia Pacific.
Core competitors for the drone software market are 3D Robotics, Inc. (3DR), Airware, Dreamhammer Products LLC, Drone Volt, DroneDeploy, Inc., Esri Pix4D S.A, Precisionhawk Inc., senseFly SA, and Skyward IO, Inc. among others
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