Drone Software Industry Soars to $21.93 Billion by 2031 with 14.5% Annual Growth

According to a new report published by Allied Market Research, titled, " The drone software market was valued at $5.96 billion in 2021, and is estimated to reach $21.93 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031. The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future.

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Drones are utilized in the transportation of goods and passengers globally depending on the requirement of various industries, such as tourism, logistics, and defense industries. They form a part of the investment of an organization owing to huge maintenance costs and operating costs apart from the immense procurement costs associated with an unmanned aerial vehicle (UAV). In addition, rise in the defense budget has enabled governments of various countries to enter into agreements with drone & component manufacturers such as DJI and Precision Technologies Ltd. to offer better and advanced products, which supplements the growth of the drone software market across the globe.

In recent years, the demand for entire drone packages has risen steeply. The amount of data collected by drones has expanded dramatically in recent years, owing to high-resolution cameras being used for image mapping, video capture, and equipment tracking. Drone data, on the other hand, is frequently unstructured. As a result, drone analytics is crucial in converting unstructured data to structured data for better analysis.

The drone software market is segmented basis of solution, application, architecture, deployment, and region. By solution, it is divided into system and application. By end use, it is divided into defense & government, agriculture, energy & power, construction & mining, media & entertainment, Logistics & Transportation, others. By architecture, it is segmented into open source and closed source. By deployment, it is divided into onboard drones, and ground-based. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Based on solution, the applications segment held the largest market share in 2021, garnering more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The system segment, on the other hand, is expected to cite the fastest CAGR of 17.6% during the forecast period.

Based on application, the defense and government segment held the dominating market share in 2021, holding around one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 16.1% during the forecast period. The report also analyses other segments such as agriculture, energy and power, construction and mining, media and entertainment, logistics and transportation.

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Based on architecture, the open-source segment held the largest market share in 2021, holding more than half of the global market. The closed source segment, on the other hand, is expected to cite the fastest CAGR of 15.2% during the forecast period, and is expected to maintain its leadership status during the forecast period.

Based on deployment, the onboard drones segment held the largest market share in 2021, garnering more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The ground-based segment, on the other hand, is expected to cite the fastest CAGR of 15.8% during the forecast period.

Based on region, the market across Asia-Pacific held the lion's share in 2021, holding around one-third of the global market, and is expected to maintain its leadership status during the forecast period. The Europe region, on the other hand, is expected to cite the fastest CAGR of 16.0% during the forecast period. The report also analyses other regions such as North America and LAMEA.

The key players analyzed in the global drone software market report include MEASURE, Pix4D SA, PrecisionHawk, Inc., SENSEFLY, SHARPER SHAPE, SKYCATCH INC, Skydio, Sky-Future, AirMap Inc, Delair, DJI Technology, DroneBase, DroneDeploy, ESRI, Kespry Inc., Skyward IO (Verizon Company), Yuneec, and others.

Key Benefits For Stakeholders:

➢ This report provides a quantitative analysis of the drone software market segments, current trends, estimations, and dynamics of the drone software market analysis from 2021 to 2031 to identify the prevailing drone software market opportunities.
➢ The drone software market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the drone software market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global drone software market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the drone software marketplayers.
➢ The report includes the analysis of the regional as well as global drone software market trends, key players, market segments, application areas, and market growth strategies.

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