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Drone Analytics Market to Touch USD 28.57 billion by 2030, Recording a CAGR of 29.2%
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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. led the global drone analytics market share in North America in 2020, owing to increase in R&D activities; technological developments by big players; and rapid adoption of innovative technologies in making reliable, precise, and efficient drone analytics systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of drone analytics across different industries across major economies such as China and India.
By type, the market is categorized into on-premises and on-demand. The on-demand segment accounted for the highest revenue in 2020, as it allows organizations to gain the benefits of analytics without having to expend resources, making it accessible to more companies than before.
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On the basis of application, the drone analytics market is divided into ground exploration, geolocation tagging, aerial monitoring, thermal detection, and others. The ground exploration segment garnered the highest revenue in 2020, owing to rapid surge in demand for drone analytics for ground exploration applications across the world.
COVID-19 Impact Analysis
The COVID-19 impact on the drone analytics market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2020. This led to sudden fall in the availability of important raw materials.
Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
Key Findings Of The Study
By type, the on-demand segment is expected to register significant growth during the forecast period.
Depending on application, the geolocation tagging segment is anticipated to exhibit significant growth in future.
On the basis of end use, the construction segment is projected to lead the global drone analytics market, owing to higher CAGR.
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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Market Key Players
The key players operating in the global drone analytics market include 3DR, AeroVironment, Inc., Delair, Delta Drone SA, DroneDeploy, Huvrdata, Kespry Inc., Optelos LLC, Pix4D SA, and PrecisionHawk.
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