Drone analytics market expected to grow by 2028 due to rising defense expenditure by major countries. On-premises sub-segment is predicted to be the most dominant. Market in the North America region is expected to witness more growth opportunities.
NEW YORK, May 27, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled, “Drone Analytics Market by Type (On-premises and On-demand), Application (Inspection, Mapping, Surveying, and Others), End-use (Defense, Commercial, and Consumer), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028″.
According to the report, the global drone analytics market is expected to garner a revenue of $7,381.9 million by 2028, growing at a CAGR of 17.1% during the forecast period 2021-2028.
Dynamics of the Drone Analytics Market:
Drivers: Rise in the defense expenditure by some major countries is the main factor expected to drive the global drone analytics market by 2028. In addition, increasing requirement for performing activities like research and analysis of the data captured by drones incorporated in the armed forces is anticipated to further boost the market growth during the forecast period.
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Opportunities: Growing adoption of technologies like artificial intelligence in the drone industry is the main factor expected to offer abundant growth opportunities for the global drone analysis market during the forecast years.
Restraints: High production and operating costs of drones is the main factor predicted to hamper the market growth during the analysis timeframe.
Covid-19 Impact on the Drone Analytics Market:
The outbreak of the Covid-19 pandemic has negatively affected almost every business and industry; however, the drone analytics market has had a moderate impact. In response to public health crisis, several governments started focusing on surveillance and counter-terrorism activities. In addition, travel bans, mobility restrictions, and stringent lockdowns led to disruptions in the supply chain of essential equipment used in defense drones like radars, acoustic sensors, type C4ISR, photoelectric/infrared, in-vehicle navigation, sensor positioning, etc. These factors hindered the growth of the global market during the pandemic. However, social distancing norms imposed by governments led to a surge in the demand for automated services that included drone deliveries of medical items, food packages, etc. are projected to boost the market growth during the analysis period.
Post COVID-19 has Positive Impact on Drone Analytics Market. Get in touch with our Expert Analyst to get more Insights@ https://www.researchdive.com/connect-to-analyst/8535
Segments of the Drone Analytics Market:
The report has fragmented the drone analytics market into several segments based on type, application, end-use, and regional analysis.
- By type, the on-premises sub-segment is estimated to hold a dominating market share and gather a revenue of $4,199.1 million by 2028. Sectors like space research, medical facilities, military, and government organizations demand for complete confidentiality of information. This leads to a surge in the on-premises data analysis and storage due to benefits like visibility and security of data, ease of accessibility, and others. These factors are predicted to propel the growth of the drone analysis market’s sub-segment growth by 2028.
- By application, the inspection sub-segment is anticipated to have a significant market share and garner a revenue of $2,624.6 million by 2028. Rising utilization of commercial drones in activities like power generation, manufacturing units, oil and gas exploration, and mining is expected to accelerate the sub-segment’s growth during the forecast years.
- By end-use, the defense sub-segment is estimated to gather a revenue of $5,042.9 million by 2028 and hold a major market share due to rising usage of defense drones for intelligence gathering of possible attacks, threats monitoring, and video surveillance are the factors projected to bolster the growth of the drone analytics market’s sub-segment growth during the analysis timeframe.
- By regional analysis, the global drone analytics market in the North America region is predicted to surpass $2,588.8 million by 2028 due to high defense expenditure in the military aviation sector and growing emphasis of research on the drone analytics in the defense arena. In addition, the presence of some prominent drone development organizations is also estimated to accelerate the market growth in the North America region.
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Major Drone Analytics Market key Players:
Some major drone analytics market players are
1. VIATechnik LLC
2. Delta Drone
3. AeroVironment, Inc.
4. Pix4D SA
5. Esri
6. BAE Systems
7. PrecisionHawk, Inc.
8. DroneDeploy
9. Optelos LLC
10. Kespry Inc., among others.
These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth. – Inquire here to get an Access for the Key business players strategic Development Report
For example, in January 2022, AI Clearing, a business intelligence (BI) solutions provider that utilizes drones to track down construction progress, announced its launch of trained artificial intelligence models to identify prime elements installed during solar farm construction. This development has enabled the company to churn out BI reports every 24 hours to deliver constant progress monitoring.
The report also sums up various crucial facets including financial performance of the drone analytics market players, SWOT analysis, product portfolio, and the latest strategic developments.
Frequently Asked Questions about Drone Analytics Market
Q1. What is drone analytics?
Q2. How can we stop drones?
Q3. How much is the drone analytics market worth?
Q4. What weapons do drones carry?
More about Drone Analytics Market:
- Acquisitions Like That of Arvista by Delta Drone to Augment the Growth of the Global Drone Analytics Market
- Drone and Drone Analytics: The Digital Surveyor
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