What are the most recent trends in Drone Analytics Market?

The global drone analytics market forecast to be valued at $7,381.9 million by 2028, surging from $2,112.0 million in 2020, at a noteworthy CAGR of 17.1%.

Analysis of Covid-19 Impact on Drone Analytics Market

The Covid-19 impact on drone analytics market demand has been moderate. The restrain in the global industrial production due to imposed lockdowns across the globe has disturbed supply chain defense equipment manufacturing industry hindering the growth of drone analytics market. Major companies in this sector such as Northrop Grumman Corporation, Lockheed Martin Corporation, and others have experienced a reduction in demand in the drone analytics market. These factors are expected to negatively impact the market growth.

The coronavirus epidemic has enforced the companies in the drone analytics industry for the adoption of new methods of operation such as implementation of predictive analytics to forecast losses accurately and virtual monitoring of the production. These developments are anticipated to aid in mitigating the impact of COVID-19 pandemic the segment of the global drone analytics market growth.

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Global Drone Analytics Market Analysis

Unmanned aerial vehicles (UAVs), or drones, are aircrafts that can be remotely controlled by pilots or via pre-programmed planning and automation systems and can fly autonomously. Various industries and organizations, including military, government, commercial, and entertainment users, are using this technology. Drones have become an economically viable option for a wide range of commercial functions over the years. Commercial drones are currently having a major impact on applications that take advantage of the ability to collect localized visual information quickly and inexpensively. Some of these areas are agriculture, construction, infrastructure, and inventory management. With the help of drone analysis, farmers can benefit from real-time information about vast lands. The commercial utilization of drones for intelligence, surveillance, reconnaissance, and combat operations can reduce the loss of human lives in armed forces which is anticipated to aid the growth of the market.

Drone analytics trends such as new innovations in the field of defense avionics software are expected to expand the drone analytics market size. For instance, in November 2021, Israel-based autonomous inspection with industrial robotics company, Percepto, announced the launch of its upgraded 2022 Autonomous Inspection & Monitoring (AIM) platform and its new Air Mobile drone.

Global Drone Analytics Market, Segmentation

The global drone analytics market is segmented based on type, application, end-use, and region.

By Type:

The type segment is further classified into on-premises and on-demand. Among these, the on-premises sub-segment is expected to be the most dominating and surpass $4,199.1 million by 2028, with an increase from $ 1,271.1 million in 2020.

Application:

Based on application, the market has been divided into inspection, mapping, surveying, and others. Among these, inspection sub-segment is anticipated to dominate in the forecast period and surpass $777.3 million by 2028, with an increase from $2,624.6 million in 2020.

End-use:

Based on end-use, the market has been sub-segmented into defense, commercial, and consumer sub-segment. The commercial sub-segment is projected to be the fastest growing in the global market and register a revenue of $1,330.6 million during the forecast timeframe of 2021-2028.

Region:

The drone analytics market for the North America region generated a revenue of $757.6 million in 2020 and is further projected to reach up to $2,588.8 million by 2028. The North America region is expected to be the dominating region for the drone analytics market in the forecast period.

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Key Players in the Global Drone Analytics Market

Some of the leading global drone analytics market players are

BAE Systems
Delta Drone
AeroVironment, Inc.
DroneDeploy
Esri
PrecisionHawk, Inc.
VIATechnik LLC
Pix4D SA
Kespry Inc.
Optelos LLC.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

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