The global drone analytics market is projected to generate $45,575.9 million revenue in 2030, advancing at a CAGR of 32.1% during 2020 and 2030. The major factors contributing to the market growth include the increasing demand for drones, growing worldwide information technology (IT) spending, surging preference for flight intelligence, rising number of advancements in the drone technology, and growing need for gathering real-time insights into a particular area or building.
The COVID-19 pandemic is having a widespread, rapidly evolving, and unpredictable impact on the global society, economies, financial markets, and business practices. Due to the lack of cashflow, companies have been investing little in research and development (R&D). Essentially, the nationwide lockdown in many countries, which resulted in border closures, affected the supply of raw materials, thereby impacting the market severely. However, industry executives and regulators are now looking for effective methods and policies to redesign production patterns and boost customer spending.
The market for drone analytics has been categorized into hardware, software, and service, on the basis of component. Among these, the hardware category held the largest share in the market in 2020. This was mainly due to the escalating adoption of drones in several industries, rising demand for enhanced monitoring services, and increasing requirement for real-time insights for data-driven decision making.
The market is bifurcated into end-to-end and point, based on solution. Of the two, the end-to-end category held the larger share in the market in 2020, and it is also expected to register the faster growth during the forecast period (2021–2030). This will majorly be due to the increasing demand for complete packaged solutions that cater to all the business processes, from data collection to data visualization.
The drone analytics market has been bifurcated into cloud and on-premises, based on deployment. In 2020, the cloud category had the greater share of the market. Moreover, during the forecast period, this category is expected to grow at the higher rate. This will primarily be due to the growing adoption of the cloud computing technology among businesses as it offers a high data storage capacity, data access flexibility, and lower IT costs.
Geographically, the Asia-Pacific (APAC) region is expected to witness the fastest growth during the forecast period. The market in the region is primarily driven by the rising number of drone start-up companies, growing emphasis on the utilization of drones for agricultural purposes, supportive government policies to encourage the non-military usage of such platforms, and increasing growth opportunities in countries such as China, Japan, India, Singapore, Malaysia, and Australia
Players in the drone analytics market are involving themselves in partnerships and client wins in order to hold a significant position.
For instance, in July 2021, Delta Drone SA and Airobotics Ltd. announced a commercial partnership to distribute their solutions globally. Airobotics Ltd. is focusing its business development efforts on North America and Southeast Asia. In these territories, it will also be the distributor of the products and solutions developed by Delta Drone SA. On the other hand, Delta Drone SA is focusing its commercial development on Europe and Africa, where it will also be the distributor of the products and solutions developed by Airobotics Ltd.
In July 2021, AeroVironment Inc. announced the receipt of two firm fixed-price orders totaling $15,940,378 from the U.S. Air Force (USAF). The order includes the purchase of Puma 3 AE unmanned aircraft systems (UAS) and spares, as well as Raven UAS spares.
The major players operating in the market include Pix4D SA, DroneDeploy Inc., Delta Drone SA, Delair SAS, Aerovironment Inc., Terra Drone Corporation, Environmental Systems Research Institute Inc., VIATechnik LLC, Kespry Inc., and PrecisionHawk Inc.