A recent report has found that the drone analytics market is projected to grow from US$1.57 billion in 2017 to US$5.41 billion by 2022, at a CAGR of 28.11% from 2017 to 2022. Drone analytics can be defined as the process of analysing data received from different types of drones to find meaningful patterns, which can guide business decisions.
The increasing demand for sophisticated industry-specific analytical solutions that can help obtain actionable insights from the data captured by drones is expected to fuel the drone analytics market. However, the affordability of drone data collection and cybersecurity concerns may act as a challenge for the market growth.
Based on application, the thermal detection segment is estimated to lead the drone analytics market in 2017. This can be attributed to the increasing demand for analytical solutions for thermal detection from industries, such as oil and gas, construction, agriculture, mining and quarrying.
Based on type, the on-demand segment is estimated to lead the drone analytics market in 2017. The increasing demand from various industries, such as agriculture, construction, and mining for cloud-based drone analytics solutions is driving the on-demand segment.
The North America region is estimated to lead the drone analytics market in 2017. Countries in this region include the US and Canada.
Key players in the drone analytics market include BAE Systems (UK), Harris (US), Raytheon (US), Northrop Grumman (Germany), Lockheed Martin (US), and Boeing (US).
Research coverage The study segments the drone analytics market based on application (thermal detection, geolocation tagging, aerial monitoring, ground exploration, volumetric calculations, 3D modelling, and others), industry (agriculture and forestry, construction, insurance, mining and quarrying, utility, telecommunication, oil and gas, transportation, scientific research, others), type (on-premises and on-demand), and solution (end to end solutions and point solutions), and maps these segments and sub segments across major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW). The report provides in-depth market intelligence regarding the market dynamics and major factors that influence the growth of the drone analytics market (drivers, opportunities, and industry-specific challenges), along with an analysis of micro markets with respect to individual growth trends, prospects, and their contribution to the drone analytics market.
The drone analytics market report provides insights on the following pointers:
- Market Penetration: Comprehensive information regarding the competitive landscape in the drone analytics market.
- Market Sizing: Market size in the financial year 2015 - 2016 and projection of the market size from 2017 - 2022. Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the drone analytics market.
- Market Overview: Market dynamics and subsequent analyses of associated trends, drivers, and opportunities prevailing in the drone analytics market.
- Market Development: Comprehensive information about lucrative markets by analysing markets for drone analytics solutions across various regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the drone analytics market.
- Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, the Middle East, and Rest of the World.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players.
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