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(IT-NEWSWIRE.COM, April 23, 2020 ) Market Overview
• Global Drone data services Market is expected to grow at a CAGR of 56% during the forecasting period (2019-2026).
• Drone data services involve the use of unmanned aerial vehicles (UAVs) in the collection of digital data in various end-user industries to monitor procedures and obtain useful details through aerial survey even remotely.
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Market Dynamics
• The evolution of data analytics throughout major industry verticals is one of the significant factors positively influencing the market growth of drone data services, as it increases the adoption of drones and its associated services in the field of data collection and analytics.
• The drone service providers are hence focusing on creating tailor-made software solutions for specific industries, coupled with the technological innovation of drones.
• For instance, in October 2018, Kespry Inc. announced the availability of enterprise-grade inventory management for mining and aggregates companies, with customers able to reconcile data from SAP BW®, Oracle JD Edwards EnterpriseOne®, and ViewPoint®.
• The improvement in the regulatory framework, such as the update in flight regulations by FAA concerning drone flights, helps in boosting the demand for data services.
• The need for accurate and standardized data points is also growing, with consumers preferring the use of drones for the benefits of high scalability satellite imagery.
• The risk of data breach is a top concerning factor of customers, as the collected data is highly confidential and should remain free from external modification.
• The threat from cyber-attacks remains at large, as foreign individuals can attempt to access the collected digital data stored on cloud-based technologies through illegal means.
• The safety of such public data is of paramount importance, thus hindering the widespread adoption of drone data services on a global scale.
• The absence of a skilled workforce and operators also act as market deterrents, coupled with constraint in endurance affecting the performance of drones.
• The rising technological innovation in artificial intelligence and machine learning languages and successful integration of blockchain technology in commercial drones is expected to present new opportunities for business expansion to key market players.
Segmentation Analysis
• The global drone data services market is segmented by service type into 3D modeling & digital elevation model (DEM), mapping & surveying, photogrammetry, and others including spectral imaging and object recognition.
• The mapping and survey segment is leading by market share owing to the adoption of satellite imagery for accurate measurements and land survey.
• The drone data services have substituted the conventional systems of land measurements, as the scalability of data is higher in comparison and can directly be used for analysis.
• By platform, the market is segmented into cloud-based and operator software. The market is currently dominated by the operator software such as SimActive and Drone2Map.
• However, the cloud-based segment is expected to witness robust growth during the forecast period owing to the integration of digital technologies and the benefits of smart connectivity throughout all devices.
• The drone data services market is further categorized by end-user into agriculture, construction, mining, real estate & construction and others including utility services and public safety.
• The real estate & construction segment is the leading segment by market share owing to the ease in the detection of energy losses in buildings, which can then be used to carry out real-time analysis and diagnostics.
• The agriculture segment is expected to grow at a rapid pace owing to the application of drone data services to analyze plant health, crop yield, and associated soil nutrition patterns.
Geographical Share
• The global drone data services market is segmented geographically by region into North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW).
• North America is the leading region by market share owing to the widespread adoption of drones for data collection and analysis, and expansion of business opportunities in the region by the development of innovative technological solutions.
• The companies are focusing on collaborations and joint ventures to expand the product portfolio. For instance, in May 2018, U.S.-based Airbus Aerial and DroneBase announced a partnership that delivers the world’s first multi-source data service solution for aerial imagery and data from a single provider.
Competitive Landscape
• The market scenario and competitiveness is highly intense, with all major companies focused on strengthening its market position through mergers & acquisitions.
• The key market players include SZ DJI Technology Co., Ltd., Delair-Tech SAS, Parrot SA, Kespry Inc., 3D Robotics, Inc., and PrecisionHawk Inc. For instance, in July 2018, Scotland-based Global Energy Group and Sky-Futures announced a strategic partnership to offer an end-to-end UAV inspection services to a wide range of industries including Oil & Gas, Renewables (Onshore / Offshore Wind), and Utilities. In September 2018, AgEagle Aerial Systems Inc. completed its acquisition of substantially all the assets of Agribotix, LLC, with Agribotix’s advanced imaging and data technology set to enhance AgEagle’s service offering and expand its business reach.
Report Insights
• The mapping & survey segment is leading by market share owing to the adoption of satellite imagery for accurate measurements and land survey, with highly scalable data directly be used for data analysis.
• North America is the leading geographical segment owing to the widespread adoption of drones for data collection and analysis, and expansion of business opportunities in the region by the development of innovative technological solutions.
• The companies are looking to expand the product portfolio by forming strategic partnerships and collaborations. For instance, in August 2018, Komatsu America Corp. and Propeller Aero Inc. formed a partnership to boost the efficiency of construction job sites using Smart Construction initiative, a range of integrated hardware and software products designed to offer an end-to-end workflow for each phase of construction.
Report Scope
• The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Product Benchmarking, and company profiles.
• Drone Data Services Market is segmented by type into 3D modeling & digital elevation model (DEM), mapping & surveying, photogrammetry, and others. By application, the global Drone Data Services market is segmented into cloud-based and operator software.
• The market is further categorized by end-user into agriculture, construction, mining, real estate & construction and others. Geographically, the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the World.
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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