FREMONT, California, September 5, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research titled "Global Drone Data Services and Analytics Market: Analysis and Forecast, 2018-2023", the drone industry has grown significantly with the rising demand from various end users including military, law enforcement, and commercial. Drones can carry out operations with much more efficiency and accuracy as compared to humans. These are used to capture the data through aerial photography and videography and then collect data to generate maps and 3D data models automatically. The data collected by drones can be analyzed to identify the details pertaining to environment or asset. In addition, there is significant growth in the number of drones every year.
According to the U.S. Federal Aviation Administration (FAA), a total of 772,000 drones were registered by the end of May 2017, and this number is expected to grow gradually. Thus, the growing drone market is likely to impact the increasing need for drone data services and analytics in the near future. The commercial sector is the major end-user of the drone data services and analytics applications. Some of the prominent commercial industries that have deployed drone data services and analytics include agriculture, construction, utility, real estate, mining, and others. The drone data service providers carry out commercial operations across different industries and enable operators to analyze the information gathered with the help of the analytics platform provided by drone data analytics organizations.
Furthermore, the companies and research organizations are focused on integrating new technologies, such as artificial intelligence, and machine learning, among others, in the drone analytics while providing the drone data services across the commercial industries. This would enable the drone operators to analyze the data based on techniques such as self-learning and decision making. According to BIS Research analysis, the global drone data services and analytics market is estimated to be approximately $4.5 billion in 2018.
The global drone data services and analytics market is categorized into services and analytics. The drone data services market is estimated to grow at the highest CAGR of 64.0% during the forecast period 2018-2023. Currently, the significant demand for drone data services and analytics is from the commercial application including pipeline inspection, mapping & surveying, risk assessment, inspecting structures, and crop health assessment, among others. The major commercial industries that have influenced the demand for drone data services and analytics include agriculture, construction, utility, real estate, and mining. In 2017, agricultural industry acquired the largest share of the global drone data services and analytics market; however, the construction industry is expected to grow at the highest CAGR of 70.6% during the forecast period, 2018-2023.
According to Sneha Rawal, Analyst at BIS Research, "North America is one of the most prominent regions for the growth of the global drone data services and analytics market. In 2017, North America dominated the global drone data services and analytics market with the U.S. acquiring the maximum market share, globally. However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region. China acquired the largest market share; whereas, Australia is expected to witness the highest growth rate in the Asia-Pacific region during the forecast period, 2018-2023. Similarly, the European market is also likely to witness numerous growth opportunities during the forecast period 2018-2023."
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented into types and industries. Types segment is further divided into services and analytics subsegments. Moreover, industry segment includes agriculture, construction, utility, real estate, mining, and others. The report also includes a comprehensive section on the geographical analysis including country-wise analysis for more than ten different countries.
This report is a meticulous compilation of research on more than 50 players in the drone data services & analytics ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiles of around ten companies which are 3D Robotics, Airware, DroneDeploy, Kespry, Measure, Parrot SA, PrecisionHawk, Inc., Propeller Aerobotics Pty Ltd, Agribotix LLC, and Skycatch, Inc.
Key questions answered in the report:
What are the trends in the global drone data services and analytics market across different regions?
What are the major driving forces that tend to increase the demand for the drone data services and analytics market during the forecast period 2018-2023?
What are the major challenges inhibiting the growth of the global drone data services and analytics market?
What is the revenue generated by the global drone data services and analytics market (by type) (services and analytics) in 2017, and what will be the estimates in 2023?
Which type of the global drone data services and analytics market will dominate in the coming years?
Which industry (agriculture, construction, utility, real estate, mining, and others) of the global drone data services and analytics market will dominate in the coming years?
What is the total revenue generated by each industry for different types in the global drone data services and analytics market in 2017, and what will be the estimates in 2023?
Who are the key players in the global drone data services and analytics market?
What are the new strategies adopted by the existing market players to make a mark in the industry?
What major opportunities do the drone data services and analytics companies foresee in next five years?
What is the competitive strength of the key leading players in the drone data services and analytics market?
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.