Portland, OR, Oct. 12, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global drone analytics market was estimated at $2.71 billion in 2020 and is expected to hit $28.57 billion by 2030, registering a CAGR of 29.2% from 2023 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
High demand for drone analytics in commercial applications and growing capital investments for the development of new and advanced drone software drive the growth of the global drone analytics market. On the other hand, rise in concerns over cyber security and data security and several restrictions enforced by different government bodies impede the growth to some extent. However, incorporation of the internet of things (IoT) in drones and high adoption of autonomous drones are expected to create lucrative opportunities in the industry.
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COVID-19 Scenario-
- The outbreak of the pandemic led to strict lockdown measures in the majority of countries and this factor gave way to a sudden fall in the availability of raw materials, thereby impacting the global drone analytics market negatively.
- Also, nationwide lockdowns forced the manufacturing facilities to partially or completely shut their operations. However, the global situation is being ameliorated at a slow & steady pace and the market is expected to revive soon.
The global drone analytics market is analyzed across type, application, end use, and region.
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Based on type, the on-demand segment accounted for the major share in 2020, holding more than two-thirds of the global market. The same segment would also grow at the fastest CAGR of 30.3% throughout the forecast period.
Based on application, the ground exploration segment generated the highest share in 2020, accounting for more than one-fifth of the global market. The same segment is also projected to manifest the fastest CAGR of 31.3% from 2023 to 2030.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 34.3% by the end of 2030.
The key market players analyzed in the global drone analytics market report include AeroVironment, Inc., Delair, Delta Drone SA, 3DR, PrecisionHawk, Huvrdata, Kespry Inc., Optelos LLC, DroneDeploy, and Pix4D SA. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Similar Reports We Have on Drone Technology:
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Commercial Drones Market by Type (Fixed wing drones, Rotary bade drones, Hybrid drones segment), Application (Agriculture and Environment, Media and Entertainment, Energy, Government, Construction & Archaeology) – Global Opportunity Analysis and Industry Forecast, 2014-2030.
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Drone Software Market by Architecture (Closed Source and Open Source), by Offering (Desktop software and App-Based Software), by Technology (Advanced Computing and Learning & intelligence), by Application (Image Processing, Analytics, and Control & Data Capture), and by End User (Military and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2030.
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