Drone analytics market has evolved rapidly on the back of the need for end-to-end ecosystem that only collects data. Further, it offers field intelligence that has vast business value. The trend of extracting in flight intelligence from drones is a key factor boosting the market. The offering by various service providers that offer infrastructure that combine drone-captured images, videos, and LiDAR has propelled the strides in the market. Over the past few years, cloud-based data visualization and analytics platform are growing in popularity. The proliferating volumes of drone-captured data has propelled the need for artificial intelligence and data science services.
Top players are focusing on offering turnkey drone flight services operations. Over the past few years, various end-use industries, notably the agriculture industry, has been stimulating the need for aerial data on-demand. The increasing trend of precision agriculture is a key factor propelling the demand for extracting intelligence from drone analytics. The trend is gathering traction in developing and developed regions. Such regions are witnessing high uptake of drones to bolster their productivity and reduce crop waste. Enterprise agriculture businesses are seeing new potential in the drone analytics market.
Advancements in sensors have helped create new avenues in the market. The use of integrates sensors technology is boosting the market. Growing need for analytics in improving services industries is bolstering the demands for drone analytics. The growing industrial use cases is a key trend boosting the market. The numbers of drone companies in the drone analytics market are growing in developing and developed regions. Advent of cloud-based decision support system has paved way for new revenue streams for service providers in the drone analytics market. The market is also witnessing new wave of customization.
Drone Analytics Market: An Overview
The penetration of drone system is increasing in the world economy. One of the major beneficiaries of this penetration is players operating in the drone analytics market. Drone based monitoring is highly preferred in oil and gas industry, insurance, agriculture and construction industry. To process analysis done by drone system, enterprises need a drone analytics software that help them analyze and consume these data collected by drones.
These drone analytics solutions can analyze 2D and 3D visualizations of the sites recorded by a drone. These utilities have ability to measure distances and determine length and area, as well as the volume, of a stockpile.
A report on drone analytics market by Transparency Market Research (TMR) will offer its readers in-depth understanding of historical developments in the industry. It will provide a detailed analysis of several opportunities prevailing in the market. It will have a detailed product segments, key countries, end-user segments and import/export dynamics of the drone analytics market.
Drone Analytics Market: Notable Developments and Competitive Landscape
The competitive landscape of the drone analytics market is evolving rapidly. This is mainly because the drone monitoring is a new concept. The market is dominated by several giant players with number gradual increase in number of new entrants, this is rendering a moderately consolidated landscape to the drone analytics market.
Some of the players operating in the drone analytics market are Esri, Viatechnik LLC, PrecisionHawk Inc, DroneDeploy, Delta Drone SA, Airware Inc, AeroVironment Inc, LLC, Agribotix, and Pix4D SA.
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These small players are adopting organic growth strategies such as collaborations, acquisitions and business expansion in order to concretize their market hold. For instance, 1st August 2019 Kespry and DroneBase announced to collaborate with each other in order to expand their offerings ad improved their existing system.
Such developments will shape the future of drone analytics market by making services cost-effective and productive for the consumers.
Drone Analytics Market: Key Trends
Drone analytics market is at present at a nascent stage, the future prospects of the industry is relied on the increasing adoption of drone in different market sectors. Drone based monitoring has done well in sectors such as precision farming and mining. The drone analytics solutions are helping them analyses several key factors associated with the land and its real time situation. This information is crucial to these industries and this industry is investing heavy on drone analytics. This is a major boost to the drone analytics market.
Nonetheless, despite several driers and opportunities growth in the drone analytics market is fairly compromised due to growing concerns regarding data-security and cyber-security. Moreover, implementation of drone and drone analytics need a robust infrastructure and several countries especially in emerging economies are not ready for this advancement.
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Drone Analytics Market: Regional Outlook
On the basis of geography, the drone analytics market is classified into North America, Asia Pacific, Europe, and the Middle East and Africa. Among these regions, North America is projected to hold highest share in the drone analytics market. This is mainly due increasing adoption of drone analytics by the business leaders in the region.
Further, Asia-Pacific holds immense growth potential for the growth of the drone analytics market. This is due to the high growth opportunities for drone analytics operations in nations such as India, China, and Japan owing to rapid expansion of commercial sector.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.