Rapid Growing Adoption of Real-Time Devices in Construction Sector
- The UAVs (unmanned aerial vehicles) or drones can play a key role in monitoring and analyzing of construction activities, wherein they can considerably improve and enhance the performance and speed of operations. Drones can be potentially employed at a number of stages in a construction project such as pre-planning, construction process monitoring, detailed survey and mapping of the construction site, and post-build checks.
- Likewise, drones can also perform as real-time devices for developers to monitor if their construction project is compatible to their concept or not. Additionally, the information obtained through drones can help planners and construction companies to plan out the entire construction site and keep a track of their inventory. This is anticipated to increase the adoption of drone-based solutions in construction market in near future.
Key Drivers of Drone-based Solutions in Construction Market
- Increasing focus on investments in the construction sector is influencing the adoption of technological innovations and increasing pace of the global drone-based solutions in construction market. For instance, the Ministry of Road Transport and Highways of the Government of India invested around US$ 77 Bn in construction schemes in 2017. Additionally, the U.K. Government has announced to invest nearly US$ 510.68 Mn in innovative construction technologies to boost house-building productivity of the country. This is likely to contribute in the growth of drone-based solutions in construction market.
- These investments would help the construction sector to adopt drones or unmanned aerial vehicles (UAVs) with the help of cameras and sensors. Drones or unmanned aerial vehicles have emerged as a cost-efficient solution for constructors to obtain accurate real-time data through 3D mapping. Thus, rapidly increasing investments in the construction sector are augmenting the adoption of drone-based solutions across the global construction sector.
Limited drone operation bandwidth restraining the drone-based solutions in construction market
- Drones usually require wireless connectivity for communication between drones and ground control systems as well as between drones and air traffic management systems to capture appropriate data. Thus, lack of connectivity or limited bandwidth connection can hamper the efficiency of drones. Limited drone operation bandwidth is a major factor restraining the global drone-based solutions in construction market.
To get glimpse of what our report offers, ask for a report brochure
Europe to Hold a Major Share of Global Drone-based Solutions in Construction Market
- In terms of region, the global drone-based solutions in construction market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is expected to hold a major share of the global drone-based solutions in construction market during the forecast period, as the region is witnessing rapid technological advancements in drones and deployment of drones with features such as hyperspectral and thermal sensors to capture the view from drones
- On the other hand, Asia Pacific is expected to be a rapidly expanding region of the global drone-based solutions in construction market, due to increasing investments in infrastructure development in the region. China and India are key markets for drone-based solutions for construction in the region.
Global Drone-based Solutions in Construction Market: Competition Landscape
- In February 2018, Identified Technologies introduced its new drone mapping analytics features for use in various industry verticals such as mining, construction, and energy. These new features include haul road analysis, slops maps, plan IQ camera view, and enterprise site permission.
- In June 2018, DroneDeploy raised US$ 25 Mn in a Series-C round of funding to help drone operators capture and analyze aerial data for use in construction, mining, agriculture, and insurance sectors
- In August 2017, 3D Robotics signed a partnership agreement with DJI Drones (a China-based technology company) to focus on enterprise software with an aim to help construction and engineering sectors manage their building sites and operations. The partnership would help the company expand its product portfolio and gain a market share in the Asia Pacific market.
To get a bird’s eye view of market forecast, ask for a Custom Report
Key Players Operating in Global Drone-Based Solutions in Construction Market:
- Identified Technologies
Founded in 2013 and headquartered in Pittsburgh, Pennsylvania, the U.S., Identified Technologies is specialized in providing commercial drone solutions to various industries includes mining, construction, and energy. The company also empowers ENR–400 and Fortune–500 companies such as Vulcan, EQT, and PJ Dick, with the capability to deliver a new level of transparency for challenging project management responsibilities. The company offers drone-based solutions for construction sector as well.
- 3D Robotics
Established in 2009 and based in Berkeley, California, the U.S., 3D Robotics designs, develops, manufactures, and supplies parts and technology for use in unmanned aerial vehicles (UAVs). The company also offers GPS, servos, sensors and IMUs, R/C electronics, and cables and connectors. It provides its solutions to various industries such as construction, civil engineering, and mining.
Incorporated in 2013 and located in San Francisco, California, the U.S., DroneDeploy is a key provider of cloud-control software solutions for drones such as real-time mapping and data processing, automated workflows, and flight safety checks. The company also provides a mobile app connected with DJI drones, enabling them to capture aeronautical data from the skies. The company provides its solutions across 180 countries for use in industries such as mining, construction, agriculture, insurance inspection, solar energy, and oil & gas.
- Skylark Drones Private Limited
Founded in 2014 and headquartered in Bengaluru, Karnataka, India, Skylark Drones Private Limited uses drones or UAVs to acquire information and analyze and present it to various enterprises operating in mining, construction, renewable energy, and agriculture sectors.
Some of the other prominent players operating in the global drone-based solutions in construction market are:
- Trimble, Inc.
- ABJ Drones
- Prenav, Inc.
Global Drone-Based Solutions in Construction Market: Research Scope
Global Drone-Based Solutions in Construction Market, by Component
- Consulting Services
- Support & Maintenance Services
- Training & Education Services
Global Drone-Based Solutions in Construction Market, by Type
Global Drone-Based Solutions in Construction Market, by Application
- 3D Map Creation
- Routing Construction Progress Monitoring
- Volumetric Measurement
- Workplace Safety & Security Control
- Disaster Recovery
- Detection of Defects
Global Drone-Based Solutions in Construction Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of Latin America
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?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.