DRONE ANALYTICS MARKET TO REACH USD 6 BILLION BY 2024 | CAGR 25.3% – FORENCIS RESEARCH

Global Drone Analytics Market: Key Highlights

• According to the new market research report “Drone Analytics Market by Application (Land & Environmental Planning, Geographical Mapping, 3D Modelling), by End-User (Building and Construction, Oil & Gas, Agriculture), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024”, the global Drone Analytics Market is estimated to reach USD 6 Billion by 2024 at a CAGR of around 25.3% during the review period.
• Drone is commonly referred as the unmanned aerial vehicle, which is operated through the software-controlled flight plans in order to carry out specific functions such as transportation, surveillance, monitoring across various industries.
• It can be used across various industries such as oil and gas, mining, construction, agriculture and many others.
• However, high cost remain a major restraining factor for the growth of the drone analytics market.

Global Drone Analytics Market: Key Market Dynamics

• Rising adoption of drones for commercial application can support the huge range of applications which includes surveying sites, 3D mapping and delivery which may help to fuel the growth of the market.
• Rapid and accurate analysis provided by drone analytics has advance higher ability performance, easy data availability, and to reduce timestamp which may be key factor to drive the market growth.
• High cost of the drone may hamper the market growth where the analytics is linked to the cost for the pervious monitoring of data which may increase the cost of process.
• Benefit the end-user with its faster and accurate analytics for the operational support which can work as a great supporting factor to the market growth.

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Global Drone Analytics Market: Regional Overview

• Asia-Pacific

The drone analytics market in the Asia-Pacific region is projected to witness high demand due to the high production of aircraft in the region. According to the International Air Transport Association (IATA), the region is significance to be a manufacturing center of the world and profit by the transport advance the sales of many of the region airlines. Also demand for the cargo volume and trade is consider to be moderate,

The region is supporting the air cargo and world trade by the profit of USD 4.9 Billion in 2019 and projected to grow USD 6 Billion by 2020.

• Europe

According to the International Air Transport Association (IATA), the region is net profit is witness to be USD 6.2 Billion and is anticipate to be USD 7.9 Billion by 2020. According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D. however, the Germany is the second largest aviation market in the region which can help to fuel the market growth.

Global Drone Analytics Market: Key Players Overview

• Ageagle Aerial Systems Inc.:

Ageagle Aerial Systems Inc. deals in commercial agriculture Drone Company.  Also its design, support technologically advanced small unmanned aerial vehicles and agriculture industry. The industry is major provider for advanced drone enabled data analytics solution for the proper result sustained. In 2018, the company is supplying the corporate update on its enterprise strategy and growth initiatives.

• Esri:

The company is a global supplier for the geographic information system software. Also the company GIS is the most powerful mapping and spatial analytics technology available. The ArcGIS drone collection of the company is GIS insight and location powered intelligence with the help of drone. In 2019 the company announced its partnership with 3DR to launch the ArcGIS drone collection which will lead to enhance the drone analytics growth in the forecast period.

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