Drone Analytics Market Size, Share & Trends Report

Drone Analytics Market Size, Share & Trends Analysis Report By End-use (Power & Utility, Construction & Infrastructure), By Application, By Deployment (On-premise, On-demand), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-485-9
  • Format: Electronic (PDF)
  • Historical Data: 2018 - 2019
  • Number of Pages: 110

Report Overview

The global drone analytics market size was valued at USD 7.20 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 22.8% from 2021 to 2028. The growing demand for sophisticated industry-specific analytical solutions that assist companies in gaining actionable insights from the data acquired by drones is primarily driving the growth. Drones have proven advantageous in optimizing the data more efficiently in numerous industries, including agriculture, construction and infrastructure, and oil and gas, driving the demand for drone analytics solutions. Companies are investing heavily in drone analytics solutions foreseeing the enormous opportunity the market holds. Drone monitoring is majorly carried out across oil and gas, construction, and defense industries. End-users use drone analytics to process and analyze the data procured from drone monitoring. Additionally, drone analytics software is used to assess 2D/3D images and videos captured via drones.

North America drone analytics market size, by end-use, 2018 - 2028 (USD Billion)

The demand for complete drone packages has increased drastically in recent years. With advanced resolution cameras for image mapping, video capturing, and equipment tracking, the amount of data generated from drones has increased tremendously in the past few years. However, the data generated from drones are typically unstructured. As a result, drone analytics is pivotal in converting unstructured data to structured data for analysis.

Complete drone analytics packages act as solutions for collecting the data and processing it. The significant increase in the amount of business data generated across several industries has paved the way for an increased demand for advanced analytics solutions as industries increasingly embrace data-driven decisions. The ability of these solutions to monitor and analyze the data for deriving advanced insights with less human intervention is anticipated to be a major driving factor for market growth.

The integration with advanced technologies such as AI has drastically improved the ability of drones to collect detailed data. For instance, ALPHA methodology is used in military drones to process data in less than milli-seconds and to collect precise data. Furthermore, construction-specific analytics software in advanced drones, in conjunction with advanced AI, can identify complex physical structures and predict maintenance recommendations. Moreover, deploying machine learning in analytics solutions can help reduce the risk and improve the reliability of drone operations.

End-use Insights

Based on end use, the drone analytics market is segregated into power and utility, construction and infrastructure, oil and gas, agriculture, transportation and logistics, and others. The power and utility segment accounted for the largest share of approximately 29.0% in 2020 and is expected to continue to dominate the market over the forecast period. The power and utility sector needs a combination of swift response and timely inspection to enable preventive and proactive measures. Drones are proficient in assisting this sector to inspect and gather an extensive amount of data on critical structures in a limited period and a cost-effective manner. Furthermore, using drone analytics solutions, the collected data is visualized, analyzed, and shared insightfully with the end-users.

The construction and infrastructure segment is anticipated to register a nearly 25.0% CAGR from 2021 to 2028. The ability of drones to digitally document and monitor construction sites allows end-users to take instant decisions about unpredicted issues and rectify the situation based on the data gathered. Additionally, the footage captured by drones can be converted into 3D models integrated with real-world conditions, helping improve prototypes and ensuring better feasibility during the pre-construction stage. These benefits are encouraging end-users to increasingly use drone analytics software at construction sites. For instance, Granite Construction, a producer of construction materials, is deploying drone analytics solutions to monitor and calculate inventory levels of asphalt, gravel, etc., and make efficient production decisions.

Application Insights

Based on application, the market is segmented into thermal detection, aerial monitoring, ground exploration, 3D modeling, and others. The thermal detection application dominated in 2020 and accounted for over 29.0% of the revenue share. An upsurge in the demand for thermal detection technology across numerous industries, including agriculture, oil and gas, construction and mining is expected to drive the segment. Thermal detection is essential to identify gas leakages on towers or platforms and mitigate potentially dangerous scenarios and exposure to emissions for workers, which could result in the overall shutdown of the facility.

The 3D modeling segment is expected to register the highest CAGR of 25.0% from 2021 to 2028. 3D modeling allows for the efficient visualization and reconstruction of assets. For instance, a wind turbine engineer can use 3D modeling technology to visualize the construction of a windmill. The images captured by drones would be processed by the analytics software, further transforming into a 3D point cloud, and thereafter into a solid 3D model. These models can be beneficial in performing virtual tours of assets or for preparing for maintenance visits. The information gathered is faster and modeling of assets is precise, ultimately enhancing the productivity of the workforce.

Deployment Insights

Based on deployment, the market is bifurcated into on-premise and on-demand. The on-premise segment captured the highest revenue share of over 68.0% in 2020. It is expected to retain its dominance over the forecast period. On-premise deployment enables the customer to store data and quickly generate 2D/3D models. For instance, AiroBox, a drone analytics solution provided by Airobot, incorporates powerful GPUs allowing a dataset of 500 images to generate a sparse point cloud in 15 minutes and a detailed point cloud within an hour.

Global drone analytics market share, by deployment, 2020 (%)

The on-demand segment is expected to register the highest CAGR of more than 24.0% from 2021 to 2028. The significant adoption of on-demand analytical solutions can be attributed to advantages such as high flexibility to access data, reduction in IT expenses, and huge capacity to store data. Additionally, the use of on-demand analytics solutions enables end-users to plan and control flights. There has been an increase in demand for this deployment type from industries such as construction, agriculture, and mining.

Regional Insights

North America accounted for the largest market share of approximately 40.0% in 2020. Key factors driving the growth of the regional market include increased investment in drone analytics from the commercial sector. Additionally, the rising adoption of drone analytics solutions integrated with technologies such as Machine Learning (ML), AI, and computer vision across various sectors, including agriculture, oil and gas, and energy and utilities, is further boosting the growth of the regional market.

The Asia Pacific regional market is expected to register the highest CAGR of 25.5% from 2021 to 2028. The promising growth of the commercial sector, especially in countries, including China, Japan, and India, has led to immense growth opportunities for the market in the region. Moreover, countries in the region are offering various schemes to encourage the adoption of drones. For instance, the Chinese government is providing subsidies and favorable policies for drone buyers in an attempt to encourage the adoption of drones in various end-use verticals.

Key Companies & Market Share Insights

The market is highly fragmented and features the presence of several local and international players. Key market participants are focusing on improving their solution offerings based on cost differentiation and enhanced technical features. Additionally, leading companies are investing heavily in the development of advanced technologies in an attempt to improve their existing portfolios. Companies are entering into partnerships to offer sophisticated industry-specific analytical solutions to end-users. Some of the prominent players operating in the global drone analytics market are:

  • Airware

  • DroneDeploy

  • Delta Drone

  • PrecisionHawk

  • AeroVironment

Drone Analytics Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 8.48 billion

Revenue forecast in 2028

USD 35.73 billion

Growth rate

CAGR of 22.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecasts, company ranking, competitive landscape, growth factors, and trends

Segments covered

End use, application, deployment, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan

Key companies profiled

Airware; DroneDeploy; Delta Drone; PrecisionHawk; AeroVironment

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global drone analytics market based on end-use, application, deployment, and region:

  • End-use Outlook (Revenue, USD Million, 2018 - 2028)

    • Power & Utility

    • Construction & Infrastructure

    • Oil & Gas

    • Agriculture

    • Transportation & Logistics

    • Others

  • Application Outlook (Revenue, USD Million, 2018 - 2028)

    • Thermal Detection

    • Aerial Monitoring

    • Ground Exploration

    • 3D Modeling

    • Others

  • Deployment Outlook (Revenue, USD Million, 2018 - 2028)

    • On-premise

    • On-demand

  • Regional Outlook (Revenue, USD Million, 2018 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

    • Middle East & Africa

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