Drone analytics are used to collect, track and manage data which is later is used to make important decisions. They have the ability to provide 3D and 2D visualization of the area which is recorded by the drone. They also can calculate the area, distance, length and other aspects of the stockpile. These drone analytics are widely used by the construction and mining businesses so they can analyze amount of raw material and stockpiles in their inventory. They are widely used in applications such as geolocation tagging, aerial monitoring, ground exploration, thermal detection, 3D modeling, volumetric solution and other. Some drones also have the ability to analyze crops and farms if they are equipped with such drone analytic software.
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Some of the factors responsible for the growth of this market are:
- Rising demand of the drone analytics in commercial industry: Today, drone analytics are facing high demand from different industries such as construction, insurance, mining, oil and gas, telecommunication, scientific research and other. They are widely in demand because of their ability to provide safe, accurate and efficient information about sites. They are also used to track the information about the oil rigs so they can make sure they are safe as well as are well preserved. These data analytics are equipped with high quality camera which helps them to capture data properly and provide the engineers with accurate analytics
- Increasing investment in the new drone software: Today many different organizations are investing in drone software because it is very beneficial. They are used to survey damages during any natural or manmade disasters. They also can support law enforcement by searching for lost children, assisting in accident navigations and other. It can also be used to ensure safe infrastructure management and maintenance. Many media companies are investing in them as they help them to reach those areas which are not easy to reach
The global drone analytics market is segmented on the basis of industry as agriculture & forestry, construction, insurance, mining & quarrying, utility, telecommunication, oil & gas, transportation, scientific research, and others; applications as thermal detection, geolocation tagging, aerial monitoring, ground exploration, volumetric calculations, 3D modeling, and others; type as on-premises & on-demand and solution as end- to- end solutions & point solutions.
Some of the launches and acquisition in the market are as follow:
- In July 2019, Indshine announced the launch of their new enterprise drone-mapping Analytics platform Indshine 2.0. This new platform provides simple visualization of elevation models optimizes drone data analytics and offers a cooperative atmosphere to help small and medium-sized enterprises share full information sets and organizations know the progress of their continuing initiatives, thereby enhancing job transparency
- In February 2019, Delair announced the launch of their new Delair Aerial Intelligence which provide platform which will convert the drone based images into actionable business images. The new cloud-based solution offers a full embedded and easy-to-use business processes for data management, analysis and sharing, streamlining the process to unlock the real aerial survey potential. With this launch the company will be able to offer security, reliability, and scalability to their customers
“According to Data Bridge Market Research, global drone analytics market is set to witness a healthy CAGR of 28.25% in the forecast period of 2019- 2026”
Few of the major competitors currently working in the drone analytics market are Airware, AeroVironment, Inc., DroneDeploy, Delta Drone, Esri, PrecisionHawk, VIATechnik LLC, Pix4D SA, Kespry Inc., Optelos, HUVRdata, Sentera, Inc., Boeing, Saab AB, Thales Group, Textron Inc., 3D Robotics, BAE Systems, Elbit Systems Ltd.
There is high demand for drone analytics from various industries because in the term of applications they are very efficient and cost effective. With the integration of advance technologies such as artificial intelligence, blockchain technology and others, there accuracy has been increased which is also propelling its demand. Law enforcement organizations are also accepting these drones. These are some of the factor creating better growth prospects for this market in the upcoming days.
