Market Overview
The growth of the global drone analytics market can be attributed to the increasing adoption of 3D printing for manufacturing drone parts and rising use of advanced drone cameras in the oil & gas, agriculture and forestry, construction industries. However, stringent government regulations regarding drone use and the limited flight range may hinder market growth. For example, in the US, a commercial remote pilot certificate from the Federal Aviation Administration (FAA) is required to fly drones for commercial purposes.
Competitive Landscape
The key players in the global drone analytics market are 3D Robotics (US), AeroVironment, Inc. (US), AgEagle Aerial Systems, Inc. (US), Airware (US), DroneDeploy (US), Delta Drone (France), Esri (US), VIATechnik LLC (US), PrecisionHawk, Inc. (US), Pix4D SA (France), Kespry (US), Optelos (US), DJI (China), Sentera, Inc. (US), and HUVRdata (US)
Market Segmentation
Based on region, the global drone analytics market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. The presence of various drone manufacturers such as DJI in China is propelling market growth in the region. Additionally, the rising number of drone analytics startups in developing nations such as India is boosting market growth. For example, in 2018, SenseHawk, a drone analytics startup, raised USD 2 million in a funding round led by SAIF Partners.
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Regional Analysis
North America dominated the global drone analytics market, by region, in 2018 owing to the adoption of drones in various industries such as agriculture and forestry and oil & gas. However, the market in Asia-Pacific is expected to be the fastest-growing during the forecast period. The availability of low-cost drones and increasing manufacturing of lightweight drones in countries such as China are propelling market growth in the region. Furthermore, increasing construction activities in China and India are propelling market growth in the region. Additionally, investments by prominent drone analytics providers in countries such as India are expected to drive market growth. For example, in March 2019, Esri opened a research and development center in India to develop solutions related to deep learning and geospatial artificial intelligence (AI).
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