Data-Driven Insights from Drone Analytics Critical for Serving Several Applications Across Varied Industries, says Market.us

Drones have been proven to improve data efficiency in many industries including building and infrastructure, oil and gas, and agriculture. This has prompted demand for drone analytics solutions.

According to Market.us, “ The Drone Analytics Market is projected to reach a valuation of USD 19.87 billion by 2032 at a CAGR of 25.2%, from USD 2.1 billion in 2022.”

Recent changes to drone regulations in several countries in the region will likely support growth. In the last six years, China has been the world’s hub for drone manufacturing.

China supports more than 70% of the civilian drone market worldwide. China offers drone purchase subsidies and other domestic policies that encourage the adoption of drones across various industries.

Anurag Sharma, a senior research analyst at Market.us, said, “Market participants can expect tremendous growth opportunities from the rising demand for intelligent software solutions for photogrammetry across many industries. Leading players are focusing on the integration of advanced technologies into their products to maximize potential growth.”

Due to strict global lockdown measures, the rapid spread of COVID-19 has had a significant effect on the global drone analytics industry in 2020. The COVID-19 pandemic created many challenges for the drone industry, including disruptions in the supply chain and logistics problems, as well as disruptions to the supply chain of essential raw materials. However, many countries that had established a drone-friendly environment such as the U.S., UK, and China were able quickly to mobilize the technology right from the beginning of the pandemic.

Drone analytics solutions are more effective than traditional tools for collecting data. Drones produce real-time data that can be analyzed to provide actionable insights for decision-makers.
Cloud computing is a cost-effective platform to store and handle large volumes of drone data. It also helps to increase computational power and automate drone-related system functions.

Advanced technologies like AI and machine learning are used in drone analytics solutions to allow users to differentiate processed data into valuable assets that can be used for deriving information.
Software solutions enable users to create 3D models and maps, take images, and analyze data to help them make business decisions. Drone analytics solutions are being adopted by the construction and infrastructure industries at an even faster rate.

To reduce the time spent by field staff, market leaders are creating solutions that incorporate technologies like big data analytics, machine learning, and computer vision. Companies are also looking for solutions that will speed up the construction process and decrease the time required to inspect the infrastructure with great precision.

Due to the strong demand for drone analytics in various industries, such as construction, insurance, mining, quarrying, utility, and telecommunications, as well as transport and scientific research, the market is growing. Drone analytics allows you to map difficult areas, save time and money collecting data and save on surveys.

The demand for complete drone packages is on the rise. High-resolution cameras that are used to record video, image mapping, and equipment tracking have greatly increased the number of data drones produce. Drone-generated data is often unstructured. Drone analytics is essential in structuring unstructured data for analysis.

Insurance is among the many industries that are already using drones to improve risk management.

An aerial site inspection can help identify property characteristics that allow the owner to choose whether to pursue a lower-risk profile or engage in the appropriate actions to reduce risk and support premium savings, which will be expected to drive the market.

Several countries have granted BVLOS authorizations for drones operating in the commercial sector. They granted drone analytics companies permission to conduct commercial operations that will help the industry grow in the future.

The drone industry is growing rapidly. Government agencies are increasingly using drones for everything from inspecting fire hotspots to transmitting messages via light shows. The rising number of drones will put enormous pressure on procedures for permits and exemptions, which almost all countries require to use drones. The implementation of these rules will be under threat due to a large number of drones. There are many challenges to increasing the utility of public safety drones.

These include limitations on flying beyond visual sight (BVLOS), insufficient battery life, flying at or lower than 400 feet, not being able to fly in restricted airspace, particularly near airports, as well as community-based privacy concerns. Insurance companies face difficult situations due to drones’ potential damage to assets and liabilities. Another area of concern is drug trafficking by drones.