Huge Growth Expected in Drone Analytics Market in Future


Posted January 24, 2022 by devanshu

The increasing deployment of UAVs in the defense and security industry and rising preference for BVLOS capabilities will accelerate the adoption rate of drone analytics solutions in the upcoming years.

 
The surging preference for beyond-visual-line-of-sight (BVLOS) drone operations, owing to the ability of BVLOS technology to enable drones to fly beyond the sight of the controller, will create a huge requirement for drone analytics solutions worldwide. BVLOS-based drones allow controllers to monitor large areas and conduct complex operations without any human interference.

Owing to such advantages, drone manufacturers are increasingly offering BVLOS-equipped drones to meet the evolving needs of customers and provide extended support to business organizations.
Moreover, the booming demand for unmanned aerial vehicles (UAVs) in the defense and security sector will drive the drone analytics market at a robust CAGR of 32.1% during 2020–2030. The market was valued at $2,815.6 million in 2020 and it is projected to generate $45,575.9 million revenue by 2030.

These drones help in recording high-quality data and reducing technology costs. The defense and security industry has been extensively deploying UAVs for the surveillance of areas vulnerable to attack and for conducting effective operations in border areas. According to P&S Intelligence, the North American region was the largest user of drone analytics solutions in the recent past.

This was due to the escalating demand for improved inspection and surveillance through drones, increasing integration of state-of-the-art technologies, such as machine learning (ML), the internet of things (IoT), and computer vision, in the drone software, and surging need for solutions to take immediate actions during unfavorable incidents in the agriculture, energy and utilities, and oil and gas industries in the region.

Thus, the increasing deployment of UAVs in the defense and security industry and rising preference for BVLOS capabilities will accelerate the adoption rate of drone analytics solutions in the upcoming years.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Devanshu
Country United States
Categories Business
Last Updated January 24, 2022