The global drone data service market size is expected to reach USD 8.15 billion by 2025, expanding at a CAGR of 57.3%, according to a new report by Grand View Research, Inc. The growth can be attributed to the growing usage of information acquired by drones in operational and big data analytics. The increasing need for UAV imagery analysis is presumed to impact the global drone imagery processing software industry positively and add a new horizon in imagery storage technologies.
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The increasing adoption of drones in commercial sectors is leading to a revolution in big data cloud services. Launching a drone to capture images is the preliminary step in the drone information acquisition process. The captured images then require correction, calibration, processing, storage, and efficient evaluation.
The increasing need to evaluate imagery is a key factor driving the adoption of drone imagery software and cloud-based applications, which possess the ability to upload, share, store, and process aerial images. Moreover, there has been a steep increase in the use of cloud-based in-memory computing platform amongst businesses as it accelerates analytics, processes, and predictive capabilities.
By gathering information on a larger scale, service providers can now process unprecedented levels of detailed information and turn it into actionable information. UAV companies, such as PrecisionHawk, are transforming their business processes to enhance their focus on drone data processing rather than UAV manufacturing.
Further key findings from the report suggest:
• The industry requires significant improvements in various processes, such as increased fusion of data, compression, encryption, and on-board processing, as the software to perform analytics directly from imagery is still in the research phase
• Big data generated by drones is of vital importance in various sectors, including monitoring construction activities, ortho-rectification, and creation of Digital Surface Models (DSMs) and Digital Terrain Models (DTMs).
• North America is presumed to emerge as the dominant region while Asia Pacific is expected to witness unprecedented growth over the forecast period.
• Over the next three years, agricultural firms and construction companies are expected to harness the capabilities of aerial surveillance through drones on a large scale as these industries have not yet explored the benefits of imagery optimally
• Drone imagery service providers across the globe are expected to transform themselves from being straight up services companies to holistic data analytics companies.
• Key players include in the drone data service market are PrecisionHawk, DroneDeploy, DroneCloud, 4DMapper, Sentera, LLC, Pix4D, Skycatch, Inc., Dronifi, Airware, and Agribotix LLC.
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Grand View Research has segmented the global drone data service market on the basis of service type, platform, end-use, and region:
Service Type Outlook (Revenue, USD Million; 2014-2025)
• Mapping & Surveying
• Photogrammetry
• 3D Modeling & Digital Elevation Model (DEM)
• Others
Platform Outlook (Revenue, USD Million; 2014-2025)
• Cloud-Based
• Operator Software
End-use Outlook (Revenue, USD Million; 2014-2025)
• Real Estate & Construction
• Agriculture
• Mining
• Others
Regional Outlook (Revenue, USD Million; 2014-2025)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
• Asia Pacific
o China
o Japan
• Latin America
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.