Countries Modernizing Their Defense Capabilities with Drone Analytics

1. Rising Defense Procurement To Drive Drone Analytics Market at 29.8% CAGR till 2030 The major factors driving the growth of the drone analytics market are the increasing deployment of such solutions in the commercial and defense & security sectors and high usage of drone/unmanned aerial vehicles (UAVs) for tracking people’s movement. P&S Intelligence says that from $2,614.3 million in 2019, the sale of such solutions will grow at a 29.8% CAGR during 2020–2030 (forecast period). With such solutions, the data gathered from drones can be effectively studied, which helps in making important decisions in a range of industries. On the basis of solution, the market is bifurcated into point and end-to-end solutions, of which the end-to-end bifurcation dominated the drone analytics market in 2019, and it will also witness the fastest growth in the coming years. End-to-end solutions cater to varied requirements, including data collection as well as visualization, which is why the demand for such packaged solutions is rising. In order to meet the growing demand for a single software suite with image management, processing, and analysis functionalities, market players are rapidly introducing such products. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/drone-analytics-market/report-sam ple Geolocation tagging, thermal detection, ground exploration, 3D modeling, aerial monitoring, and others are the various categories in the drone analytics market, when it is segmented by application. During the historical period (2014–2019), thermal detection was the largest revenue contributor to the industry, due to the high requirement for high-resolution images and increasing deployment of thermal drone cameras for ferrying supplies in emergency situations and measuring the temperature of the body. The major trend being seen in the market currently is beyond-visual-line-of-sight (BVLOS) drone operations. With such drones, users can conduct operations remotely and monitor the activities and analyze all the data without any additional human involvement. BVLOS operations have numerous advantages, such as high-quality data gathering, long-range inspection capabilities, and lower technology costs. This is why solution vendors are integrating their offerings with BVLOS capabilities, to garner a larger customer share. The drone analytics market is being strongly propelled by the increasing adoption of such solutions in the defense and security sector. Military organizations are using UAVs for monitoring the vulnerable infiltration points as well as conducting operations in hostile territories. For instance, the $6.97 billion sanctioned by the U.S. Department of Defense

2. for drone procurement in 2018, was almost 21% more than the amount allocated the previous year. Apart from the U.S., Russia, China, and Saudi Arabia are also spending heavily on buying UAVs for military purposes. The increasing utilization of drones in the oil & gas sector is also leading to the rising demand for analytics solutions. Exploration and production (E&P) companies are using UAVs for a number of purposes, which include material handling, inspection and predictive maintenance, emergency response, remote monitoring and surveillance, and methane management. In response, market players are increasingly offering drone analytics solutions in the Middle East and African (MEA) region, which is one of the largest producers of crude oil and natural gas in the world. Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=drone-analytics-market North America held the largest share in the drone analytics market during the historical period, as the usage of UAVs for surveillance and inspection is increasing. Additionally, drone software is being equipped with computer vision, machine learning (ML), and internet of things (IoT) capabilities, and the demand for it is surging from the energy & utilities, oil & gas, and agriculture. In the coming years, Asia-Pacific (APAC) would grow the fastest, due to rapid digital transformation, rising usage of UAVs in the agriculture and media & entertainment sectors, and strong government support for their legalization.

3. Hence, as the security situation becomes more complex and several industries embrace the trend of remote monitoring, the demand for drones and associated analytics software will increase.