The Global Drones Data Services Market Growth to Flourish at 44.11% CAGR by 2027
“According to the new market research report published by Inkwood Research, the global drones data services market is growing at a CAGR of 44.11% throughout the forecasting years of 2019-2027.”
“Browse 24 market Data Tables and 36 Figures spread over 200 Pages, along with an in-depth TOC on global drones data services market forecast 2019-2027.”
The drone data services encompass the use of Unmanned Aerial Vehicles (UAVs) for data collection and visualization, which is provided to various companies for business process & capabilities enhancement. The drones are operated through remote-controlled or autonomously through software systems. On the other hand, data services are web services used to handle the programming work for data virtualization in a cloud-based storage platform. The drones are becoming popular business tools with various applications in agriculture, construction & real estate, mining, utility industries, and others.
Usages across Industries are developing the Drones Data Services Market Globally
The utilization of drones across numerous industries is widening owing to its benefits of better precision, improved productivity, reduced labor costs, and increased safety. The drones are used to collect images, videos, maps and analyze surroundings. Also, the advancement in drone technology is driving the drone data services market significantly on a global scale. Due to rising investments in UAVs, the manufacturers are developing custom industry-specific models & services. For example, the development of advanced hybrid drones that operate on the nonconventional source of energy and hypersonic drones.
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Construction is the Major End-User of the Global Drones Data Services Market
Construction & real estate sector holds the dominant share of the drone data services market. As a tool that improves communication, safety and marketing, drones help capture real-time images from the field. The drones also aid in site inspections, surveying the building’s roof, site inductions, and record & visualize the project progress. The industry widely uses the services due to the benefits such as saving time and cost along with reduced health & safety risks.
Asia-Pacific: The Fastest Growing Region of the Global Drones Data Services Market
The drone data services market is proliferating in the Asia-Pacific region owing to factors such as rising demand from non-military commercial fields and the presence of significant drone manufacturers. Due to growing urbanization and modernization, economic activities like infrastructure development, agriculture, and others are rising. As a result of emerging developments, the demand for commercial drones and services is elevating, in turn, fueling market growth.
The dominant players in the global market are, namely Intel Corporation, Bentley Systems, 3D Robotics Inc., Bae Systems, Airbus, Autodesk Inc., Harris Corporation, DJI, Dronedploy, Boeing, Lockheed Martin, Parrot S.A., Aerovironment Inc., Kespry, and Flir Systems Inc.
The prominent players focus on various strategies like collaborations, alliances, new product launch, business expansion, and contracts. Though low entry costs and ease of access to existing technologies are allowing new players in the market, the new regulations regarding drones operations are hindering the market growth.
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