Northbrook, IL 60062 -- (SBWIRE) -- 09/22/2022 -- The report on the drone analytics market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
MarketsandMarkets: The drone analytics market is estimated to be valued at USD 2.1 billion in 2022 and is projected to reach USD 6.5 billion by 2027, at a CAGR of 25.5%. This growth can be attributed to the rising demand for agricultural drones, increasing use of drones in defense, and new application areas like thermal detection being carried out using drones, among others.
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Based on industry, agriculture segment to grow at impressive CAGR during the forecast period
The agriculture segment is projected to be the leading segment in the drone analytics market from 2022 to 2027. This segment is projected to grow from USD 0.5 billion in 2022 to USD 1.7 billion by 2027, at an impressive CAGR of 26.8% during the forecast period.
Based on application, thermal detection is estimated to dominate the market during the forecast period
The thermal detection segment by application is estimated to account for a larger share of 28.6% of the drone analytics market in 2022. This segment is projected to grow to USD 2.0 billion by 2027.
Based on type, SaaS segment is estimated to dominate the market during the forecast period
Based on solution, the end-to-end solution is projected to grow from USD 2.4 billion in 2022 to USD 7.8 billion by 2027.
The drone analytics market in North America accounts for a share of 30.3% in 2022. The market in North America is estimated to grow from USD 0.6 billion in 2022 to USD 1.7 billion by 2027, at the CAGR of 23.3% during the forecast period. The market in this region has been studied for United States and Canada. North America is estimated to lead the drone analytics market in 2022, with the US accounting for the largest share of the regional market. The analytics market in the US is continuously growing due to ongoing technological developments in drones and autonomous ground vehicles. North America has always been a center for free trade. It supports the growth of different industries and businesses.