The global drone software market is poised for exponential growth, with an anticipated value of USD 5,961.6 million by 2027, reflecting an impressive CAGR of 25.05% between 2020 and 2027. This surge is primarily attributed to the widespread adoption of cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML) in the development of drone software worldwide. Fortune Business Insights, in its latest report titled “Drone Software Market Size, Share & COVID-19 Impact Analysis,” delves into the market dynamics, presenting a comprehensive analysis of the industry landscape. The market, which stood at USD 1,165.3 million in 2019, is expected to gain substantial momentum in the years ahead.
Informational Source:
https://www.fortunebusinessinsights.com/drone-software-market-103527
Key Players in the Global Market:
- Airware, Inc (U.S.)
- 3D Robotics (U.S.)
- Dreamhammer Inc. (U.S.)
- Drone Volt (France)
- DroneDeploy Inc. (U.S.)
- ESRI (U.S.)
- Pix4D (Switzerland)
- Precisionhawk Inc. (U.S.)
- Sensefly Ltd. (Switzerland)
- Skyward Ltd. (U.S.)
- DJI (China)
- DroneDeploy (U.S.)
- Other Players
Drones play a pivotal role in scenarios where human intervention is challenging or risky, providing comprehensive support by relaying real-time audio-video information of ground activities. Equipped with advanced features, drone software demands high processing power for complex applications such as precise monitoring and surveying services. The software ensures efficient data execution and storage, minimizing CPU usage and battery drain.
Report Inclusions:
The global UAVs software market report offers a meticulous assessment of growth drivers, restraints, opportunities, and challenges anticipated during the forecast period. It incorporates in-depth research into regional developments affecting market growth, drawing insights from industry experts using various methodologies. The competitive landscape section provides detailed insights into strategies like product launches, partnerships, mergers and acquisitions, and collaborations adopted by companies to maintain market dominance between 2020 and 2027.
Driving Factors:
Increasing Adoption of Artificial Intelligence in Drones: The integration of artificial intelligence (AI) in drone software facilitates accurate object tracking, obstacle detection, and prevention. The growing emphasis on developing smart cities with features like well-connected homes, coupled with the adoption of AI-based security surveillance, propels the demand for drones, further boosting the global drone software market.
Segmentation:
Open Source Segment Dominance: The open source segment, based on architecture, is poised to lead with the highest market share, driven by the easy availability and affordability of open source drone software. Concurrently, the closed source segment, holding a 16.4% market share in 2019, is expected to gain momentum due to increasing demand for customized and secure architecture in UAVs, particularly for military purposes.
Regional Insights:
North America’s Prominent Position: North America is projected to maintain its dominance, holding the highest position in the global UAVs market. This dominance is attributed to the presence of multiple established commercial UAV manufacturers in the region, with a market valuation of USD 422.7 million in 2019. The Asia-Pacific market is anticipated to witness significant growth, driven by increasing drone adoption across industrial applications like agriculture, construction, and infrastructure.
Competitive Landscape:
The global drone software market is dominated by key players such as DroneDeploy and Airwave, actively engaging in collaborations with other industry leaders to fortify their positions. Major companies like 3D Robotics and Dreamhammer, Inc. are set to implement strategies, including new product introductions, mergers and acquisitions, and partnerships, to sustain and enhance their market presence.
Industry Development:
July 2020 Collaboration: Aerodyne Group, a Malaysian drone software company, announced a collaboration with Celcom Axiata Berhad to develop IR 4.0 solutions focusing on the agricultural and urban sectors. This collaboration aims to jointly innovate drone solutions by leveraging automation, artificial intelligence (AI), and machine learning (ML) technologies.
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