According to a new report published by Allied Market Research, titled, “Drone Software Market,” The drone software market was valued at $5.96 billion in 2021, and is estimated to reach $21.93 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.
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Key Market Players
- AirMap Inc
- DroneBase Inc
- DroneDeploy Inc
- Pix4D SA
- SENSEFLY LTD
- SHARPER SHAPE
- SKYCATCH INC
- Sky-Future Ltd
- Skyward IO
- Yuneec INC
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COVID-19 Impact Analysis
- The COVID-19 impact on the drone software market is unpredictable, and is expected to remain in force for a few years.
- Due to the revenue crunch and rise in maintenance costs were two of the major challenges adversely affecting the drone manufacturers. Furthermore, the reduced GDP of major economies such as the U.S., UK, China, France, India, Germany, and others in 2020 was anticipated a drop in investment in the aerospace and defense industry.
- The reduction in aerospace and defense spending has had a negative impact on autonomous aircraft development and deployment plans, particularly unmanned aerial vehicles (UAVs), reducing demand for drones.
- However, various use cases of drone have been developed and utilized by drone service providers during the COVID-19 pandemic, including lab sample pick-up and delivery and transportation of medical supplies to reduce transportation times and minimize infection exposure, aerial spraying of public areas to disinfect potentially contaminated areas, and public space monitoring and guaranty.
- Moreover, vaccination drive enabled lowering of barriers to economic activity, as well as domestic and international travel. As the restrictions lifted, travel recovered quickly, leading to increase in UAV related applications, which expected to boost the drone software market.
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The drone software market is segmented basis of solution, application, architecture, deployment, and region. By solution, it is divided into system and application. By end use, it is divided into defense & government, agriculture, energy & power, construction & mining, media & entertainment, Logistics & Transportation, others. By architecture, it is segmented into open source and closed source. By deployment, it is divided into onboard drones, and ground-based. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
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KEY FINDINGS OF THE STUDY
- By solution, the system segment is expected to register a significant growth during the forecast period.
- By end use, the defense and government segment is projected to lead the global drone software market during the forecast period.
- By architecture, the closed source segment is projected to lead the global drone software market during the forecast period.
- By deployment, the ground based segment is projected to lead the global drone software market during the forecast period.
- Region-wise, Europe is anticipated to register the highest CAGR during the forecast period.
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “”Market Research Reports”” and “”Business Intelligence Solutions.”” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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