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The global drone software market size is expected to experience an exponential growth by reaching USD 43042.64 million by 2032 while exhibiting an astounding CAGR of 32.00% between 2024 and 2032. This is attributable to the increasing adoption of advanced technologies such as artificial intelligence and machine learning in the development of drone software across the globe. Fortune Business Insights, in its latest, report, titled, “Drone Software Market Size, Share & Industry Analysis, By Architecture (Open Source and Closed Source), By Platform (Application-Based Software and Desktop-Based Software), By Application (Analytics, Image Processing, and Control & Data Capture), and Regional Forecast, 2024-2032,” observes that the market stood at USD 1,165.3 million in 2019 and is likely to gain momentum in the forthcoming years.
List of the Companies Operating in the Global Market for Drone Software:
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
Information Source:
https://www.fortunebusinessinsights.com/drone-software-market-103527
What does the Report Include?
The global UAVs software market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Adoption of Artificial Intelligence in Drones to Favor Growth
The unmanned aerial vehicles (UAVs) or drones have a built-in computerized technology such as GPS, programmable controllers, sensors and cameras, and other equipment that facilitate automated flights. In addition to this, the inclusion of advanced technologies such as artificial intelligence (AI) in drone software is aiding in accurate object tracking, obstacle detection, and prevention, among others. The increasing focus on developing smart cities that include advanced features such as well-connected homes, along with the adoption of AI-based security surveillance is driving the demand for drones. This is expected to further boost the global drone software market growth in the forthcoming years.
SEGMENTATION
Open Source Segment to Remain Dominant; Easy Availability of Open Source Software to Spur Demand
The open source segment, based on architecture, is expected to remain at the forefront and hold the highest market share owing to the easy availability and affordability of the open source drone software during the forecast period. Besides, the closed source segment held a market share of 17.4% in 2019 and is likely to gain momentum owing to the rising demand for customized and secured architecture in UAVs from military purposes.
REGIONAL INSIGHTS
Presence of Major Companies in North America to Promote Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global UAVs market in the forthcoming years. This dominance is attributed to the presence of multiple established commercial UAVs manufacturers in the region. Additionally, the region stood at USD 421.14 million in 2019. The market in Asia-Pacific is expected to showcase a significant growth during the forecast period. This is ascribable to factors such as the increasing adoption of drones that are driving the demand for drone software across several industrial applications such as agriculture, construction, and infrastructure, among others between 2020 and 2027.
COMPETITIVE LANDSCAPE
Collaboration between Major Companies to Consolidate Their Market Positions
The global drone software market is dominated by major companies such as DroneDeploy and Airwave. These companies are collaborating with the other key players to strengthen their positions in the highly competitive global marketplace. The other major companies such as 3D Robotics and Dreamhammer, Inc. are set to adopt strategies such as the introduction of new products, merger and acquisition, and partnership to maintain their market presence during the forecast period.
Industry Development
In January 2020, U.K.-based Sky-Drones Technologies Ltd launched its new Sky-Drones Cloud platform. This full-featured solution is designed for integrated drone fleet management, enabling real-time control, mission planning, performance monitoring, and post-flight AI-powered analytics.
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