The global drone software market is expected to reach $23,73-billion by 2030 – expanding at a CAGR of 18,6% from 2023 to 2030 – according to a new study by Grand View Research.
The growing trend of integrating AI and machine learning (ML) algorithms into drone software to optimise various functions, including autonomous flight, object detection, obstacle avoidance, and data analysis, is expected to drive the market for drone software over the forecast period.
Additionally, this technological development enables businesses and organisations to boost drone capabilities, ensure safer and more dependable drone-based operations, and improve operational efficiency, which is expected to drive demand in the coming years.
Technological advancement is a prominent trend in the market for drone software.
Leading market players are focusing on developing advanced drone software that offers automation in drone flying, efficient picture data transfer, and delivers survey-grade results. For instance, in March 2022, Asteria Aerospace, an Indian drone manufacturer and solution provider, launched “SkyDeck”. This cloud-based platform provides a comprehensive Drone-as-a-Service (DaaS) solution offering AI-based aerial data analysis, data processing, visualisation, and drone fleet management for diverse applications.
Such technological innovations are restructuring the drone industry and empowering businesses to harness the full potential of drones for various purposes with enhanced efficiency and accuracy. Such developments are poised to drive market growth for drone software over the forecast period.
Several companies operating in the drone software space focus on collaborations and acquisitions to cater to a larger customer base and strengthen their foothold.
Such developments are expected to propel the market expansion for drone software over the forecast period.
Highlights of the Drone Software Market report include:
* Based on solution, the application segment accounted for the largest market share in 2022. This is attributed to the properties offered which include comprehensive and integrated software platforms.
* Based on architecture, the open-source segment accounted for the largest market share in 2022. This is attributed to its public availability and its ability to modify as per the requirements of the end user.
* The onboard deployment segment is expected to grow considerably in coming years owing to its ability to enable software applications to run directly on the drone’s embedded systems.
* Based on application, the filming & photography segment accounted for the largest revenue share in 2022. The increasing number of events being held globally such as weddings, sports, races, and educational ceremonies, among others, is driving the segment growth.
* In terms of industry verticals, the media & entertainment segment dominated the market with the largest revenue share in 2022. The increasing adoption of drones equipped with high-quality cameras and advanced stabilisation systems for aerial cinematography is driving segment growth.
* Based on the drone type, the rotary blade segment accounted for the largest market share in 2022. This is attributed to its rapidly growing usage in inspection activities.
* Based on end-use, the commercial segment accounted for the largest revenue share in 2022 owing to the increasing enterprise application of drones across various industry verticals.
* The North American market captured a significant revenue share in 2022. The growth is attributed to the presence of key industry players in the region along with a strong drone-based infrastructure.