According to a recent report by Fortune Business Insights titled "Drone Software Market Size, Share COVID-19 Impact Analysis," the global drone software market is expected to exhibit an astonishing CAGR of 25.05% between 2020 and 2027. The report estimates that the market will reach a size of USD 5,961.6 million by 2027, owing to the increasing adoption of advanced technologies such as artificial intelligence and machine learning in the development of drone software worldwide. The report also notes that the market stood at USD 1,165.3 million in 2019 and is expected to gain momentum in the years to come.
Information Scource:
https://www.fortunebusinessinsights.com/drone-software-market-103527
Drone software refers to the programs and algorithms that are used to control the flight and functionality of drones. This software can be divided into two main categories: onboard software and ground control software. Onboard software runs on the drone itself and is responsible for tasks such as stabilization, navigation, and communication with ground control systems. This software is typically designed to be lightweight and efficient, as it needs to run on the drone's limited processing power and memory. Ground control software, on the other hand, is used to plan and monitor drone missions from a remote location.
List of the Companies Operating 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
This software is typically more complex and feature-rich, as it needs to provide a wide range of functions such as route planning, mission management, and real-time data analysis. Drone software can also be specialized for specific applications, such as aerial photography or package delivery. In these cases, the software may incorporate additional features such as computer vision algorithms or automated flight planning tools.
Overall, drone software plays a critical role in enabling the safe and effective operation of drones for a wide range of applications.
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 16.4% 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 422.7 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 this 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
- July 2020: Aerodyne Group, a Malaysian drone software company, announced its collaboration with Celcom Axiata Berhad to develop IR 4.0 solutions that focus on the agricultural and urban sectors. The collaboration is aimed at jointly developing innovative drone solutions by adopting automation, artificial intelligence (AI), and machine learning technologies.
