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Drone Software Market to Hit USD 5,961.6 Million by 2027; DroneShield Launches New Software DroneOptID to Strengthen its Product Portfolio

September 28, 2020 | Aerospace & Defense

The global drone software market is expected to gain momentum by reaching USD 5,961.6 million by 2027. This is attributable to the increasing adoption of UAVs for commercial purposes across the globe. Fortune Business Insights, in its latest report, titled, “Drone Software Market Size, Share & COVID-19 Impact 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, 2020-2027,” mentions that the market stood at USD 1,165.3 million in 2019 and is likely to exhibit a remarkable CAGR of 25.05% between 2020 and 2027.


DroneSheild Launches Drone Tracking Software DroneOptID


In May 2020, DroneSheild, a prominent drone software solutions company, announced the launch of its new camera-based software, DroneOptID. The new software is camera-agnostic that supports wide cameras and efficiently detects, identifies, and tracks UAVs. Additionally, the software is equipped with modern technologies such as machine learning and artificial intelligence (AI) that aid in tracking the drones in real time using the computer vision technology.


Oleg Vornik, CEO DroneShield, comments, “Our core approach to effective mitigation and detection of drones are the multi-layered systems. DroneOptID is a step ahead than the other software sensors as it provides a sophisticated method to obtain vital visual data on the drone. Furthermore, this data can be adopted for several purposes such as reviewing the payload of the drone, extracting evidence, and directing kinetic energy at the drone, while providing additional information to the user.” Such initiatives by the companies are expected to bode well for the UAVs software market in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/drone-software-market-103527


Increasing Adoption of Drones for Commercial Activities to Surge Demand


The increasing adoption of modern technology is driving the demand for sensors, drones, and robots across several industrial applications such as agriculture, construction, energy, and logistics, among others. The companies are leveraging drone software technology to increase productivity and improve management in day-to-day operations, while minimizing operational costs. For instance, the agricultural sector that is at the cusp of technological revolution is adopting robots, drones, and other moisture sensors, along with sophisticated drone software that is enabling the farmers to be more efficient, profitable, and safer. Additionally, the Food and Agriculture Organization of the United Nations (FAO), estimates that the adoption of modern technologies such as internet of things (IoT) can aid in over 70% increase in agricultural productivity by 2050.


The adoption of drones for several commercial purposes is expected to fuel the growth of the UAVs software market during the forecast period.


Major Companies Focus on Product Launches to Improve Sales Revenue


The global drone software market is highly fragmented with the presence of major companies such as Airwave and DroneDeploy. These companies are introducing new products to leverage the opportunities present in the market, and consolidate their positions by gaining huge sales revenue during the forecast period. The other players such as Dreamhammer, 3D Robotics, and others are adopting strategies such as merger and acquisition, collaboration, and partnership to maintain their presence in the fiercely competitive global marketplace.


Industry Development:



  • July 2019: DroneDeploy, the U.S.-based technology solutions company, introduced a single platform to execute all drone operations. The new drone software platform includes advanced analytics, automated drone fleet management, and better work-flow integration.


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


Further Report Findings:



  • North America is expected to remain dominant and hold the highest position in the global drone software market in the forthcoming years. This is attributable to the presence of major commercial UAV manufacturers that are developing advanced drone software in countries such as the U.S. and Canada. The region stood at USD 422.7 million in 2019.

  • The market in Asia-Pacific is expected to showcase an exponential growth owing to increasing adoption of UAVs that propels across several industrial applications such as infrastructures, agriculture, energy & power, and constructions between 2020 and 2027.

  • The segment open source, based on architecture, is likely to experience a considerable growth owing to the increasing adoption of cost-effective open source software by major companies during the forecast period. Also, the closed source segment held a market share of 17.4% in 2019 and is likely to experience growth backed by increasing demand for military and commercial applications.


Table of Segmentation:











































 ATTRIBUTE



  DETAILS



Study Period



   2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Architecture



  • Open Source

  • Closed Source



By Platform



  • Application-based software

  • Desktop-based software



By Application



  • Analytics

  • Image Processing

  • Control & Data Capture



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Rest of World (the Middle East & Africa and Latin America)


Global Drone Software Market
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  • 2019
  • 2016-2018
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