PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226492
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226492
Global Drone Software Market is valued approximately USD 5.96 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.5 % over the forecast period 2022-2029. Drone software includes collision avoidance, obstacle detection, and many other device algorithms. It is also used to fuse all signal transmissions through the connected sensors, such as a visual sensor, ultrasound, and infrared sensor. Some drones also include firmware, which is used to fix physical bugs and controls. The Drone Software market is expanding because of factors such as rising use of drones in commercial and military applications and growing capital investment in drone software.
Deployment of autonomous drones is one of the world's fastest-growing technological advancements in defense applications. Its prevalence has progressively increased during the last few decades. According to the Statista, Revenue in the Drones segment amounts to USD 3.99 billion in 2023. The market is expected to grow annually by 3.48% between 2023 and 2027. In global comparison, most of the revenue is generated in China USD 1,394.00 million in 2023. Furthermore, growing capital investment in drone software. The enterprise market is a fast-growing segment of the drone economy today composed of drone hardware, software, and service companies that create various products for the commercial and industrial applications of drones. According to the Statista in 2020, the global enterprise drone market revenue was only USD 4 billion. However, by 2030 the enterprise drone revenue is anticipated to reach USD 29 billion. Another important component driving space increase is rising investments in the research and development related to drones. The global civil drone industry is expected to reach about 21.6 billion U.S. dollars by 2027. Military use has previously accounted for much of drone use, but the industry is increasingly entering commercial, scientific, and agricultural usage. However, vulnerability of hacking Drone Software stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Drone Software Market study includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the disruptive technologies used in drone software industry are transforming the way and helping the companies to gain competitive advantage. According to the Statista, North American drone package delivery system, amounting to USD 143 million and expected to reach over USD 4.7 billion by 2030. Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as increasing focus on the manufacturing of commercial drones at low cost and increasing government initiatives in defense research development in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable