PUBLISHER: The Business Research Company | PRODUCT CODE: 1465871
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465871
Real estate drone services involve the use of unmanned aerial vehicles (UAVs) to provide various services related to the real estate market, such as capturing aerial images and videos of properties. These services are commonly utilized by real estate brokers, property developers, architects, and homeowners to showcase properties from different perspectives, highlight features, and offer potential buyers or tenants comprehensive views of the property and its surroundings.
The primary types of real estate drone services include mapping and surveying, inspection, and photography and filming. Mapping and surveying services utilize drones to gather data and create accurate maps, surveys, and 3D models of properties and landscapes. These services operate on various platforms, including operator software and cloud-based solutions, and cater to both commercial and residential customers.
The real estate drone services research report is one of a series of new reports from The Business Research Company that provides real estate drone services market statistics, including the real estate drone services industry's global market size, regional shares, competitors with an real estate drone services market share, detailed real estate drone services market segments, market trends and opportunities, and any further data you may need to thrive in the real estate drone services industry. This real estate drone services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The real estate drone services market size has grown rapidly in recent years. It will grow from $0.42 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth observed in the historical period can be attributed to increased demand for aerial imagery and mapping services, the cost efficiency and time-saving benefits offered, enhanced property marketing and visualization, improved safety and risk mitigation, regulatory support and compliance, growing adoption by real estate agencies and developers, and rising awareness and education among industry professionals.
The real estate drone services market size is expected to see rapid growth in the next few years. It will grow to $0.96 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The anticipated growth in the forecast period can be attributed to the expansion into new applications such as property inspection and monitoring, the demand for 3D modeling and digital twins in real estate, market penetration in emerging economies, strategic partnerships with real estate firms and construction companies, regulatory evolution to accommodate drone operations, and an increased focus on sustainability and environmental impact assessment in real estate projects. Key trends expected in the forecast period encompass the increasing demand for aerial photography, the expansion of services for property inspection, the integration of 3D mapping capabilities, the adoption of thermal imaging, the growth in demand for site analysis, and the adoption of drone technology for appraisal.
The anticipated growth in the construction industry is set to drive the expansion of the real estate drone services market. The construction industry encompasses various economic activities related to the acquisition, sale, leasing, and management of land, buildings, and other structures, spanning residential, commercial, and industrial real estate transactions. The upswing in the construction sector can be attributed to increasing housing demands, favorable mortgage rates, and a robust economy driving demand for property investments. Drones play a crucial role in construction by enabling remote monitoring, enhancing security, and facilitating maintenance processes. They contribute to cost reduction, increased efficiency, and streamlined operations. For instance, as of January 2024, the U.S. Census Bureau reported the sale of approximately 668,000 new homes in 2023, indicating a 4.2% increase compared to the previous year's total of 641,000 units. Moreover, in April 2023, the United States Census Bureau revealed that the overall value of residential and non-residential construction in the US grew by over 8% between 2020 and 2021. Consequently, the surge in the construction industry is a key driver behind the growth of the real estate drone services market.
Key players in the real estate drone services market are at the forefront of developing technologically advanced solutions, exemplified by offerings such as 3D virtual tours, designed to enhance data collection capabilities and provide more comprehensive insights. Leveraging three-dimensional visualizations and virtual reality, 3D virtual tours offer immersive and realistic property experiences, elevating property showcasing and decision-making for buyers and investors. For example, in February 2024, Rolington Media LLC, a US-based company specializing in creating immersive 3D virtual tours, introduced cutting-edge 3D virtual tours, professional real estate photography, and advanced drone services. This innovation transforms property presentations for real estate professionals, providing tailored solutions including 3D rendering and 2D floor plans for agents, investors, and property managers. Advanced drone services and superior photography create engaging experiences, attracting buyers and boosting sales in a competitive market. Rolington Media utilizes state-of-the-art 3D real estate technology to convert standard property listings into immersive, self-guided virtual model homes, allowing potential buyers to explore properties comprehensively from the comfort of their own homes.
In June 2021, Volatus Aerospace Corporation, a Canada-based leading provider of integrated drone solutions, successfully acquired ConnexiCore LLC for an undisclosed amount. This strategic acquisition significantly expands Volatus Aerospace's market reach and operational capacities within the drone services industry. ConnexiCore LLC, based in the US, specializes in providing commercial drone services and solutions for the real estate industry.
Major companies operating in the real estate drone services market are Multivista Systems LLC, Terra Drone Corporation, Aerodyne Group, Dronedeploy Inc., Cyberhawk Innovations Limited, Precision Hawk Inc., Drone Dispatch Inc., Firmatek LLC, Sky-Futures Ltd., EagleHawk LLC, Edall Systems LLC, FLIGHTS Inc., Construction Drone Services Ltd., RUAS Corp., Identified Technologies Inc., Airware Inc., Aerial Drone Services Inc., Aerial Vision Ltd., AERIUM Analytics, Aerolion Technologies, Drone Base Inc., Martek Aviation Corp., Drone Services Canada Inc., Dronegenuity LLC, DJM Aerial Solutions, Aerotas LLC
North America was the largest region in the real estate drone services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real estate drone services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the real estate drone services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The real estate drone services market includes revenues earned by entities through services such as videography, virtual tours, security and surveillance, environmental assessment, and land development planning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Real Estate Drone Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on real estate drone services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for real estate drone services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real estate drone services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.