The Global Drone Data Services Market is anticipated to grow at a significant CAGR of 27.6% during the forecasted period (2024-2031). The market growth is attributed to the increasing need for drone information analysis amongst businesses globally to perform various critical tasks remotely, such as automated mapping, cadastral surveying, corridor surveying, volumetric calculations, and Light Detection and Ranging (LiDAR) mapping. The rising demand for industry-specific solutions and the increasing demand for time-efficient delivery along with the growing initiative from governments and regulatory bodies are driving the growth of the drone service market.
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The drone technology in Indian agriculture is at an initial stage; however, due to the possible benefits of this technology, the government is trying to promote the adoption of drones in agriculture by working with agri-tech start-ups, the private sector, academicians, and farmers. The growing demand for precision farming propels the agricultural industry and expands the drone services market. With drone technology in logistics, shipping & operational costs are reduced, delivery speed is high and a hassle-free return is possible. Agricultural drones serve the whole purpose of farmers in soil and field analysis, seed planting, crop spraying, crop mapping & surveying, irrigation monitoring, and real-time livestock monitoring.
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Key Developments in the Global Drone Services Market
- The Drone Data Services Market is driving forward due to government initiatives globally to support drone services in agriculture. For instance, In December 2023, the government announced it had approved an outlay of $151.9 million for the period from 2024-25 to 2025-26 for the scheme. Under this scheme, drones will be provided to 15,000 women’s SHGs during the period 2023-24 to 2025-2026 to provide rental services to farmers for agriculture purposes.
- Mergers and acquisitions by big market players across the market are fueling the market growth for the global drone services market. For instance, in September 2023, Terra Drone Corporation acquired Avirtech, an agricultural drone manufacturer. The acquisition provided Terra Drone with access to Avirtech’s crop intelligence technologies, which would enable it to provide its customers with solutions for improving productivity.
- Brands are collaborating to bring innovative technology and solutions is propelling the growth of the global drone services market. For instance, in September 2023, Sentera, Inc. came into partnership with Freefly Systems, a US-based UAV manufacturer, to integrate its 65R HD resolution sensor with Freefly Astro. The partnership led to the creation of an industry-leading agricultural drone offering.
The major companies serving the global drone data service market include PrecisionHawk, DroneDeploy, Terra Drone Corporation, Pix4D SA, and Drone Deploy Inc. and others. The market’s existing and new players are considerably contributing to the market growth through adopting various strategies including collaborations, and funding, to stay competitive in the market. Furthermore, governments globally are also supporting and initiating various moments in the global drone data service market.
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