Due to the surging demand for unmanned aerial vehicles (UAVs) or drones in the defense & security industry, their mushrooming use for tracking and monitoring the movement of people, and the soaring requirement for drone analytics solutions in several commercial applications, the global drone analytics market reached $2,614.3 million revenue in 2019.

Furthermore, the market will progress at a CAGR of 29.8% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. Owing to their ability to monitor large areas easily, drones are being increasingly used in the defense & security industry. The military and homeland departments of many countries are using drones for tracking and monitoring suspicious movements, especially near the borders, and bolstering security and surveillance at several vulnerable intrusion points.

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Additionally, with the increasing defense budget of many countries such as Russia, China, the U.S., and Saudi Arabia, the use of drones and other UAVs is growing, which is, in turn pushing up the requirement for drone analytics solutions. For instance, the U.S. Department of Defense made an allocation of $6.97 billion during the Financial Year 2018 for augmenting the procurement of drones and various associated technologies.

This budget was 21% higher than the one allocated during the previous fiscal year. Apart from this factor, the growing need for intelligent photogeometry software is also creating lucrative growth opportunities for the market players. The software was made for use with various UAVs and thus, aids in developing 3D models and maps, capturing images, and processing data.

This market research report provides a comprehensive overview of the market

* Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings