Drone Software Market to Reach Valuation of $13.15 Million by 2028

SkyQuest Technology Consulting Pvt. Ltd. | Yahoo! Finance

Global drone software market was valued at USD 4.2 million in 2021, and the market size is estimated to reach USD 13.15 million by 2028, at a CAGR of 17.1% over the forecast period (2022–2028).

Westford, USA, Oct. 27, 2022 (GLOBE NEWSWIRE) — The rapid growth of global drone software market is being driven principally by the demand for drones for industrial and commercial applications, as well as amateur users who are capturing stunning footage of landscapes and wildlife. Drones are becoming an increasingly popular tool for exploring new areas, filming events or delivering goods.

The key drivers of this growth of the drone software market are likely going to be military applications (86%) and commercial applications (14%). Notably, there is now widespread adoption of drones for industrial purposes (72%), which is likely due to their high precision and efficiency. In addition, drones are becoming increasingly affordable, with prices dropping by 50% from 2015 to 2021.

There are now more than 1,000 different models available, making it an extremely versatile technology. This has made it particularly popular for tasks such as mapping, surveying, and monitoring. SkyQuest also notes that drone software market will play a significant role in future business ventures. Our study says companies that have adequate drone technology can save money on operation costs, time, and resources. They can also improve performance and efficiency by using drone software for tasks such as aerial photography and data collection.

As the market for drones continues to grow, companies are developing increasingly sophisticated software applications to enable them to fly efficiently and manage their data operations. Some of the leading companies in this field include DJI, AirMap, and Drone Deploy Inc.

Looking ahead, SkyQuest predicts that advances in machine learning and artificial intelligence will play an important role in enabling drones to become even easier to operate. So as businesses continue to invest in drone technology, it’s clear that there is plenty of opportunity for developers in the global drone software market who are able to create innovative software applications that meet consumers’ needs.

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Key Challenges in Drone Software Market

One of the biggest challenges for the software industry is that there are no definitive standards for drone software, which can make it difficult for firms to get products approved for use by regulators and customers. To overcome this obstacle, some companies are focusing on creating platform-agnostic software applications that can be used by multiple drone manufacturers.

Another challenge facing the drone software market is that it’s still relatively new and lacks widespread adoption. This could lead to disruptions as players enter or exit the market, but so far, SkyQuest says most companies are profiting significantly from the growing market opportunity.

The sizable market potential for the drone software industry is clear, and organizations that stay ahead of the curve will benefit greatly from this burgeoning trend. By understanding how these different areas of growth are likely to play out, organizations can position themselves for future success.

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Automation is Strengthening its Roots in Global Drone Software Market

From the last few years, the global market is witnessing a significant growth due to increasing demand for drones for commercial and civilian applications, such as surveillance and mapping.

One of the main challenges for the drone software market is automating the various tasks involved in drone operations, such as flight planning, navigation, payload delivery, and tracking. There are a number of different automation tools available for use in this field, including artificial intelligence (AI) and machine learning (ML).

Wherein, one of the most popular AI systems used in the drone software industry is OpenAI’s neuromorphic computer vision (NCCV) system. NCCV is an open-source platform that can be used to develop computer visions models with deep neural networks (DNNs). DNNs are powerful AI systems that can learn complex tasks by observing large amounts of data.

Another popular tool used in the drone software market is DroneDeploy’s DroneDeploy Enterprise Edition (DE). DE allows users to automate many tasks involved in drone operation, including flight planning, mission execution, mapping/surveillance processing, and payload delivery. DE also has features that allow users to customize their own automated processes.

With drone software automation becoming a norm in the industry, companies can save time and money while still maintaining high quality drone software. Robotics firms are already using automated testing tools to speed up the process of creating software for drones, but there is still plenty of room for improvement. Testing should be done on an iterative basis, not just once the software has been completed. This will allow for earlier detection of problems and faster resolution times.

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In addition to testing, another area where automation can help is with documentation in the drone software market

Creating accurate and concise documentation is key in ensuring that everyone working on a project understands what they’re doing. However, it’s often a time-consuming process that can be hampered by lack of manpower or skill set. Automation can help reduce this burden by automating the process of gathering requirements and documenting them automatically. This way, everyone involved in a project is aware of what needs to be done from the start and there’s no need for manual intervention.

Key Developments in Drone Software Market

  • In October 2022, Garuda Aerospace, an Indian start-up, signed MoU with Lockheed Martin CDL Systems. This MoU would allow the later company to make use of its UAS software solutions for commercial and defense drones.

  • In October 2022, Pearson International Airport deployed drones equipped with AI for runway inspection.

Key Players in the Global Drone Software Market

  • DJI (China)

  • ESRI (US)

  • Pix4D SA (Switzerland)

  • Drone Deploy Inc. (US)

  • Precision Hawk, Inc. (US)

  • Skyward IO (US)

  • Yuneec (China)

  • AirMap Inc. (US)

  • Delair (France)

  • Sky-Future Ltd. (UK)

  • Kespry (US)

  • DroneBase Inc. (US)

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