Drone Photography Services Market to Rise at a CAGR of 18.7% to Reach 4.07 Billion by 2034 | Fact.MR
Rockville, MD, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, through its recently updated market analysis, reveals that revenue from drone photography services is projected to reach US$ 733.1 million in 2024. The global drone photography services market has been forecasted to climb to a size of US$ 4.07 billion by 2034-end.
Drone photography services are utilized at a noteworthy rate for mapping and surveying purposes for their features in gathering more precise graphical data. They play a significant role in conducting topographic surveys, designing detailed maps, and creating certain complex 3D models.
North America is projected to hold more than one-third share of the global market owing to the presence of a well-established IT infrastructure. Moreover, the presence of a favorable regulatory framework by the Federal Aviation Administration is also stimulating demand for drone services in several industries, such as media, construction, real estate, and agriculture for improving efficiency and minimizing operational prices.
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Key Takeaway from Market Study
- The market for drone photography services is projected to expand at a CAGR of 7% from 2024 to 2034.
- Worldwide demand for drone photography services in the commercial sector is approximated to increase at 5% CAGR and reach a market valuation of US$ 2.73 billion by 2034-end.
- Demand for photography services in South Korea is analyzed to advance at a CAGR of 5% CAGR through 2034.
- Drone photography services in construction projects are forecasted to hold 5% share of global market revenue by 2034.
- Demand for drone technology in Japan is analyzed to accelerate at a CAGR of 5% through 2034.
- North America is evaluated to account for 9% of the global market share by the end of 2034.
“Growing investments by companies in advancements taking place in image analysis and processing tools for more accurate and faster data extraction from drone footage is stimulating demand for drone photography services for several applications, such as disaster response, construction monitoring, and precision agriculture,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Drone Photography Services Market:
Leading companies in this market are AiriNov, 3DroneMapping, Aerial Robotix, DJI, AerialWorks Inc., Yuneec, AERIUM Analytics, CyberHawk, AeroMedia Group, DDC Smart Inspection, Aivia Group, DroneView Technologies LLC, Cloud 9 Creative, Artrabia, Drone Dispatch, Astral Aerial Solutions, Parrot, AUAV, Visual Drone Production LLC, DC Geomatics, Avian UAS, DATA PKT Aviation, PrecisionHawk, DJM Aerial Solutions, Falconviz, and Aeroworks Productions.
Accelerating Demand for Drone Photography in Construction Projects to Ensuring Workers' Safety and Making Informed Decisions
Global demand for drone photography services for use in the construction sector is analyzed to increase at a CAGR of 18.1% and reach a value of US$ 915.9 million by 2034. Drone technology is utilized in aerial surveying and mapping purposes in construction projects. It enables construction managers to use videos for monitoring on-site work at hazardous locations to ensure the safety of workers. Drone photography also helps in capturing real-time data and images for tracking project progress, making informed decisions, and identifying potential issues.
Drone Photography Services Industry News:
- In July 2024, Visual Drone Production LLC developed new methods for aerial photography with the goal of improving its real estate marketing services in the Southeast United States. These services are intended to offer real estate brokers and owners a competitive advantage by exhibiting their properties from distinctive aerial viewpoints.
- In May 2023, Capgemini and IBM expanded their collaboration to improve their DaaS (Drone-as-a-Service) products. The goal of this partnership is to provide all-inclusive fleet management and monitoring solutions for drones, which are utilized for a variety of purposes, including data collection and inspections.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the drone photography services market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on drone type (fixed-wing, rotary-wing, hybrid), service (photography, monitoring, videography, inspection, mapping & surveying), end user (residential, commercial), and end-use industry (energy, construction, entertainment & recreational), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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