Market Forecast
Global Drone Telematics Market is projected to grow at a 6.8% CAGR between 2020 and 2026. The increasing use of drones for countering internal and external security threats is primarily driving the growth of the market. Furthermore, increasing the demand for drones for border monitoring is driving the growth of the market.
Market USP
Drone telematics help increase the operational efficiency of the drone fleet of the military and commercial end-users.
Growth Opportunities in the Market
• Quadcopters segment accounted for the largest market share in 2019: The quadcopters segment is expected to grow with the highest CAGR during the forecast period, 2020 to 2026. A quadcopter is a type of rotary drone that is lifted and propelled by four rotors. Quadcopters have simple controls and can also hover as required. Furthermore, quadcopters have more lifting power and can carry a slight payload than other types of drones. Such factors are expected to drive the growth of this segment in the global market during the forecast period.
• The long-range segment is expected to witness a higher growth in the market: The long-range segment is expected to grow significantly during the review period. This growth can be attributed to the increasing demand for drones with high endurance by the military and commercial end-users and substantial investments in the development of drone telematics solutions for long-range drones.
• The medium-range segment is expected to register the highest CAGR during the forecast period, primarily due to the increasing use of medium-range drones for recreational photography & videography, drone racing, fishing, and hunting & wildlife monitoring.
• The embedded segment is expected to register the higher growth in the market: The embedded segment is expected to grow with a high CAGR during the review period. This can be attributed to the increasing use of embedded systems in drone telematics, globally.
• The commercial segment is expected to register the highest growth in the market: The commercial segment is expected to grow with the highest CAGR during the review period. This can be attributed to the increasing use of drones for commercial applications, such as mapping & surveying, climate & pollution monitoring, and logistics & transportation.
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Key Players
• Octo Telematics (Italy)
• Verizon Telematics Inc. (US)
• EnVue Telematics, LLC (US)
• DJI (China)
• vHive Ltd. (Israel)
• Google LLC (US)
• Nokia Corporation (Finland)