The Latin America, Middle East and Africa Drone Data Services Market would witness market growth of 41.6% CAGR during the forecast period (2023-2030).
The need for UAV imagery analysis is predicted to grow, favouring the regional drone imagery processing software sector, and bringing new directions for image storage technologies. The expanding use of drones in commercial sectors is causing a revolution in cloud services for big data. Positive policy and regulatory framework modifications, such as the FAA's updated in-flight drone flight regulations, increase demand for data services. Increased technological advancements in artificial intelligence and machine learning for commercial drones will create new market expansion opportunities.
Drones are becoming smaller, lighter, and more dependable, allowing them to perform various duties. Drones are gaining popularity due to their benefits, such as increased efficacy, cost-effectiveness, and safety. The growing use of drones is making it simpler to automate and control them due to software and artificial intelligence developments. Additionally, drones are employed in search and rescue, disaster assistance, and environmental monitoring.
The rising demand for aerial inspection and surveying services fuels the market's expansion. Numerous industries, including agriculture, construction, and energy, require routine inspections of their assets and infrastructure. Drones offer an efficient and cost-effective solution for these industries, as they can cover large areas swiftly and safely, decreasing the need for manual labour and the risk of accidents. In addition, Advanced Air Mobility (AAM) and Urban Air Mobility (UAM) are anticipated to drive market growth.
According to ITA, Saudi Arabia has established a mining fund that plans to invest up to $15 billion in overseas assets to reduce its reliance on fossil fuels. Moreover, as the Kingdom seeks to wean its economy from oil production and exports, mining is becoming an increasingly important aspect of Saudi Arabia's economic development, after energy and petrochemicals. The adoption of drone data services is helping companies in the industry streamline their operations, improve safety, reduce environmental impact, and optimize resource use. Due to the abovementioned factors, the drone data services market will grow significantly in the LAMEA region.
The Brazil market dominated the LAMEA Drone Data Services Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $229.6 Million by 2030. The Argentina market is exhibiting a CAGR of 42.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 41.2% during (2023 - 2030).
Based on Type, the market is segmented into Mapping & Surveying, Photogrammetry, 3D Modeling & Digital Elevation Model (DEM), and Others. Based on End-use, the market is segmented into Real Estate & Construction, Mining, Agriculture, Oil & Gas, Renewables, and Others. Based on Platform, the market is segmented into Operator Software, and Cloud-Based. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Drone Data Services Market is Projected to reach USD 13.3 Billion by 2030, at a CAGR of 38.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 4DMapper, Dronecloud, DroneDeploy, Inc., Pix4D SA, PrecisionHawk, Inc. (Field Group AS), Sentera, Inc., Skycatch, Inc., Terra Drone Corporation (Terra Motors Corporation), Cyberhawk Innovations Ltd., Australian UAV Pty Ltd
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By End-use
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