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Aerial Imaging Market is Estimated to Witness High Growth Owing to Increasing Use of Drones for Agricultural Application

CALIFORNIA, UNITED STATES, December 1, 2023 / -- Market Overview:

Aerial imaging involves capturing photographs of the Earth's surface from an elevated perspective using unmanned aerial vehicles (UAVs), aircraft, balloons, and other airborne platforms. It is used for agricultural monitoring, surveillance, mapping, and other applications.

Market Dynamics:

The aerial imaging market is expected to witness significant growth over the forecast period owing to increasing use of drones for agricultural applications. Drones help farmers monitor crop health, detect diseases and estimate yields. They provide high-resolution images that allow farmers to examine crops from above and identify issues early. Drones equipped with cameras, sensors and software are being used to generate actionable crop insights. Furthermore, increasing acceptance of aerial imaging in mapping and surveillance applications is another factor driving the growth of this market. Regulators in several countries have eased restrictions on commercial drones, fueling adoption.

According to Coherent Market Insights study, The global Aerial Imaging market is estimated to account for US$ 6,085.9 million by 2027

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Reduced Technology Cost Driving Adoption of Aerial Imaging

The cost of drones and cameras have reduced dramatically in the last few years due to advancement in technology and increased competition in the market. Drones which were earlier costing thousands of dollars can now be purchased for under $1000 with high resolution cameras. Similarly, the camera technology has also improved significantly without any substantial increase in prices. This reduction in technology cost has made aerial imaging affordable for variety of new applications and industries. Real estate, agriculture, insurance and construction companies are actively using aerial imaging to streamline their operations and extract useful insights. The lower barrier to entry has also given rise to many new startups offering aerial imaging as a service. Overall, reduced technology cost has been a major driver for increased adoption of aerial imaging across different sectors.

Need for High Quality Data Driving Automation with Aerial Imaging

With growing competition and rising customer expectations, enterprises across industries are under pressure to improve their operations and decision making. High quality and real-time data has become critical to gain insights, automate processes and enhance customer experience. Traditional methods of collecting data are often time-consuming, expensive and provide outdated information. Aerial imaging using drones and computer vision technology is emerging as an effective way to automate data collection at scale. Industries like agriculture are using aerial images captured through drones to automate crop health monitoring, yield estimation and other tasks. Insurance companies are leveraging aerial data to automate claims processing. Construction firms also use aerial photography to track project progress without manual site visits. This growing need for automation and high quality real-time data is a key driver for increased spending on aerial imaging solutions.

Regulatory Uncertainty a Restraining Factor

Despite the benefits, regulatory uncertainty continues to restrain the growth of commercial drone market and by extension aerial imaging sector. Drone regulations differ widely across countries and are evolving constantly posing operational challenges. Areas like privacy, security, no-fly zones need better defined global regulations. Obtaining flight permissions and complying with regulations increases compliance costs especially for operations spanning multiple locations. While regulations are becoming more flexible, regulatory uncertainty introduces delays in deployment and deters new applications. Current piecemeal approach to regulations fail to provide long term clarity, discouraging investments in technology and infrastructure development. Overcoming regulatory challenges through well-defined rules will be crucial to realizing full potential of aerial imaging industry.

Opportunity for Using Aerial Data in AI and Analytics

Aerial images contain rich visual data that can be analyzed using computer vision and deep learning techniques. Technologies like AI, machine learning and analytics provide opportunities to extract useful information hidden in petabytes of aerial imagery data. Industries are already leveraging computer vision to automate inspection of infrastructure, agriculture fields for yield estimation. Insurance sector uses aerial data combined with AI for faster and accurate damage assessment. AI capabilities are also being used to detect unauthorized activities, environmental hazards through analysis of aerial videos and images. With advancement in AI, more use cases are expected to emerge across sectors. This presents a huge opportunity for aerial imaging providers to offer AI and analytics as value-added services on top of core imaging solutions.

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Geospatial Data Analytics Driving Location Intelligence Applications

Location or geospatial data has immense potential to provide insights through analytics. Aerial images captured through drones offer rich geospatial context. Analytics of temporal aerial data combined with other data sources allows monitoring changes to infrastructure, environment or landscape over time. This geospatial capability is finding diverse applications in industries like urban planning, environmental protection and smart city projects. Utilities can map energy infrastructure, telecom map network coverage. Governments use geospatial intelligence for risk management, emergency response. Commercial applications include monitoring construction sites, open-pit mining operations. Emerging technologies like augmented reality, virtual reality are leveraging geospatial capabilities of aerial data. This rising demand for location intelligence solutions through geospatial data analytics is an important trend for aerial imaging market.

The major players operating in the market include:

➱ Google Inc.
➱ Kucera International Inc.
➱ NRC Group ASA
➱ GeoVantage Inc.
➱ Fugro N.V.
➱ Landiscor Real Estate Mapping
➱ Digital Aerial Solutions LLC
➱ Cooper Aerial Surveys Co.
➱ Nearmap Ltd
➱ EagleView Technologies Inc.

These companies are focusing on new product development, partnerships, collaborations, and mergers and acquisitions to increase their market share and maintain their position in the market.

Detailed Segmentation

Global Aerial Imaging Market, By Application:

◘ Energy
◘ Geospatial Technology
◘ Natural Resources Management
◘ Construction & Development
◘ Disaster Response Management
◘ Defense & Intelligence
◘ Conservation & Research
◘ Media & Entertainment

Global Aerial Imaging Market, By End-use Industry:

◘ Government
◘ Commercial Enterprises
◘ Civil Engineering Industry
◘ Military
◘ Forestry & Agriculture
◘ Energy Sector
◘ Insurance

Market segment by Region/Country including:

- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America (Brazil, Argentina and Colombia etc.)
- Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)

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Frequently Asked Questions (FAQs):

➱ What are the key factors hampering growth of the Aerial Imaging market?
➱ What are the major factors driving the global Aerial Imaging market growth?
➱ Which is the leading component segment in the Aerial Imaging market?
➱ Which are the major players operating in the Aerial Imaging market?
➱ Which region will lead the Aerial Imaging market?
➱ What will be the CAGR of Aerial Imaging market?
➱ What are the drivers of the Aerial Imaging market?

Mr. Shah
Coherent Market Insights
+1 2067016702
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