Aerial Imaging Market to Expand at a CAGR of ~14% | 2024-31, as COVID-19 Pandemic Continues to Expand Quickly

Construction, Roofing, Solar Industries Pump Revenue Flow During Coronavirus Crisis

Aerial imaging has benefitted the construction industry during the coronavirus pandemic. Construction, roofing, and solar industries have been augmenting the advantages of aerial imaging for contracted surveying, onsite inspections, and design planning applications. This signals that the aerial imaging market is one of the few markets, which has not been severely affected by the COVID-19 crisis.

Detailed 3D (3 Dimensional) geographic mapping and automation have facilitated roofing, solar, and government contractors to conduct business reliably with fewer personnel onsite. Companies in the aerial imaging market are taking advantage of the need for detailed prospecting from a distance for roofers and solar installers in order to obtain accurate measurement down to a pixel. An increase in surveying speed has been achieved with aerial imaging, whilst maintaining the safety of workers and employees.

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Privacy Concerns of Citizens about Data Collection by Drones Causes Stir

Recently, Amazon Prime Air, a drone delivery system was in talks for a future of package deliveries in 30 minutes or less. However, numerous consumers, states, and regulators believe that sanctioned UAVs (Unmanned Aerial Vehicle) can be potentially detrimental. This is anticipated to hamper the growth of the aerial imaging market.

Several countries have passed their own laws on drone usage for commercial, recreational, and public use. The widespread use of drones is raising privacy concerns among citizens who are nervous about corporate and government data collection. Hence, companies in the aerial imaging market are increasing awareness about testing and research of UAVs in order to comply with drone regulations.

Drone Technology Combined with AR Creates Lucrative Opportunities for Indian Sports

The need for audience engagement has led to drone-based augmented reality (AR) production to enliven sports. Companies in the aerial imaging market such as Quidich Innovation Labs is gaining recognition for its drone-based AR production solution for transforming the Indian Premiere League (IPL) and Men’s Hockey World Cup, among others.

Since the drone technology is still in its nascent stage in India, stakeholders in the aerial imaging market are tapping into lucrative opportunities in this country. Sports being an integral part of entertainment in India is estimated to witness the rise of the drone technology to make live production from the sky in an affordable and efficient way. Moreover, the AR technology is adding a new dimension to live stream and broadcast sports matches.

UAV Tech with Image Data Analytics Helps Achieve Precision Farming

Climate change has introduced significant challenges that are affecting the agriculture sector. Adoption ad utilization of Information and Communications Technology (ICT) services such as the use of Internet of Things (IoT), UAVs, and Wireless Sensor Networks (WSNs) is predicted to solve the challenges in the agriculture industry. Such trends are giving rise to the concept of precision agriculture, and is translating into incremental opportunities for companies in the aerial imaging market.

Aerial crop monitoring and smart spraying tasks for pesticides and fertilizers are bringing about significant changes in the global agricultural industry. Companies in the aerial imaging market are increasing the availability of the UAV technology with image data analytics to help achieve precision agriculture and meet the global demand for food supply.

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High Resolution Aerial Images, Data of Damaged Structures Assist Insurance Companies

High-resolution imagery has become the need of the hour for insurance companies. Geospatial Insurance Consortium (GIC) is capitalizing on this opportunity to provide high-resolution aerial images and maps for property insurance claims and has been helpful when wildfires raged in Oregon, California, Washington, and Montana in September 2020.

The increasing number of wildfire disasters and natural calamities is acting as key driver of the aerial imagery market. Such mishaps have fueled the demand for high-resolution aerial images and data of damaged structures. Service providers are taking efforts to deliver property-by-property view of disaster devastations to insurance companies.

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