Rapid Growing Adoption of Real-Time Devices in Construction Sector
- The UAVs (unmanned aerial vehicles) or drones can play a key role in monitoring and analyzing of construction activities, wherein they can considerably improve and enhance the performance and speed of operations. Drones can be potentially employed at a number of stages in a construction project such as pre-planning, construction process monitoring, detailed survey and mapping of the construction site, and post-build checks.
- Likewise, drones can also perform as real-time devices for developers to monitor if their construction project is compatible to their concept or not. Additionally, the information obtained through drones can help planners and construction companies to plan out the entire construction site and keep a track of their inventory. This is anticipated to increase the adoption of drone-based solutions in construction market in near future.
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Key Drivers of Drone-based Solutions in Construction Market
- Increasing focus on investments in the construction sector is influencing the adoption of technological innovations and increasing pace of the global drone-based solutions in construction market. For instance, the Ministry of Road Transport and Highways of the Government of India invested around US$ 77 Bn in construction schemes in 2017. Additionally, the U.K. Government has announced to invest nearly US$ 510.68 Mn in innovative construction technologies to boost house-building productivity of the country. This is likely to contribute in the growth of drone-based solutions in construction market.
- These investments would help the construction sector to adopt drones or unmanned aerial vehicles (UAVs) with the help of cameras and sensors. Drones or unmanned aerial vehicles have emerged as a cost-efficient solution for constructors to obtain accurate real-time data through 3D mapping. Thus, rapidly increasing investments in the construction sector are augmenting the adoption of drone-based solutions across the global construction sector.
Limited drone operation bandwidth restraining the drone-based solutions in construction market
- Drones usually require wireless connectivity for communication between drones and ground control systems as well as between drones and air traffic management systems to capture appropriate data. Thus, lack of connectivity or limited bandwidth connection can hamper the efficiency of drones. Limited drone operation bandwidth is a major factor restraining the global drone-based solutions in construction market.
Europe to Hold a Major Share of Global Drone-based Solutions in Construction Market
- In terms of region, the global drone-based solutions in construction market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is expected to hold a major share of the global drone-based solutions in construction market during the forecast period, as the region is witnessing rapid technological advancements in drones and deployment of drones with features such as hyperspectral and thermal sensors to capture the view from drones
- On the other hand, Asia Pacific is expected to be a rapidly expanding region of the global drone-based solutions in construction market, due to increasing investments in infrastructure development in the region. China and India are key markets for drone-based solutions for construction in the region.
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Global Drone-based Solutions in Construction Market: Competition Landscape
- In February 2018, Identified Technologies introduced its new drone mapping analytics features for use in various industry verticals such as mining, construction, and energy. These new features include haul road analysis, slops maps, plan IQ camera view, and enterprise site permission.
- In June 2018, DroneDeploy raised US$ 25 Mn in a Series-C round of funding to help drone operators capture and analyze aerial data for use in construction, mining, agriculture, and insurance sectors
- In August 2017, 3D Robotics signed a partnership agreement with DJI Drones (a China-based technology company) to focus on enterprise software with an aim to help construction and engineering sectors manage their building sites and operations. The partnership would help the company expand its product portfolio and gain a market share in the Asia Pacific market.
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