The State of the Drone Market 2020: What’s Holding YOU Back?
Are you fully aware of just how dramatically your business insight can change through advanced forms of aerial insight?
Maybe not – our experience at LI&D with the many exploratory calls we receive is that many companies are curious as to what they can do with drone and GIS based insight, but don’t really have a plan. Due to the lack of an understanding of the ROI, they never really go ahead – and miss out on huge opportunities for powerful insight.
This was confirmed to us when we came across the recently released report from Drone Deploy, a leading software platform for the industry – “The State of the Drone Market 2020: Scale and Growth”
The observations are compelling.
For example, “an MIT study, found that 63% of companies are too slow to change their technology capabilities.”
We call this the “opportunity – understanding mismatch” and echoes what we see. The opportunities that exist for effective use of drone based aerial insight far outstrip the understanding that people have of what’s possible!
The report goes on to note clear benefits to those who have jumped on board, however:
“Farmers are gaining a more comprehensive view of plant health through drone imagery. Construction companies are monitoring project progress in real-time, detecting and correcting errors before they become worse.”
Facilities and maintenance teams use thermal imagery to catch water leaks
in roofs and to prioritize building repairs. Mining companies leverage drone software to gain better stockpile analysis so they can accurately predict inventory. Oil & Gas companies are able to monitor and inspect facilities without shutting off production. Commercial and residential solar companies can identify non-functioning panels and get them back up and running.
But the report then goes on to note:
The use cases for drone software are wide-ranging. And yet, the unifying theme of drone software is that it provides unparalleled intelligence, insights, and transparency to businesses, which in turn empowers them to work faster, smarter, and safer.
Those who are onboard. their convinced – in fact, they are going to invest more going forward!
In fact, a recent DroneDeploy survey of more than 140 customers found that 53% of respondents expected to increase their spend on drones and drone software in 2020, compared to just 4.9% who thought it would decline. Clearly, they’re seeing value from drone software.
But here’s the kicker – most companies followed a simple path into this new world – try it out, learn from it, realize the benefits – and then commit in a big way!
Companies at the leading edge usually start their drone journey with one team member purchasing a drone, mapping a site, and showing data to their colleagues. This can then trigger a decision-maker to adopt a more formal proof of concept (POC). This steady progression or “land and expand” approach for drone companies can lead to huge adoption across teams and departments.
What’s the lesson for you? Here at LI&D, we are busy rolling out a series of ‘starter packages’ or exploratory flights to help you discover this powerful, magical new world. Stay tuned – announcements coming soon!