Overview and Scope
Real estate drone services refer to using unmanned aerial vehicles (UAVs) to offer numerous services relating to the real estate market, such as capturing aerial images and videos of properties. These services are generally used by real estate brokers, property developers, architects, and homeowners to exhibit properties from different perspectives, emphasize highlights, and provide potential buyers or tenants with extensive views of the property and surrounding area.
Sizing and Forecast
The real estate drone services market size has grown rapidly in recent years. It will grow from $0.42 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to increased demand for aerial imagery and mapping services, cost efficiency and time-saving benefits, enhanced property marketing and visualization, improved safety and risk mitigation, regulatory support and compliance, growing adoption by real estate agencies and developers, rising awareness and education among industry professionals.
The real estate drone services market size is expected to see rapid growth in the next few years. It will grow to $0.96 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to expansion into new applications such as property inspection and monitoring, demand for 3d modeling and digital twins in real estate, market penetration in emerging economies, strategic partnerships with real estate firms and construction companies, regulatory evolution to accommodate drone operations, increased focus on sustainability and environmental impact assessment in real estate projects. Major trends in the forecast period include increasing demand for aerial photography, expansion of services for property inspection, integration of 3D mapping capabilities, adoption of thermal imaging, growth in demand for site analysis, adoption of drone technology for appraisal.
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Segmentation & Regional Insights
The real estate drone services market covered in this report is segmented –
1) By Service: Mapping And Surveying, Inspection, Photography And Filming
2) By Platform: Operator Software, Cloud-Based
3) By Customer Type: Commercial, Residential
North America was the largest region in the real estate drone services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real estate drone services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the construction industry is expected to propel the real estate drone services market going forward. The construction industry refers to the sector of the economy that involves buying, selling, leasing, or managing land, buildings, and other structures. It encompasses a wide range of activities, including residential, commercial, and industrial real estate transactions. The surge in the construction sector can be attributed to rising housing demands, favorable mortgage rates, and a strong economy fueling demand for property investments. Drones can be utilized for remote monitoring, security, and maintenance during the construction process. They aid in cost-cutting, increasing efficiency, and streamlining processes. For instance, in January 2024, according to the U.S. Census Bureau, a US-based principal agency of the federal government, approximately 668,000 new homes were sold in 2023, indicating a 4.2% rise compared to the previous year’s total of 641,000 units. Furthermore, in April 2023, according to reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. Therefore, the rise in the construction industry is driving the growth of the real estate drone services market.
Key Industry Players
Major companies operating in the real estate drone services market are Multivista Systems LLC, Terra Drone Corporation, Aerodyne Group, Dronedeploy Inc., Cyberhawk Innovations Limited, Precision Hawk Inc., Drone Dispatch Inc., Firmatek LLC, Sky-Futures Ltd., EagleHawk LLC, Edall Systems LLC, FLIGHTS Inc., Construction Drone Services Ltd., RUAS Corp., Identified Technologies Inc., Airware Inc., Aerial Drone Services Inc., Aerial Vision Ltd., AERIUM Analytics, Aerolion Technologies, Drone Base Inc., Martek Aviation Corp., Drone Services Canada Inc., Dronegenuity LLC, DJM Aerial Solutions, Aerotas LLC
The real estate drone services market report table of contents includes:
1. Executive Summary
2. Real Estate Drone Services Market Characteristics
3. Real Estate Drone Services Market Trends And Strategies
4. Real Estate Drone Services Market – Macro Economic Scenario
5. Global Real Estate Drone Services Market Size and Growth
…
32. Global Real Estate Drone Services Market Competitive Benchmarking
33. Global Real Estate Drone Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Real Estate Drone Services Market
35.Real Estate Drone Services Market Future Outlook and Potential Analysis
36. Appendix
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