Drone Consolidation Is Coming Amid Growth

Drones are becoming more common on construction jobsites—and that trend is going to continue to grow at a very rapid pace in the next few years.

IDC anticipates that worldwide drone spending will continue to grow at a faster rate than the overall market. Enterprise drone solutions, specifically, will deliver more than half of all drone spending. The industries that will see the largest drone spending are utilities and construction.

This is evidenced by a number of new product and partner announcements that are transforming how drones are used at the construction jobsite.

Collaborations Bring New Solutions

One example comes from Atlas Dynamics, which is a provider of drone solutions. The company has entered into a partnership with Luxriot, a provider of video management software. Together, the companies will collaborate on new technology for drones.

When hardware and software providers come together to offer a new solution, the outcome is often greater capabilities for construction companies.

Another example of a new announcement that is impacting the drone market is many of the drone companies are receiving funding from venture and strategic investors that recognize the market is ripe for innovation.

One such case comes from PrecisionHawk, which recently received $75 million. With the funding, the company plans to build upon its existing commercial drones and apply capital to expand its product innovation and make strategic acquisitions.

The market is currently diluted with hundreds of drone players in the market, but likely will consolidate in the months ahead. Will only a few key companies emerge as the leading players in the drone space? Time will tell.

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