Real Estate Drone Services Market

Real Estate Drone Services Market Outlook (2023-2033)

The global real estate drone services market is expected to reach a valuation of US$ 398.9 million in 2023 and is predicted to accelerate at a CAGR of 17.3% to top a market size of US$ 1,967.3 million by 2033.

The real estate drone services market accounts for over 5% of the total drone service market with total revenue of about US$ 6,600 million in 2022. Considering the gigantic global market value of the real estate, real estate drone services have ample opportunity to capture. 

Report Attributes	Details
Market Size (2022A)	US$ 340.0 Million
Estimated Market Value (2023E)	US$ 398.9 Million
Forecasted Market Value (2033F)	US$ 1,967.3 Million
Global Market Growth Rate (2023-2033)	~17.3% CAGR
North America Market Share (2022)	~42.0%
East Asia Market Growth Rate (2023-2033)	~18.3% CAGR
United States Market Growth Rate (2023-2033)	~17.3% CAGR
Key Companies Profiled	Aerial drone solution Aerial Vision Ltd AERIUM Analytics Aerodrome Aerolion Technologies DJM Aerial Solutions Drone Base Drone Dispatch Drontek Aerial Solution DDC Smart Inspection EagleHawk Firmatek Multivista Construction Drone Services UAVISIONARY RUAS

Rising real estate industry worldwide

The significant rise in the real estate industry worldwide will escalate the demand for real estate drone services. The real estate drone service providers offer certain services like mapping & surveying, inspecting, and photography & filming.

It plays an essential role in capturing photos and videos of real estate which could be helpful in the marketing of the property. Also, it showcases the areas and environment surrounding the properties. This is beneficial to appeal to buyers for the property.

Buyers or contractors hire real estate drone services to inspect the building and its overall condition with the help of drone inspection services. Whereas, while constructing any property mapping & surveying services are provided by the real estate drone service providers to have clear insights regarding the length of the building, tracking & monitoring the equipment and entire construction sites. Owing to these benefits, the market is growing with a substantial rise in the real estate industry.

• Short Term (2023 Q1-2026): Real estate drone services market is expected to gain substantial rise in the short term period with increasing real estate industry growth post-pandemic. These services offer high visual designs of properties to the customer and help in attaining large sales of houses and offices to the brokers.
• Medium Term (2026-2029): In the medium term, technological innovation in drones, expanding their ability to capture more precise video & photos along with offering mapping & inspection services will create lucrative opportunities for market growth.
• Long Term (2029-2033): The substantial rise in the commercial sector worldwide, growing population, and increasing urbanization worldwide will escalate the growth of the real estate industry. With the increasing real estate industry, the rising demand for drones offering a complete outlook of building and infrastructure will drive the market growth.

North America to hold leading share of 42.0% in the market, followed by Europe and East Asia.

The image depict the expected total addressable market value of US$ 398.9 million in the 2023. During the historic period (2018-2022), the market growth rate was 11.5% and projected to rise with a CAGR of 17.3% during the forecast period (2023-2033).

Key factors driving the real estate drone services?

“Technological innovation in drones”

The significant rise in technological innovation in drones is expected to drive market growth in the forthcoming period. The drones are integrated with analytics software, artificial intelligence, sensors, and advanced cameras. With all these technologies, real estate drone service providers dynamic outside visuals of the building comprising with all angles. Whereas, for empty land, the drone offers efficient 3D images of land, and potential space and visualizes the structure that could be made on land.

Moreover, artificial intelligence is the latest innovation in drone technology. All the captured by the drone with the use of cameras and sensors is analyzed with AI which helps the drone to fly automatically. It avoids obstacles by efficiently detecting them with the help of AI. All these services offered by drones will enhance their utility in the real estate industry to offer greater & accurate visual designs to the customer.

“High return on investment to the agents”

The traditional method of taking photographs and videos of real estate is expensive, as it utilized helicopters to capture it. However, drone evolution has brought a drastic change in the real estate industry where accurate, quality visual design and videos is been offered by real estate drone service providers to the agents. This has resulted in a substantial rise in the number of buyers for real estate, as it made properties more attractive and appealing to them. According to the National Association of REALTORS® (NAR), about 73% of homeowners prefer agents who present real estate with photography and videography and for agents, about 68% of deals closing has increased with using drones for real estate presentation. With all these services offered by real estate service providers, the agents have observed incremental growth in their real estate deals, thereby escalating the growth of the market in the forthcoming period.

Factors impeding the real estate drone services

“Stringent regulation on drone utility”

The presence of strict government regulations on the utility of drones is a major factor restraining market growth. Any individual or business using drones are required to meet various guidelines and practices for operating drone regarding real estate visualization. Also, The Federal Aviation Administration (FAA), has made strict regulations for the pilot to have part 107 certification to operate a drone. Owing to this strict regulation, the real estate drone services demand is expected to be hampered.

Also, the government has made strict regulations regarding the utility of drones in populated places to prevent people from any uncertain accidents occurring from drone crashes. Additionally, people may create objections to utility of drones while capturing videos and pictures against their consent. This may result in serious offense, therefore, the presence of strict government on the utility of drones in the real estate industry is expected to restrict the market growth.

Country-wise Insights

United States to exhibit leading share in the global real estate drone services market

The presence of strict government regulations on the utility of drones is a major factor restraining market growth. Any individual or business using drones are required to meet various guidelines and practices for operating drone regarding real estate visualization. Also, The Federal Aviation Administration (FAA), has made strict regulations for the pilot to have part 107 certification to operate a drone. Owing to this strict regulation, the real estate drone services demand is expected to be hampered.

Also, the government has made strict regulations regarding the utility of drones in populated places to prevent people from any uncertain accidents occurring from drone crashes. Additionally, people may create objections to the utility of drones while capturing videos and pictures against their consent. This may result in a serious offense, therefore, the presence of strict government on the utility of drones in the real estate industry is expected to restrict market growth.

China to rise with fastest CAGR

China is expected to rise with a CAGR of 19.1% in the real estate drone services market.

During the COVID-19 spread in China, the economy has observed a slight slowdown in house construction and sales. Thereafter, the real estate sector of the economy is projected to recover in the Post pandemic. New house construction and sales are expected to resume in the region. Owing to these factors, drones' utility by the agents to offer elite visuals of the property will create lucrative opportunities for market growth.

Additionally, in China, house prices are noticed a significant fall for a few years. Due to this, consumers’ interest in owning a house is rising in the economy. Moreover, rising population growth in the region with a potential rise in urbanization has escalated the real estate industry in the economy. This factor may lead to the substantial expansion of the market growth in the region.

Category-wise Insights

Photography & filming to be leading service type

In the real estate industry, drones are gaining immense popularity these days to capture high-quality photos & videos of properties from different angles. It enables a custom tour of the location, highlighting its key features of it. Real estate drone service providers offer high-quality professional photography to the customer to stand out differently when compared to other property pictures from street view. This helps in attaining extra attention from the customer, impressing potential clients, and efficiently helps in capturing good deals for the property.

Additionally, these services are essential to showcase nearby amenities like parks, schools, stores, and other things available on the property. Which also, efficiently escalates the demand for the real estate drone services market. Moreover, individuals who are interested in owning a property hires real estate drone services provider to have a complete look at the property. It helps in detecting faults in a property that humans couldn’t able to track. Owing to all these factors, photography & filming services are gaining popularity in the real estate drone services market.

Commercial sector to exhibit leading share in real estate drone services

Real estate drone services are highly availed by businesses, organizations, and other commercial uses to timely inspect their building and take care of the property. They offer a 360-degree view of the property, which will help detect necessary errors in the commercial buildings and places that needs improvement.

Also, these services are endorsed, prior construction of the building for a topographic survey of land for further planning, management, and construction. It is found as a cost-efficient solution for engineers to gain high-quality photos and videos of commercial buildings from multiple angles to track certain faults in the building and improvise them on time.

These services are beneficial in real estate marketing, where builders capture quality images and videos of the property to attract the attention of a business person. Owing to all these factors, the demand for real estate drone services is projected to have substantial demand from commercial sectors.

Competitive Landscape

Key market participants in the real estate drone services market are Aerial drone solution, Aerial Vision Ltd, AERIUM Analytics, Aerodrome, Aerolion Technologies, DJM Aerial Solutions, Drone Base, Drone Dispatch, Drontek Aerial Solution, DDC Smart Inspection, EagleHawk, Firmatek, Multivista, Construction Drone Services, UAVISIONARY and RUAS.

The market is comprised of both small and large market players. These market players are taking strategic moves to enhance their service offering and capitalize on more market share. For instance,

• In August 2021, Upmarket photo, a leading real estate photography and videography company merged with Two Fish, to provide a multi-media real estate marketing company in the United States. With the merger, the company has decided to operate under the name of Upmarket Media.
• In June 2021, Volatus Aerospace Corp. has acquired ConnexiCore LLC, the leading drone service provider in Pennsylvania. The acquisition is aimed at expanding the drone services offering of the company in the entire United States.

Fact.MR has provided detailed information about the provider of real estate drone services market positioned across regions, revenue growth, and service offering expansion, in the recently published report.

Segmentation of the Real Estate Drone Services Market

• By Service:

  • Mapping & Surveying
  • Inspection
  • Photography & Filming

• By Customer Type:

  • Commercial
  • Residential

• B Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa