{"id":3261,"date":"2018-10-17T17:19:29","date_gmt":"2018-10-18T00:19:29","guid":{"rendered":"http:\/\/droneanalyst.com\/?p=3261"},"modified":"2018-10-17T17:19:29","modified_gmt":"2018-10-18T00:19:29","slug":"measuring-success-in-the-drone-market","status":"publish","type":"post","link":"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'","title":{"rendered":"Measuring Success in the Drone Market"},"content":{"rendered":"<p>\u201c<em>If you can\u2019t measure it, you can\u2019t improve it<\/em>.\u201d \u2013 Peter Drucker<\/p>\n<p>The <a href=\"https:\/\/www.suasnews.com\/2018\/09\/airware-shuttered\/\" target=\"_blank\" rel=\"noopener\">$118M Airware failure<\/a> is a cautionary tale for all potential commercial drone investors\u2014as well as all existing commercial drone market participants. To avoid such failure\u2014whether you are drone aircraft manufacturer, software vendor, service provider, business enterprise, investor, or public agency\u2014you need the most reliable market data possible\u2014not just best guesses.<\/p>\n<p>I still believe the #1 misconception in the drone industry is how fast it will grow, which sectors will grow, and which ones will lag. As early as 2014, we <a href=\"http:\/\/droneanalyst.com\/2014\/06\/25\/five-reasons-the-auvsi-got-its-drone-market-forecast-wrong\" target=\"_blank\" rel=\"noopener\">wrote about this problem<\/a> and warned about using unreliable data to measure the potential market for drones. Back then I said <a href=\"http:\/\/droneanalyst.com\/2015\/06\/04\/diversity-and-hype-in-commercial-drone-market-forecasts\" target=\"_blank\" rel=\"noopener\">drone market forecasts abound<\/a>. At that time there were 22 independent companies providing market forecasts, and each of them projected growth for the drone or unmanned aerial system (UAS) sector that was nothing short of phenomenal. Today there are 84, most still projecting remarkable growth.<\/p>\n<p>Our observations:<\/p>\n<ul>\n<li>We see a lack of objective information on drone industry market segments.<\/li>\n<li>We find there\u2019s an absence of credible market-based research.<\/li>\n<li>We see little understanding of the difference between large industry forecasts and actual business user adoption rates.<\/li>\n<\/ul>\n<p><strong>Example of success<\/strong><\/p>\n<p>Despite the big disconnect, there are some big success stories in dronelandia\u2014successes that can be attributed in great part to managing with good data.<\/p>\n<p>Take <a href=\"https:\/\/www.dronedeploy.com\/\" target=\"_blank\" rel=\"noopener\">DroneDeploy<\/a>, for example. <a href=\"https:\/\/dronelife.com\/2018\/10\/13\/dronedeploy-introduces-new-features-in-ai-customization-and-collaboration\/\" target=\"_blank\" rel=\"noopener\">They report<\/a> over 30,000 users that log over 65,000 flights per month. These users have mapped over 250,000 sites and uploaded more than 75 million images in the last 12 months.<\/p>\n<p>By our accounting (results from our <a href=\"http:\/\/droneanalyst.com\/2018\/09\/18\/new-report-benchmarks-drone-industry-and-refutes-hyperbole\" target=\"_blank\" rel=\"noopener\">2018 benchmark survey<\/a> of over 2,500 drone industry participants), DroneDeploy has the #1 market share for agriculture and construction in automated flight \/ mission planning and data \/ image \/ video processing\u2014despite having 16% and 12% overall share in those two software categories, respectively. All vendors continue to push out innovations, but it\u2019s DroneDeploy that\u2019s pushing boundaries more than any vendor. Their <a href=\"https:\/\/www.dronedeploy.com\/app-market\/index.html\" target=\"_blank\" rel=\"noopener\">app market<\/a> is the largest set of industry-specific integrated apps available.<\/p>\n<p>How did they get to be so successful?<\/p>\n<p>DroneDeploy operates in one of the most crowded segments of the commercial drone market\u2014software. We track over 130 vendors servicing the two software categories in which they compete. Last year our data showed they lead with more agriculture industry market share than anyone but lagged in construction. This year, however, they targeted construction, and the results show it.<\/p>\n<p>One reason for DroneDeploy\u2019s success is they were able to track their results with data\u2014data that we provided from custom queries tailored to their objectives that were included in their research sponsorship over the past two years.<\/p>\n<p><strong>Bottom line<\/strong><\/p>\n<p>The quote by Drucker above means that you can\u2019t know whether you are successful unless success is defined and tracked. With a clearly established metric for success, you can quantify progress and adjust your process to produce the desired outcome. Without clear objectives, you\u2019re stuck in a constant state of guessing.<\/p>\n<p>If you have questions about how we can help you make critical investment decisions with confidence, write me at <a href=\"mailto:colin@droneanalyst.com\">colin@droneanalyst.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>Image credit: Shutterstock and Skylogic Research<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cIf you can\u2019t measure it, you can\u2019t improve it.\u201d \u2013 Peter Drucker The $118M Airware failure is a cautionary tale for all potential commercial drone investors\u2014as well as all existing commercial drone market participants. To avoid such failure\u2014whether you are drone aircraft manufacturer, software vendor, service provider, business enterprise, investor, or public agency\u2014you need the &#8230; <a title=\"Measuring Success in the Drone Market\" class=\"read-more\" href=\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/&#039;\" aria-label=\"Read more about Measuring Success in the Drone Market\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":3263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51,7,49,23],"tags":[73,76,9,77,20,10],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Measuring Success in the Drone Market - Drone Analyst<\/title>\n<meta name=\"description\" content=\"How Skylogic Research helps commercial drone firms like DroneDeploy and others reach their goals and make critical investment decisions with confidence by providing research based insights.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Measuring Success in the Drone Market - Drone Analyst\" \/>\n<meta property=\"og:description\" content=\"How Skylogic Research helps commercial drone firms like DroneDeploy and others reach their goals and make critical investment decisions with confidence by providing research based insights.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/&#039;\" \/>\n<meta property=\"og:site_name\" content=\"Drone Analyst\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/droneanalyst\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-18T00:19:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/droneanalyst.com\/wp-content\/uploads\/2018\/10\/Measuring-Success-03-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1583\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Colin Snow\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Snow\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'#article\",\"isPartOf\":{\"@id\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'\"},\"author\":{\"name\":\"Colin Snow\",\"@id\":\"https:\/\/droneanalyst.com\/#\/schema\/person\/cfaec0eaf7627b0c98cecd854c7744f7\"},\"headline\":\"Measuring Success in the Drone Market\",\"datePublished\":\"2018-10-18T00:19:29+00:00\",\"dateModified\":\"2018-10-18T00:19:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'\"},\"wordCount\":528,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/droneanalyst.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'#primaryimage\"},\"thumbnailUrl\":\"https:\/\/droneanalyst.com\/wp-content\/uploads\/2018\/10\/Measuring-Success-03-scaled.jpg\",\"keywords\":[\"commercial drones\",\"DroneDeploy\",\"Drones\",\"market research\",\"UAS\",\"UAV\"],\"articleSection\":[\"Drone Data Services\",\"Drone Industry Trends\",\"Drone Market\",\"Research\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'\",\"url\":\"https:\/\/droneanalyst.com\/2018\/10\/17\/measuring-success-in-the-drone-market\/'\",\"name\":\"Measuring Success in the Drone Market - 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