Press release
Drone Service Market is Reaching $128.1853 Billion in 2030, 40.7% CAGR Growth Forecast
Drone Service Market
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Growth in demand for time efficient delivery service, surge in demand for industry specific solutions, and growth in implementation of autonomous security and surveillance systems drive the growth of the global drone service market. However, cybersecurity issues related to drones and limitation with operational bandwidth of drones hamper the market growth. On the other hand, revamped government regulatory framework and technological advancement in drones are expected to create new opportunities in the coming years.
In terms of revenue, North America leads the market, followed by Europe, Asia-Pacific, and LAMEA. The rise in adoption of drone service in construction, energy & power, logistics, and other industries fosters the growth of drone service in North America. U.S. dominated the global drone service market share in 2020 and is expected to grow at a significant rate during the forecast period. Drone services are increasingly being used to expedite logistics and surveillance services in major North American economies.
Drone services are being used on construction sites to inspect and monitor the progress of the work. By type, the drone service market is categorized into drone platform services, drone maintenance, repair, and overhaul (MRO) services, and drone training & education services. The drone platform services segment accounted for the highest revenue in 2020, owing to the drone technology advancements and increased development of advanced drones for agriculture, construction management, search & rescue, forestry, real estate, fire, and emergency services. Increased demand in defence, energy & power, homeland security, and other industries for unmanned platforms that provide residential and commercial real-estate photography, construction site monitoring, drone inspection services, orthomosaic & aerial survey, data capture & analysis services, and drone 3D modelling foster the growth of the drone platform services segment.
By solution, the drone service market is segregated into enterprise and point. In 2020, the enterprise segment dominated the solution segment, owing to rise in popularity of drone services as more technologically advanced airborne platforms, such as unmanned aerial vehicles (UAVs), are being integrated into numerous businesses. The adoption of drones by enterprise solution providers has expanded to fully exploit the potential of the expanding global need for end-to-end modernization solutions by industries such as construction, inspection, and public safety.
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The surge in demand for time-efficient delivery service, increase in demand for industry-specific solutions, and high demand for autonomous security and surveillance systems are expected to drive the global drone service market growth during the forecast period. However, cybersecurity issues associated with drones and limited operational bandwidth for drones is anticipated to hamper the growth of the market during the forecast period. Moreover, revamped government regulatory framework and technological advancement in drones is expected to offer lucrative opportunities for the market in the future.
Key players operating in the global drone service market include Aerodyne Group, Cyberhawk, DroneDeploy, Edall Systems, Phoenix Drone Services LLC, PrecisionHawk, senseFly, Sharper Shape, Terra Drone Corporation, and Unmanned Experts Inc.
Key Findings Of The Study:
> By duration of service, the long-duration service segment is anticipated to exhibit significant growth in the near future.
> By application, the aerial photography & remote sensing segment is anticipated to exhibit significant growth in the near future
> By solution, the enterprise segment is anticipated to exhibit significant growth in the near future
> By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key Benefits For Stakeholders
> This study presents the analytical depiction of the global drone service market analysis along with the current trends and future estimations to depict imminent investment pockets.
> The overall drone service market opportunity is determined by understanding profitable trends to gain a stronger foothold.
> The report presents information related to the key drivers, restraints, and opportunities of the global drone service market with detailed impact analysis.
> The current drone service market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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