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Commercial Drones Market is Witnessed to Grow USD 11.61 Billion During 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--Jun 26, 2019--
According to Technavio Research Report “ Commercial Drones Marketby product (software and services, and hardware), end-user industries (infrastructure sector, agriculture sector, public safety sector, energy sector, media and entertainment sector, insurance sector, and others sector) and geography (the Americas, APAC, and EMEA) is witnessed to grow USD 11.61 billion, at a CAGR of 36% from 2018 to 2022.”
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Technavio has published a new market research report on the global commercial drones market from 2018-2022 (Graphic: Business Wire)
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Global Commercial Drones Market: Increasing investments in commercial drones
There is an increase in the investments in commercial drones due to the increased applicability of commercial drones in various fields and verticals. The major factor contributing to the increase in investments in commercial drone sector include the increasing demand for commercial drones from North America.
According to a senior analyst at Technavio for research on life science research tools, “In 2017, the number of commercial drones in North America grew by 58% when compared with 2016. As a result, more venture capitalists and other angel investors are continually investing in various commercial drone providers.”
Another major factor driving the growth of the market is the access to better data insights using commercial drones. The rising demand for improved data along with effective data insights that commercial drones provide is driving the growth of the market. Due to the steady rise in the adoption of commercial drones and the global expansion of vendors, more enterprises are using drones.
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Few Major Players for the Commercial Drones Market are:
- 3D Robotics
- Aeryon Labs
- DJI
- Parrot
- Strat Aero
Global Commercial Drones Market: Top emerging trend
The growing use of artificial intelligence (AI) is an emerging trend in the commercial drones market. Drones can identify detrimental flight conditions and bypass them by using machine learning and AI. Additionally, machine learning will permit drones to capture data, analyze it, and make decisions based on the data. The agriculture and construction sectors are expected to be benefited by the gradual shift to AI. The incorporation of machine learning and AI in drones used in the construction sector will allow the generation of automated safety reports and stockpile analysis.
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KEYWORD:
INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY HARDWARE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 06/26/2019 10:25 AM/DISC: 06/26/2019 10:25 AM
http://www.businesswire.com/news/home/20190626005523/en
