June 24, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Drone Service Market.
It was estimated prior to this unanticipated outbreak that the Drone Service Market is likely to witness an impressive CAGR of 57.2% during the forecast period. Increased requirement for qualitative data in various industries, growing use of drone services for industry-specific solutions, and improvised regulatory framework are the prime factors expected to bolster the growth of the global drone service market during the forecast period.
Market Scope & segmentation
Drone service is the service offered by the flying robots that are either controlled by remotes or software operations. It is these days an emerging trend as it offers short duration as well as long duration services.
Drone service is able to offer a number of options such as aerial photography, data acquisition, mapping & surveillance, 3D modeling, risk management, and others. Infrastructure, agriculture, logistics, oil & gas, utility & power, security, mining, insurance, and many others are the industries where drone service is used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the application type, the market is segmented as aerial photography & remote sensing, data acquisition & analytics, mapping & surveying, 3D modeling, disaster risk management & mitigation, inspection & environmental monitoring, and others. The aerial photography & remote sensing application segment is estimated to register the highest growth during the forecast period. The growth of the segment is owing to the increase in the demand for aerial photography from various sectors, such as architecture, infrastructure, civil engineering, and oil & gas across the world.
Based on the solution type, the market is segmented as enterprise and point. The enterprise segment is expected to grow at a higher rate in the coming five years. The growth of this segment can be attributed to the fact that enterprise solutions deliver end-to-end services to various industries. Further, escalating demand for analytical services and software solutions in the drone service market is propelling growth of the segment.
In terms of regions, the drone service market in the Asia-Pacific region is estimated to witness the highest growth during the forecast period. This growth is owing to the increasing number of drone services being used by various industries, such as mining, agriculture, and oil & gas in the region. China and India are the growth engines of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Drone Service market are-
- Cyberhawk Innovations Limited
- Edall Systems
- Identified Technologies
- Martek Aviation
- Precision Hawk
- Sky-Futures Ltd.
- Sky-Futures Ltd.
- Terra Drone Corporation.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Drone Service analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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