Global Drone-powered Business Solutions Market: Snapshot
Organizations worldwide are acknowledging the benefits they have derived by integrating drones in various verticals such as infrastructure maintenance, security and surveillance, inspection, mapping and surveying, and large-scale capital projects. This likely to provide a significant boost to the growth of the global drone-powered business solutions market.
The primary solutions offered by drone-powered business solutions are software and services. There will be a greater inclination towards services, however, the demand for software is expected to rise at a significant pace during the forecast period. The increasing focus of drone service providers towards developing and offering their own exclusive software is likely to boost the adoption rate of software.
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On the basis of drone type, the market can be bifurcated into multi-rotor and fixed-wing. Multi-rotor drone will continue to account for a large share in the market during the review period, owing to its wide range of applications in non-military verticals such as aerial photography, sports coverage, environmental inspection, and agriculture.
Based on application, the market can be divided into filming and photography, data acquisition and analytics, surveillance and SAR, mapping and surveying, delivery service, and 3D modeling. The filming and photography segment will hold a prominent position in the global arena. Drones equipped with barometric sensors, 3-axis gyros, and GPS are being increasingly used for aerial filming and photography. Data acquisition and analytics is expected to expand at a noteworthy CAGR during the same period. Advancements in drone and sensor technology are boosting the adoption of drone-based business solutions in this vertical.
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Global Drone-powered Business Solutions Market: Overview
So far, drones have largely been used for enhancing warfare capabilities and in video and photography, but there are several other applications of unmanned aerial vehicle (UAV) technology that are underway. From agriculture to internet access, drones have the potential to redefine the ways humans operate.
UAV powered business solutions are gaining traction across a spectrum of industry verticals that require high-quality information combined with mobility. This is because UAV-enabled commercial solutions have the ability to address the issues faced by several industries historically that are related to managing assets spread over large areas such as utilities, roadways, railway, and infrastructure.
The global drone-powered business solutions market can be divided on the basis of application, end-use, and region.
The report analyzes the global drone-powered business solutions market in a ground-up manner providing valuable insights about its market dynamics, technological developments, geographical outlook, and competitive landscape. Comprising an extensive research phase, which includes receiving information from paid databases, press releases, white papers, and journals the report presents the market attractiveness until the end of the forecast period in 2025.
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Global Drone-powered Business Solutions Market: Drivers and Restraints
The incessant development in drone technology along with surging investments by prominent players is among the primary factors driving the drone-powered business solutions market. The escalating demand for drone-based growth solutions across various industries, development of legislation and regulatory framework for UAVs, and overall advancement in the commercial drone industry are favoring the growth of this market. Furthermore, the rising demand for improved data processing and data accessibility capabilities in businesses along with increasing need for enhanced safety and cost-effective solutions is augmenting the growth of this market.
However, the growth of this market is challenged due to certain factors. High costs involved in drone maintenance and the complexities involved in their repairs is restraining the market’s growth. The limitations pertaining to the short battery life of drone and stringent compliance requirements are further slowing the market’s growth. Moreover, lack of trained personnel for operating drone and air traffic management issues are limiting the use of drones for business needs.
Global Drone-powered Business Solutions Market: Regional Outlook
North America is expected to be the leader in the drone-powered business solutions market in the coming years. The rising demand for drones and their use for generating data across a spectrum of industries, typically in the U.S. are driving this regional market.
Europe is expected to exhibit a profound growth in this market in the coming years. The European Commission (EC) is increasing efforts to standardize unmanned aircraft safety (UAS) rules and has also proposed all UAVs to integrate into the EU aviation safety architecture.
Global Drone-powered Business Solutions Market: Competitive Outlook
In matters of competition, some of the leading players in the global drone-powered business solutions market include 3D Robotics, Phoenix Drone Services LLC, senseFly Ltd., DroneDeploy, PrecisionHawk, and Pix4D. Some other players in this market include Aerobo, Eagel-Eye Drone Service, Airware Inc., Cyberhawk Innovations Ltd., Skylark Drones, and FlyWorx. UAV service providers worldwide are focused on widening their commercial application base, which includes developing innovative technologies and providing UAV training programs to gain a competitive edge.
The report profiles these players for their distinguishing attributes of recent developments, business strategies, competitive position, and financial standing. Also, the report throws light on the growth trajectory that key players in this market are expected to exhibit.