DUBLIN, March 22, 2016 /PRNewswire/ --
Foodpanda, the world's largest online food delivery platform, will use drones for delivery purposes within the next few months. After successfully testing its drone delivery technology in Singapore, Foodpanda has revealed plans to use delivery drones in all 24 of its markets including the aforementioned Singapore, Thailand, Hong Kong, Malaysia and India. The global commercial-purpose drones market is to grow at a CAGR of 57% over the 2016-2020 period, according to a report available from Research and Markets, and this strong growth is the result of businesses such as Foodpanda developing drone extensive delivery systems.
Foodpanda is hoping its drones will cut food delivery time to about 20 minutes and plans to conduct further testing before officially launching the service. The food delivery platform acknowledged the importance of proper legislation and the need to have commercial drones legally protected by government permits.
The global small drones market is projected to be worth USD 10.04 billion by 2020, as forecast in a recent industry report. This value could be higher if businesses like Foodpanda continue to develop drone delivery systems, increasing the demand for capable and robust small UAVs.
The global fast food restaurant market is expected to grow at a CAGR of 5.54% by 2019, as noted in a market report, but this forecast could also be higher thanks to delivery drones. Improved services such as reduced delivery times may encourage people to buy food online more often, resulting in growth in this and related markets.
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SOURCE Research and Markets