LONDON, Jan. 24, 2017 /PRNewswire/ -- "Increasing demand for drone services in commercial applications is the key factor expected to impact the growth of the drone services market during the forecast period"
The drone services market is estimated to be USD 705.3 million in 2016 and is projected to reach USD 18,022.7 million by 2022, at a CAGR of 71.62% during the forecast period. The key factors expected to fuel the growth of the drone services market include increasing demand for drone services for monitoring and inspection across several industries. However, factors such as lack of skilled and trained personnel to operate drones, and stringent regulatory policies regarding drone operations in civil aerospace may act as restraints for the growth of the drone services market.
"Based on Industry, the infrastructure segment is projected to witness highest growth during the forecast period"
Based on industry, the infrastructure segment of the drone services market is projected to witness the highest growth, as drone services are getting affordable and are being used for various purposes such as monitor construction progress by taking topographic survey and construction progress photography to increase the productivity of construction process.
"Based on application, the aerial photography & remote sensing segment is expected to lead the drone services market during the forecast period"
Based on application, the aerial photography & remote sensing segment is estimated to lead the drone services market during the forecast period. The demand for aerial photography and remote sensing is increasing, owing to the capability of drones to collect high resolution aerial data in complex areas.
"Based on duration of service, the short duration service segment is projected to lead the drone services market during the forecast period"
Based on duration of service, the short duration service segment is anticipated to lead the drone services market during the forecast period. Industries such as agriculture, logistics, media & environment, infrastructure, and oil & gas are opting for short duration drone services, as the use of drones has helped reduced labor cost and increased speed of business operations.
"North America is estimated to account for the largest share of the drone services market in 2016; Asia-Pacific is expected to grow at the highest rate during the forecast period."
North America is estimated to lead the drone services market in 2016, due to increased drone services application in infrastructure, agriculture, and media & entertainment in the region. The drone services market in the Asia-Pacific (APAC) region is expected to witness high growth during the forecast period, owing to the expansion of the commercial sector and improvements in policy framework for the use drones in several countries in the region.
Break-up of profiles of primary participants in this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C Level – 35%, Director Level – 25%, Others – 40%
- By Region: North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Key players profiled in the drone services market report include Airware, Inc. (U.S.), Aerobo (U.S.), Cyberhawk Innovations Ltd. (U.K.), Sky Futures Ltd. (U.K.), SenseFly Ltd. (Switzerland), DroneDeploy Inc. (U.S.) and Sharper Shape Inc. (U.S.) among others.
The study segments the drone services market on the basis of industry, application, type of drone, duration of service and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East and RoW. On the basis of industry, the market has been segmented into infrastructure, agriculture, logistics, media and entertainment, oil and gas, utility and power, security, search & rescue, mining, scientific research, and insurance, among others. On the basis of application, the drone services market has been segmented into aerial photography and remote sensing, data acquisition and analytics, mapping & surveying, 3D modeling, disaster risk management and mitigation, inspection & environmental monitoring, product delivery, among others. Based on type of drone, the market has been segmented into fixed-wing drone and multirotor drone. The report provides in-depth market intelligence regarding market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the drone services market, along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the drone services market.
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analyses — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the drone services market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information of drone services offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the drone services market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for drone services across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the drone services market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the drone services market
Download the full report: https://www.reportbuyer.com/product/4603864/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/drone-services-market-by-industry-application-type-of-drone-duration-of-service-and-region---global-forecast-to-2022-300396193.html