Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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"The Drone Service Market Registered US$ XX Bn in 2019 and is Estimated to Reach More Than US$ XX Mn by 2028, Likely to Grow with a CAGR of 31.5 % During the Forecast Period."
Drones are used for military purposes such as reconnaissance, intelligence, and attacks. Recently, drones (or unmanned aerial vehicles (UAVs)) are gaining attention primarily due to the advancement in technology. And soon could be ubiquitous and a network of drones could be utilized in providing civilian drone services.
Drones can cater to offering infrared and high precision images of crops and soil quality that help farmers to determine the strain levels of crops and their growth parameters. This is expected to increase demand in the agriculture sector. Farmers are embracing this technology for the management of varied crop dynamics like aquaponics, crop rotation, crop protection, organic farming, and bio-waste management, and this is often spurring the demand for drone services within the agriculture.
By Solution, the Enterprise Segment is expected to Exhibit Highest CAGR during the Forecast Period.
Based on the solution, the enterprise segment is anticipated to register significant CAGR during the forecast period. Enterprise solutions provide offers end-to-end services to various industries. Increasing the adoption of analytical services and software solutions in the drone services market is expected to drive the growth of the segment.
Aerial Photography and Remote Sensing Segment Expected to Grow at the Highest CAGR in the Drone Services Market During the Forecast Period.
Based on application, the drone services market has been segmented into aerial photography and remote sensing, data acquisition and analytics, mapping & surveying, 3D modeling, etc., Aerial photography and remote sensing application segment is expected to exhibit fastest CAGR during the forecast period. This is primarily due to the increasing demand for aerial photography from the infrastructure, architecture, engineering, and oil & gas industries round the world.
Based on End User, the Agriculture Segment is expected to Grow at the Fastest Rate During the Forecast Period
Although, the most important customer of the drone service market is that the defense segment. The segment uses various UAVs for reconnaissance and strike missions. However, the agriculture sector is using drones to know the topography of the situation for better farming. Since more farmers are becoming educated on new technologies and understanding its advantages. This sector presents enormous potential for worldwide players in the drone services market.
The Drone Service Market in Europe accounted for the largest share in 2019.
By geography, the drone service market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific drone service market is projected to exhibit the fastest growth rates during the forecast period. This growth is attributed to the increasing adoption of drone services among prominent industries such as agriculture, mining, and oil & gas. In Europe, the market in the Netherlands is one among the leading players within the development of drone technology. As an example, Space 53 is that the unique testing area in Western Europe that brings together public and personal partners, both domestically and internationally, for testing, training and developing unmanned systems.
Major players are involved in extensive research and adopting advanced technology to innovate their products. This may also help them in improving their position within the market against their competitors. Competition among the players in the global Drone Service market is projected to extend considerably during this tenure. This is often mainly due to the presence of a large number of players that have created a fragmented vendor landscape within the market. Key industry players such as Airware, Aerobo, Cyberhawk, Deveron UAS, Identified Technologies, DroneDeploy, Measure, Prioria Robotics, Phoenix Drone Services, SenseFly, Unmanned Experts, Sky-Futures, Sharper Shape, Terra Drone, The Sky Guys, among others.
- Aerial Photography and Remote Sensing
- Data Acquisition and Analytics
- Mapping & Surveying
- 3D Modeling
- Disaster Risk Management and Mitigation
- Inspection & Environmental Monitoring
- Others (Product Delivery, Pollution Monitoring, Storm Tracking)
By End User
- Media & Entertainment
- Oil & Gas
- Utility & Power
- Security, Search & Rescue
- Scientific Research
- Others (Healthcare, Weather Forecasting, Aviation)
- North America
- Asia- Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America