DUBLIN--(BUSINESS WIRE)--The "Drone Service Market Application (Aerial Photography, Data Acquisition, Analytics), Industry (Infrastructure, Media & Entertainment, Agriculture), Type (Drone Platform Service, Drone MRO, Drone Training, Solution, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The drone services market size is expected to grow from USD 4.4 billion in 2018 to USD 63.6 billion by 2025, at a CAGR of 55.9% during the forecast period.
The market for drone services is driven by numerous factors, such as the increasing use of drone services for industry-specific solutions, improvised regulatory framework, and increased requirement for qualitative data in various industries. Safety concerns and lack of skilled and trained operators are limiting the overall growth of the market.
The enterprise segment is estimated to lead the drone services market in 2019.
Based on solution, the enterprise segment is estimated to account for the largest share of the drone services market in 2019. Enterprise solutions cater to demand from different end-use industries. These solutions provide end-to-end services for different applications. Increasing demand for analytical services and software solutions in the drone services market is driving the enterprise solution segment.
The aerial photography and remote sensing segment is estimated to account for the largest share of the drone services market in 2019.
Based on application, the aerial photography and remote sensing segment is estimated to account for the largest share of the drone services market in 2019. There has been an increase in the demand for aerial photography from the infrastructure, architecture, civil engineering, and oil & gas industries around the world. Digitalization in the construction and infrastructure industries will require drone services to collect digital data for assets management. Increasing aerial photography applications coupled with increasing demand for data collection of different projects are likely to drive the demand for drone services.
North America is estimated to account for the largest share of the drone services market in 2019.
North America is estimated to account for the largest share of the drone services market in 2019. In recent years, the rules regarding flying drones in the US have been liberal, paving the way for thousands of businesses or drone services to fly legally in the country's airspace. This has increased the demand for drone services in the region.
Market Dynamics
Drivers
- Increasing Demand for Drone Services Due to Time Efficiency
- Industry Specific Solutions Provided By Drone Service Providers
- Improved Regulatory Framework
- Consumers Increasing Requirement for Quality Data
- Technological Advancements in Drones
- Need for Human Safety
Restraints
- Lack of Skilled and Trained Operators
- Safety Concerns During Drone Operations
- Limited Bandwidth for Drone Operation May Hamper Its Demand
Opportunities
- FAA Exemptions in Drone Platforms
Challenges
- Privacy Issues With Drone Operations
- Lack of Risk Management Framework
- Limited Endurance Affecting the Operation of Drones
Companies Mentioned
- Aerobo
- Airware
- Cyberhawk Innovations Ltd.
- Deveron UAS
- Dronedeplopy Inc.
- Identified Technologies
- Measure
- Phoenix Drone Services LLC
- Prioria Robotics
- Sensefly Ltd.
- Sharper Shape Inc.
- Sky-Futures Ltd.
- Terra Drone Corporation
- The Sky Guys
- Unmanned Experts Inc.
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