TMR drone services market study
By UAV Canada Staff
By UAV Canada Staff
A new report by Transparency Market Research finds the global drone services market will reach a Value of US$33 billion by 2027. Results from the research study has Transparency Market Research (TMR) estimating that the drone services market will expand at a CAGR of 32.5 per cent during the forecast period.
TMR notes how drones have effectively interrupted business and operating models in key sectors, including agriculture, urban development, traffic management, disaster management, forest and wildlife, healthcare, security, and mining, among others. For example, with the adoption of UAVs, the construction industry directly benefits in terms of increased savings and safety, enhanced communication, and accurate measurements and insights.
TMR explains the benefits of using drones can be vouched by the 239 per cent increase in the adoption of drones in the construction industry witnessed in 2017. The group states this is the highest usage of drones in any sector that uses such commercial vehicles. This type of sector integration is expected to drive the global drone services market during the forecast period.
North America accounted for a key share of the global drone services market in 2018, according to TMR, which states this region is expected to dominate the global market between 2019 and 2027, owing to the increasing demand in the infrastructure, media and entertainment, and agriculture sectors in the region.
Europe is projected to be the second-largest market for drone services during the forecast period, according to TMR, which states the rising use of drone delivery services in the healthcare and warehouse industries in the region is expected to augment the adoption of drone services in Europe in the next few years.
Asia Pacific is anticipated to be a highly lucrative market for drone services throughout the forecast period, according to TMR, owing to the increasing adoption of drone services in developing economies in the region, such as China. The market for unmanned aerial services in China is valued at CNY 30 billion per year, with the government pushing to increase standardization and automation in the agricultural sector in the country.