Commercial drones: Key market research findings
- Technological advancements
- Increased usage by advertising agencies
Technavio has released a new market research report on the global commercial drones market, which is expected to cross $1 billion between 2016 and 2020. Commercial drones are being used in precision agriculture and inspection of infrastructures such as bridges, oil pipelines, wind turbines, and solar farms. They also help to reduce government expense on surveillance by helicopters. The Americas dominate the global market for commercial drones, accounting for 58% of the overall market share. Much of the region’s growth can be attributed to the rising popularity of commercial drones in multiple industries like the agriculture, energy, infrastructure, and retail.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the commercial drones market is undergoing multiple technological advances – such as making these devices stronger, lighter, and more powerful. For instance, Intelligent Energy, a British power technology company, is expected to launch a drone powered by a hydrogen fuel cell and hybrid battery system at CES 2016, Las Vegas. Drones powered by such energy source will have longer flight time,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
Advertising agencies worldwide have started experimenting with the possibilities of drone advertising. They are developing drones that can fly billboards and drop promotional articles such as t-shirts. For instance, the US-based Dronecast is one such advertising agency that specialize in drone advertising. It promotes other companies’ products through banners hung from drones. It also hangs speakers from its drones to play music or promotional messages.
The key vendors in the global commercial-purpose drones market are 3D Robotics, DJI, Parrot, and Precision Hawk. This market is highly fragmented because of the presence of numerous small and large vendors. Factors such as low penetration in end-user markets, rapid advances in technology, and falling prices are intensifying competition among providers. This competition is likely to amplify with the relaxation of regulations for flying drones.
A more detailed analysis is available in the Technavio report, Global Commercial-purpose Drones Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Agricultural Robots Market – Market Research 2015-2019
- Global Defense Drones Market 2016-2020
- Global Civilian Drones Market 2015-2019
- Global Fiber Optic Sensors Market 2016-2020
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