Mon, 26 Oct 2020

E-commerce industry has matured immensely over the years in the developed economies as well as the developing nations. The primary driver for the e-commerce industry is that the customers can purchase from and receive the goods at the most convenient location. Owing to this the entire e-commerce market is gaining a great deal of attraction. These factors are anticipated to drive the drone service market during the forecast period

Global drone service market is expected to grow from US$ 629.2 Mn in 2018 to US$ 24,882.2 Mn by 2027 at a CAGR of 51.1% between 2019 and 2027.

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Drone Service market is experiencing a high growth throughout the globe, driven by growth in real estate/infrastructure, agriculture, media & entertainment, industrial, law enforcement, and other industries. Moreover, increasing adoption of drone-based solutions in the agriculture sector and media industry is constantly driving the market.

North America is one of the prominent regions in the drone service market which is contributing highest revenue globally due to the increase in the population. The US is a developed country in terms of advanced technology, the standard of living, and infrastructure among others. Across North America, the technological advancements have led to highly competitive markets. The adoption of drones in the region is wholly dependent on specific rules and regulations set by the Federal Aviation Administration (FAA). The service providers have to adhere to the legislation set by FAA to fly drones in industries, agricultural, real estate, and media & entertainment industries.

The drone service market is growing in the region owing to the participation in technology forums by the service providers; acquisitions of companies for further enhancement of drone services in North America. Europe and the Asia Pacific trails North America in terms of drone service adoption and competes closely during the forecast period. However, Asia Pacific is anticipated to grow at a prime rate during the forecast period.

TABLE OF CONTENTS

1. INTRODUCTION 15

1.1 SCOPE OF THE STUDY 15

1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 15

2. KEY TAKEAWAYS 16

3. DRONE SERVICE MARKET LANDSCAPE 19

3.1 MARKET OVERVIEW 19

3.2 MARKET SEGMENTATION 20

3.2.1 Global Drone Service Market - By Drone Type 21

3.2.2 Global Drone Service Market - By Service 21

3.2.3 Global Drone Service Market - By Industry 22

3.2.4 Global Drone Service Market - By Geography 22

3.3 PEST ANALYSIS 23

3.3.1 North America - PEST Analysis 23

3.3.2 Europe PEST Analysis 25

3.3.3 ASIA PACIFIC PEST Analysis 27

3.3.4 Middle East & Africa PEST Analysis 29

3.3.5 South America PEST Analysis 31

4. DRONE SERVICE MARKET - KEY INDUSTRY DYNAMICS 33

4.1 KEY MARKET DRIVERS 33

4.1.1 Increasing Adoption of Drone Based Solutions in Agriculture Sector and Media Industry is Constantly Driving the Market 33

4.1.2 Rotary Wing Drones have Influenced the Drone Service Market Over the Years 34

4.2 KEY MARKET RESTRAINTS 34

4.2.1 Lack of Skilled Drone Operators in Developing Regions to Hamper the Market Growth 34

4.3 KEY MARKET OPPORTUNITIES 35

4.3.1 Rising Adoption of Drone Services in E-commerce Industry is Anticipated to Stimulate the Market Growth 35

4.4 FUTURE TRENDS 36

4.4.1 Beyond the Visual Line of Sight (BVLOS) to Accentuate the Demand for Commercial Drone Service 36

4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 36

5. DRONE SERVICE MARKET - GLOBAL ANALYSIS 37

5.1 GLOBAL DRONE SERVICE MARKET OVERVIEW 37

5.2 GLOBAL DRONE SERVICE MARKET FORECAST AND ANALYSIS (US$ MN) 39

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