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Increased demand for safe and accurate inspection & monitoring devices and surge in technological developments in drones fuel the global drone inspection and monitoring market. By region, the market across North America is expected to hold the largest share in terms of revenue by 2030.
/EIN News/ — Portland,OR, Dec. 16, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global drone inspection and monitoring market generated $6.44 billion in 2020, and is anticipated to reach $35.11 billion by 2030, manifesting a CAGR of 16.1% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Need for increased cost-efficiency & human safety, entry of several start-ups, and increase in demand for improved surveillance fuel the global drone inspection and monitoring market. On the other hand, strict government regulations related to drones hinder market growth. However, technological progress in drones is expected to create several lucrative opportunities.
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COVID-19 Scenario:
- The business and manufacturing units across the world were closed due to rise in the number of COVID-19 cases. The pandemic also caused a partial or complete lockdown which disrupted the global supply chain and created shortage of workforce and raw materials. This created challenges for manufactures to reach customers.
- Disruptions in Chinese parts exports hampered the drone inspection and monitoring market.
The report segments the global drone inspection and monitoring market on the basis of type, solution, operation mode, application, and region. Based on solution, the services segment contributed to the highest market share in 2020, attributing to more than half of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the software segment is expected to manifest the fastest CAGR of 18% from 2021 to 2030.
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Based on type, the multirotor segment contributed to the highest market share in 2020, attributing to nearly half of the total market share, and is anticipated to lead during the forecast period. On the other hand, the hybrid segment is expected to manifest the fastest CAGR of 17.6% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding nearly two fifths of the total share, and is expected to lead during the forecast period. The global drone inspection and monitoring market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 17.5% during the forecast period.
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Key players of the global drone inspection and monitoring market analyzed in the research include Aerovironment Inc., American Robotics, Ageagle Aerial Systems Inc., Israel Aerospace Industries, DJI, Microdrones, PrecisionHawk, Parrot Drones, Trimble Inc., Parrot Drones, and Yamaha Motor Corp. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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