Expanding applications of commercial drones in various industries and growing investments in drone technology to drove growth.
NEW YORK, NEW YORK, UNITED STATES, February 20, 2020 /EINPresswire.com/ — Goldstein Research has recently published a research report that provides in-depth information about how growth of the drone services market will unfold in the near future. The research report expects the global market to exhibit a massive CAGR of 57.8% through 2024. With such high rate of growth, the valuation of the market is expected to reach around USD 9.4 bn by 2024.
“Businesses are constantly looking to innovate by improving or replacing inefficient processes, and drones are making this possible. Drone mapping provides 3X time and costs savings compared to traditional methods. A robust commercial drone ecosystem has emerged and will continue to thrive as drone adoption increases. It is expected to see an array of hardware and software players enter the industry in the coming year. Third-party developers are already making an impact through the commercial drone app market. This trend will continue along with the momentum powering innovation in the commercial drone industry”, states Goldstein Research analyst.
Key Findings in the Research Report
• In engineering and construction industries real time information is the major challenge for the companies. Commercial drones can provide the real-time data of entire project and day-to-day progress of the entire project. It is anticipated that construction industry will provide the largest business opportunities to the commercial drone service providers.
• US Drone Services market is anticipated to be the most attractive market across the region, for new entrants looking to enter in the market, existing players looking for business expansion and investors seeking investment opportunities through 2024.
• Despite emerging competition, DJI and senseFly remain the top leaders in the industry, making up a significant percentage of the DroneDeploy user base. Currently, 20% of DroneDeploy users are flying multiple drones, and this number is only expected to increase moving forward.
• As with any new industry, the Unmanned Aircraft System (UAS) market could take some unexpected turns. Investment is soaring, but many companies are directing their funds to untested applications.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Drones Services Market by Type of service, by end-user & by region at https://www.goldsteinresearch.com/report/drone-services-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
Growth Drivers and Restraints
Expanding applications of commercial drones in various industries, rising need of drone services for search and rescue operation in military and law enforcement bodies & growing Investments in Drones Technology are driving the drone services market to newer heights. However, rising concerns for privacy and stringent regulations by the aviation authorities for using drone in civil aviation airspace & shorter flight time of drones are the major factors limiting drone services and its market growth. On the other hand, surge in demand from end-use industries is expected to create lucrative opportunities in the near future.
“Global Drone Services Market Outlook 2024” by Goldstein Research contains the detailed overview of the global drone services market. The report highlights the competitive outlook of major players that includes business strategies, product portfolio, revenue distribution, financial analysis, services innovations, and investments. The in-depth analysis of this report report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major players of drone services market discussed in the report are:
• Drone Deploy
• ABJ Drones
• AeroVironment Inc.
• Sky-Future Ltd.
• Hawk Aerial
• SenseFly Ltd.
• Cyberhawk Innovations Ltd.
• Trimble UAS
• Precision Hawk
• CAT UAV
Further, the report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. It also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.
Sample for the above report can be requested at https://www.goldsteinresearch.com/request-sample/drone-services-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
About Goldstein Research
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Source: EIN Presswire