Global Utility Drones Market to Grow at 30% CAGR till 2024
Technological advancements
coupled with favorable government regulations to drive global utility drones
market through 2024
According to TechSci Research report, “Global Utility
Drones Market By Type, By Services, By End-User, By Region, Competition,
Forecast & Opportunities, 2024”, global utility drones market is
projected to grow at a CAGR of
over 30% during 2019-2024, on the back of growing need to reduce outage
within energy transmission and distribution sector. Utility drones market is
gaining impetus due to rising adoption of drone technology to increase business
operations and impart better safety. By end-user, global utility drones market has
been categorized into power and renewable segments. In 2018, power segment
dominated the market and is expected to account for majority share in global utility
drones market during the forecast period as well, owing to rising demand for
electricity.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on "Global Utility Drones Market"
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In terms of services,
end-to-end solution category accounted for the largest share in 2018 and is
likely to maintain its market dominance in coming years. The leading position
of end-to-end solution category can be majorly attributed to its wide adoption
by utility, owing to the availability of expertise required to obtain accurate
data. North America is the largest demand generating region for utility drones
across the globe, backed by increasing investments in power infrastructure, growing
power consumption and rising focus on renewable power generation. The US
utility drones market dominated the North American region in 2018, owing to wide
acceptance of technological advancements and various government initiatives to
promote renewable power generation.
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“Global utility drones market is
anticipated to register robust growth over the course of next five years, on
account of technological advancements in the field of UAVs, in addition to time
and cost efficiency offered by these UAVs. Utility drones have a healthy growth
landscape, as they are widely used in the power and renewable sector, where
they help in cutting down operational and maintenance costs, along with
increasing worker safety considering the drones’ ability to operate in
potentially dangerous areas.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global
Utility Drones Market By Type, By Services, By End-User, By Region,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth
potential of global utility drones market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global utility drones market.
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