The global Drone Service Market is estimated to be valued at US$ 12.57 Bn in 2023 and is expected to exhibit a CAGR of 39% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Drones offer cost-effective solutions for agriculture by collecting critical data through sensors, cameras, and thermal imagery. This helps farmers optimize their inputs, increase crop yields, and reduce waste. Drones are now commonly used for crop monitoring, crop spraying, and analytical services like mapping of farm fields.
Market key trends:
One of the major trends in the drone service market is the adoption of drones for precision agriculture. Drones equipped with advanced sensors are enabling precision farming techniques like monitoring of crop health, detecting diseases and pest infestations, analyzing soil conditions, mapping fields and automating irrigation. This allows farmers to treat only affected areas, optimize water, fertilizer and pesticide use. Drones generate huge volumes of data that can be analyzed using AI and analytics to derive actionable insights for improving farm productivity.
Segment Analysis
The drone service market is segmented by type into hardware, software and services. The services segment dominates the market and is expected to grow at a high CAGR during the forecast period. This is mainly due to the increasing deployment of drones for various applications which require drone maintenance services, data analysis services, drone training services and more. The demand for such services is increasing rapidly with the growing commercial drone market.
Key Takeaways
The global drone service market is expected to witness high growth, exhibiting a CAGR of 39.% over the forecast period, due to increasing adoption of drone services for applications across various industries such as infrastructure, agriculture, media & entertainment and others.
Regional analysis
North America dominates the global drone service market currently, owing to high adoption of drone services across various industries in the US and Canada. However, Asia Pacific region is expected to grow at the fastest rate during the forecast period due to rapid growth of drone service users in China, India and Southeast Asian countries.
Key players
Key players operating in the drone service market are Unmanned Experts Inc., Aerodyne Group, Terra Drone Corporation, Cyberhawk, Sharper Shape, Dronedeploy, Sensefly, Edall Systems, Precisionhawk, and Phoenix Drone Services LLC. The market is dominated by major players like Dronedeploy, Cyberhawk and Dronelife which offer a wide range of drone services.
