A comprehensive overview of the Global Utility Drone Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Utility Drone market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Utility Drone market at regional and country levels. Global Utility Drone Market generated revenue of around US$ 312.3 million in 2020 and is expected to grow at a CAGR of about 35.0% during the analysis period (2021-2027).
Utility drone provider constantly monitor their delivery systems to ensure that consumers and businesses have access to utilities they need. Using an unmanned utility drone instead of a manned aircraft reduces the cost and improves the integrity of aerial utility inspections. Utility drones are equipped with infra-red cameras of very high resolution that can capture minute details in power infrastructure. Through these cameras, drones take detailed images of power infrastructure. The infra-red cameras also have thermal imaging and LIDAR (Light Detection and Ranging) capabilities which help drones detect overheated power components such as overheating of cables, transformers, etc. These drones first capture images that are sent for analysis, and preventative actions are taken based on data analysis.
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Utility drones market has seen significant surge during 2020 due to the impact of Coronavirus pandemic. Drones had proved to be versatile and effective tools in the Coronavirus epidemic. Various countries across the globe hesitated to fully exploit its potential of drones due to rules and regulations due to the concern for potential safety, security, privacy and environmental issues. However, drone deployment in the Covid-19 crisis has offered a learning opportunity for how airspace regulations could be updated to facilitate their use ─ also beyond emergency response. In the pandemic, drones are being used for contact-free delivery, surveillance, enforcement, and hygiene applications. As need to reduce human contact as a health precaution in the time of Covid-19 has provided a boost to the use of drones.
Global Utility Drone Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Services, the market is primarily bifurcated into:
Based on service, the market is classified into end to end solution and point solution. The end to end solution segment generated revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027. This solution includes the provision of the drone, drone pilots, engineers; software, data management, processing, and analytics; drone advisory services; and consulting, among several other services that helps in obtaining accurate data on utilities assets.
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By type, the market is mainly segmented into:
Currently, multi-rotar segment grabbed X% market share of the global utility drones Market and gathered revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027 owing to the easy availability and affordability in the market.
By End-Use, the market is mainly classified into:
Currently, conventional power captures dominant share in utility drones market and expected to increase in the forecasted period as well. It is mainly owing to the factors such as using utility drones for the power industry include cutting down of operation and maintenance costs; boosting of worker safety considering their ability to fly in potentially dangerous areas; use of little or no fuel; and negligible environmental impact are driving the market.
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Global Utility Drone Market Geographical Segmentation Includes:
Based on the estimation, North America dominated the market in 2020. North America constitutes the largest market for the industry and generated revenue of USD X billion in 2020 predominantly due to the investments in power infrastructure monitoring and management.
The major players targeting the market includes:
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts’ sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Utility Drone Market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
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