Selbyville, Delaware,, June 06, 2023 (GLOBE NEWSWIRE) -- The drone inspection and monitoring market valuation is predicted to surpass USD 5 billion by 2032, as reported in a research study by Global Market Insights Inc.
Rapid advancements in drone technology and their increasing applications across multiple industries. According to the FAA, in 2022, there were almost 900,000 drones registered in the United States alone. Drones have become an essential tool for conducting inspections and monitoring tasks in various sectors, including agriculture, energy, infrastructure, and public safety, among others. Industry growth is fueled by factors such as the increasing adoption of drones for industrial purposes, advancements in drone hardware and software, and supportive government regulations.
Based on solution, the drone inspection and monitoring market is divided into software, services, infrastructure, and platform. The software solutions segment will register over 15% CAGR through 2032. Advanced software is used extensively for drone inspection and monitoring applications, such as flight planning, data processing, and analysis tools. As the demand for advanced data analytics and real-time monitoring increases, the importance of software solutions in the market has also grown.
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Innovations in artificial intelligence, machine learning, and computer vision technologies have further propelled the growth of this segment. The integration of drone technology with advanced software solutions is revolutionizing the inspection and monitoring processes, offering enhanced accuracy, real-time monitoring, and cost savings.
With regards to application, the drone inspection and monitoring market is categorized into agriculture, construction & infrastructure, utilities, oil & gas, mining, and others. The agriculture segment will be worth more than USD 5 billion by 2032. Drones equipped with advanced sensors and cameras can capture high-quality images and data, which can be used for various agricultural purposes, such as crop health monitoring, irrigation management, and pest detection.
By enabling precise and efficient monitoring of crops, drones have revolutionized the way farmers manage their fields, leading to increased productivity and reduced resource consumption. As a result, the adoption of drones in agriculture is gaining momentum, creating significant opportunities for the market.
Europe drone inspection and monitoring market will exhibit more than 10% growrh through 2032, driven by factors such as supportive government policies, investment in research and development, and increasing awareness about the benefits of drone technology. European countries like the United Kingdom, Germany, and France are leveraging drones for infrastructure inspection, environmental monitoring, and public safety applications.
On November 29, 2022, the European Commission adopted the European Drone Strategy 2.0. The Strategy is focused on improving the region’s capacity to explore large-scale commercial drone operations, as well as new opportunities for drone integration, particularly for small and medium-sized businesses. Additionally, the growing focus on renewable energy and the need for efficient inspection and maintenance of wind turbines and solar panels are fueling the demand for drone-based inspection and monitoring solutions across Europe.
America Robotics, Aerovironment Inc, Mistras Group plc, Intertek group plc, Lockheed Martin Corporation, Wipro, Intel Corporation, DJI (Dà-Jiāng Innovations), Northrop Grumman Corporation, and Delair are among the major players in the drone inspection and monitoring market.
Drone Inspection and Monitoring Industry News
- May 2023— Flyability and Mirion Technologies joined forces to introduce a new radiation surveying payload for the Elios 3 indoor inspection drone. Through the new solution, the firms will integrate Flyability’s Elios 3 indoor drone with the Mirion RDS-32™ radiation survey meter. This will allow users collect radiological data and map the environment simultaneously and localize data in a high-resolution 3D model of their asset, making the Elios 3 the first commercially-available drone to have the ability to perform indoor radiation and localization remotely.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Drone inspection and monitoring market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Solution trends
2.5 Type trends
2.6 Mode of operation trends
2.7 Application trends
Chapter 3 Drone Inspection and Monitoring Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising integration of AI/ML
3.10.1.2 Increasing supportive regulations
3.10.1.3 Development of advanced sensor technologies
3.10.1.4 Growth in the use of agricultural drones
3.10.1.5 Increasing focus on enhancing safety
3.10.2 Industry pitfalls & challenges
3.10.2.1 High purchase and maintenance cost
3.10.2.2 Security concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
