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Drone Inspection and Monitoring Market Size, Share, Revenue Opportunity, Competitive Analysis and Forecast 2022-2030

The global drone inspection and monitoring market revenue was US$ 7.47 billion in 2021. The global drone inspection and monitoring market revenue is forecast to reach US$ 35.15 billion by 2030, growing at a compound annual growth rate (CAGR) of 16% during the forecast period from 2022-2030.

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The drone inspection and monitoring concept apply to inspection, monitoring, and mapping operations. Companies can use this platform to plan and conduct operations, monitor drones in real-time, and create reports and analyses directly from their offices.

Factors Influencing Market Growth

An increase in the demand for safe, accurate inspection and monitoring devices and technological advancements in drones are forecast to drive growth in the global drone inspection and monitoring market.

The increase in the use of drones for remote visual inspections of critical infrastructure is boosting the overall drone inspection and monitoring market growth.

The lack of trained personnel to operate drones for inspection and monitoring applications has a negative impact on the global drone inspection and monitoring industry.

As lidar technology advances for commercial drones, lucrative opportunities are forecast for the global drone inspection and monitoring market.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Drone Inspection and Monitoring Market.

Impact Analysis of COVID-19

COVID-19 outbreak spread increased the demand and use of drones, as their benefits outweighed the risks and difficulties of using them. Many countries use them for delivering vaccines for COVID-19 as well as inspecting and monitoring outbreaks in remote areas. Throughout the world, police officers and government officials use drones to accomplish remote policing and impose social distancing.

Lockdowns have been imposed worldwide, along with social distancing protocols. Consequently, drone production was interrupted due to a shortage of raw materials and personnel in 2020. Similarly, in 2021, due to the reemergence of the second wave of infections, drone production suffered, and it may take more than six months for the drone supply chain to resume normal functioning.

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Regional Insights

During the forecast period, Asia Pacific is forecast to register the highest CAGR for drone inspection and monitoring market. Growing economies like China and India use drones for inspection and monitoring tasks in agriculture and utilities, thus contributing to the growth of this regional market.

North America is forecast to be the largest market during the forecast period. Drones can perform a number of functions without human assistance due to the incorporation of artificial intelligence, such as takeoff, navigation, data collection, transmission, and data analysis. Thus, growing advances in artificial intelligence, sense and avoid systems, and cloud computing technologies contribute to the regional market growth.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

Leading Competitors

The leading prominent companies profiled in the global drone inspection and monitoring market are:

American Robotics, Incorporated

AeroVironment Incorporated

AgEagle Aerial Systems Incorporated

SZ DJI Technology Co., Limited

Israel Aerospace Industries

Microdrones

Parrot Drones SA

PrecisionHawk

Trimble Incorporated

Yamaha Motor Corporation

Other Prominent Players

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Scope of the Report

The global drone inspection and monitoring market segmentation focuses on Solution, Type, Operation Mode, Application, and Region.

Segmentation based on Solution

Platform

Airframe

Avionics

Propulsion

Payload

Software

Infrastructure

Services

Segmentation based on Type

Fixed Wing

Multirotor

Hybrid

Segmentation based on Operation Mode

Remotely Piloted

Optionally Piloted

Fully Autonomous

Segmentation based on Application

Construction & Infrastructure

Oil & Gas

Mining

Agriculture

Utilities

Others

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Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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Updated : 2022-01-21 04:15 GMT+08:00

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