NEWARK, Del, Dec. 09, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights' most recent market estimate, the autonomous drone platform market is worth US$ 8.3 billion in 2023 and US$ 24.9 billion by 2033. A CAGR of 12.8% is anticipated in the market during the forecast period.
To meet the demands of diverse end users, a number of drone operators are rapidly extending their operations, which is likely to increase productivity and industrial output. This is anticipated to fuel the demand for autonomous drone platform during the anticipated period.
Drones can also save time and money, as they operate with fewer people and lack safety infrastructure. They can also enhance data analytics, which aids companies in understanding and forecasting operating performance.
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Even new business models and opportunities in some industries are made possible by the adoption of an autonomous drone platform. The main drivers for investments in the autonomous drone platform industry are the sizeable commercial market potential, the declining costs of drone parts, and technological improvements in artificial intelligence (AI) and analytics.
Small drone demand has led to the development of autonomous drones that can fly without human control. Autonomous drones can perform jobs like surveillance, mapping, and delivery in a safer and more efficient manner than manually controlled drones.
The US government has also taken steps to encourage the use of autonomous drone platforms for a variety of tasks, including package delivery, search and rescue operations, monitoring and surveillance, and more.
Increased market growth is anticipated to be fueled by growing research and development initiatives in the realm of autonomous drone platforms.
Key Takeaways
- The autonomous drone platform market is likely to have a CAGR of 12.8% during the forecast period.
- Historically, the autonomous drone platform market had a CAGR of 12.7% between 2018-2022.
- The value of the autonomous drone platform market is expected to be US$ 24.9 billion by 2033.
- Based on application, the defense & military dominates the autonomous drone platform market with a CAGR of 15.8%
- Based on industry, the agriculture industry dominates the autonomous drone platform market with a CAGR of 4.9%.
- North America shows significant growth in the autonomous drone platform market, with a share of 21.2% in 2021.
- Europe has a significant market share of 19.7% in the autonomous drone platform market.
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Competitive Landscape
Due to the industry's relative youth, the majority of investments have not yet produced the anticipated exits or IPOs. Since 2012, there have been 34 exits and IPOs, and more are expected in the upcoming years.
The financings have also tended to favor early-stage businesses, with more than two-thirds of corporate deals occurring at the seed or series A level over the course of the previous five quarters.
Additionally, business initiatives aim to break into specific markets or develop expertise in specific industries. For example, "detect-and-avoid" capabilities would give drones the "sense" to avoid collisions and successfully complete their missions.
Recent Development:
- A number of businesses, including Amazon, DJI, and Microsoft, are collaborating to create more robust and user-friendly autonomous drone systems. These collaborations are encouraging the development of cutting-edge hardware and software components that enable autonomous drone flight.
- The most active venture capitalist, having so far invested in six companies, including those that deal with distribution, 3D mapping, pipe inspection, business solutions, and autonomous solutions. Qualcomm also acquired Kmel Robotics to enhance their cellular technology inside drone operations and launch their own robotics business solutions.
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Key segments
By Industry:
- Agriculture
- Aerial Photography
- Emergency Management
- Inspection and Monitoring
- Remote Sensing & Mapping
- Wildlife Research
- Others
By Application:
- Infrastructure Inspection
- Surveying
- Agriculture
- Photography and Videography
- Defense & Military
- Others
By Enterprise Size:
- Small Office Employees (1-9 employees)
- Small Enterprises (10-99 employees)
- Medium-sized Enterprises (100-499 employees)
- Large Enterprises (500-999)
- Very Large Enterprises (1000+ employees)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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