Global Utility Drones Market is valued approximately at USD 117.80 million in 2018 and is anticipated to grow with a healthy growth rate of more than 37.34% over the forecast period 2019-2026. Utility drones are anticipated to have a huge impact in the power & utility sector over the next few years. Operators in the energy industry are bringing the drone technology as it is accurate, quick, cost-effective and easy owing to powerful computers, improved efficiency and affordable drone technology thereby, boosting the adoption of utility drone market globally. Also, the utility drones helps to cut the costs of power line inspections for utilities. They also increase reliability, improve safety, and reduce response time across transmission and distribution systems. Further, growing demand for minimizing outages related to transmission infrastructure and surging adoption of drone technology are some major factors, driving the growth of the market. As, power outages have been a largest roadblock influencing the reliability of transmission systems globally. Reliability is a crucial aspect , especially for countries where energy prices are regulated. Also, Power utilities face backlashes from regulatory authorities in terms of penalties, every time there is a power outage. Drones is majorly used to minimize such problems by acting as an asset management tool. As a result, the adoption and demand for utility drones would increase thereby making its way for the growth of the market. However, stringent government regulations is the major factor that impede the growth of global Breast Imaging market.
The regional analysis of global Utility Drones Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising power consumption, increased investments in power infrastructure, and increasing focus on renewable power generation in the energy mix. Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2019- 2026. Factors such as establishment of long transmission lines and adoption of renewable energy sources coupled with the increasing private funding and investments in the development of power infrastructure would create lucrative growth prospects for the Asia-Pacific region during 2019-2026.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016-,2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Utility Drones Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers