Commercial Drones Market to Exceed $4.5 Billion in 2020
Market estimated to cross $2 billion in the next 3 years
Singapore -- (ReleaseWire) -- 02/22/2016 --Arcluster is excited to announce the publication of its 2016 Forecast Report on the Commercial Drones Market (2015 – 2020). The market for commercial drones is expected to exceed $4.5 billion in the next five years, growing at over 60% during this period. The report covers the market dynamics, assumptions, forces, segments, sizes and forecasts of commercial drones for the period 2015 – 2020, and is targeted primarily at providing the market trends and forecasts with demand side insights and key vendor profiles.
Information pertaining to Arcluster's syndicated study on commercial drones and the report's Table of Contents (TOC) is available here. The report spans 20 pages, and contains 12 tables and figures.
Market data, which forms the backbone of the study, has been gathered through a rigorous period of information from both secondary and primary sources through interviews with industry participants, manufacturers, enterprises, small and medium businesses, channel players and regulators. Data gathered from these interviews and surveys was analyzed, and engineered to understand spending, demand and supply patterns and to estimate market sizes and forecasts. The resultant data was cross-checked through market-data associations and then validated through multiple consistency check points.
Findings from the study indicate that the market for commercial drones is estimated to exceed $2.15 billion in the next 3 years and expected to reach $4.53 billion in 2020, growing at a CAGR of 60% between 2015 and 2020. Commercial drones employed in farms alone are forecasted to account for $1.08 billion in 2020, representing 30.7% of the overall market. Among other verticals, the market for drones employed in Logistics and supply chain and News, Media and Entertainment is expected to grow at above 75% CAGR. During the forecast period, the market for services is expected to outgrow the market for software. This is a key indicator for mass market enterprise pick up of the consumeristic nature of drones. The report also states that North America contributes to approximately 30% of the revenues in the overall commercial drones market through the forecast period.
The market for commercial drones is segmented into three categories – Segments, Verticals and Regions. Each of these categories are further segmented by types.
By Segments – the market size and forecasts for commercial drones are provided by Hardware, Software and Services.
By Verticals – the market size and forecasts are provided for 7 verticals – Energy and Utilities, Agriculture, Real Estate, Mining and Construction, News, Media & Entertainment, Logistics and Supply Chain & Others.
By Regions – the market size and forecasts are provided for 5 regions – North America, Europe, Middle-East & Africa, Central/Latin America and Asia-Pacific.
Arcluster's forecast report on commercial drones is a useful marketing, strategy and business planning aid to companies and corporations that cater to the UAV and drones market. Readers can benefit from the wealth of quantitative market data on various segments and perspectives across the ecosystem. These data points can be valuable enablers for decision makers to quickly understand the current and evolving market opportunities, helping them to make marketing decisions and solutions.
The 2016 forecast report on Commercial Drones is part of an ongoing series of market reports that focus on micro emerging trends, market sizes and forecasts of drones and UAVs across multiple regions and countries. You can procure the Commercial Drones Market Forecast Report directly from our online research store and receive the report instantly.
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