Drone Inspection and Monitoring System Market by Component (Hardware and Software), Type (Fixed Wing, Multirotor, and Hybrid), Mode of Operation (Remotely Piloted, Optionally Piloted, and Fully Autonomous), Industry Vertical (Construction & Infrastructure, Oil & Gas, Mining, Agriculture, Utilities, and Others): Global Market Size Estimates and Forecast (2019
The market is expected to cross US$ 6.25 billion mark in 2022 and is projected to hit US$ 15.16 billion by 2030, recording a CAGR of 10.3% during the forecast period.
Drone inspection and monitoring market has been significantly growing with the high adoption drones across the construction industry.
Drone are increasingly being adopted across the construction industry for various applications such as topographic mapping and land survey, construction equipment tracking, remote monitoring & progress report, security surveillance, personnel safety, and structure inspection & photography amongst others. The construction segment is expected to pace up with the rising adoption advanced and remote technologies for monitoring and inspection applications.
The hardware segment accounted for a significant share in the global drone inspection and monitoring market. This growth is attributed by the rising adoption of drones by various industries for such as construction & infrastructure, oil & gas, mining, agriculture, and utilities for ensuring proper inspection and monitoring which will further enable to take real-time decision on any emergency situations. For instance, Chevron in January 2022, announced its intensions to procure autonomous drones for oil field monitoring.
Within the report, the drone inspection and monitoring market is segmented into component, type, mode of operation, industry vertical, and geography. By component, the market is further segmented into hardware and software. On the basis of type, the drone inspection and monitoring market is segmented into fixed wing, multirotor, and hybrid. By mode of operation, the market is categorized into remotely piloted, optionally piloted, and fully autonomous. Based on industry vertical, the market is divided into construction & infrastructure, oil & gas, mining, agriculture, utilities, and others. Geographically, the drone inspection and monitoring market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Integration of technologies in drones is boosting the growth of Drone inspection and monitoring market
Drones are being increasingly adopted for applications such as inspection and monitoring across industries such as construction & infrastructure, oil & gas, mining, agriculture, and utilities for visual inspection & monitoring of assets. Inspection &monitoring plays a vital role across all the above mentioned industries to ensure the smooth function of all assets, leading to efficient business operations. With the increased usage of drone-based inspection and monitoring, all risks associated with inspection activities are reduced thereby ensuring safety of all site workers.
Increase concern of human safety involved in inspection & monitoring activities is one of the major factors accelerating the drone inspection and monitoring market growth.
The major mode of operation of drones for inspection and monitoring include remotely piloted, optionally piloted, and fully autonomous. The fully autonomous segment is expected to grow with a rapid pace owing to the high adoption of automation technologies across industries. The adoption of automated drone inspection & monitoring solutions increases the efficiency of the activity, time taken and reduces risk on humans.
Recent strategic developments in drone inspection and monitoring market
The drone inspection and monitoring market has undergone several significant developments, and a few of these have been mentioned below:
- DJI in April 2021 announced the launch of developed a new DJI Air 2S. DJI Air 2S is a compactly designed camera drone for effective flight. It is equipped with advanced cameras for effective inspection and monitoring.
- Parrot Drones and Pix4D in September 2020 announced the new ANAFI USA drones which is compatible with Pix4D software suite for monitoring and inspection applications across industries.
The drone inspection and monitoring market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Maverick Inspection Ltd; Garuda UAV; Equinox's Drones; FlytNow; American Robotics, Inc.; MICRODRONES; Parrot Drone SAS.; PRECISIONHAWK; Trimble Inc.; and DroneDeploy are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Drone Manufacturers
- Drone Solution Providers
- Drone inspection service providers
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Product Type:
- Fixed Wing
- Mode of Operation
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
- Industry Vertical
- Construction & Infrastructure
- Oil & Gas
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Maverick Inspection Ltd
- Garuda UAV
- Equinox's Drones
- Maverick Inspection Ltd
- Garuda UAV
- Equinox\'s Drones