Drone market to grow by USD28.5b with CAGR of 36.7% by 2025 – new Technavio report

The commercial drones market size is expected to grow by USD28.54 billion and record a CAGR of 36.73% during 2021-2025, according to the Technavio report Commercial Drones Market by Product, End-user, and Geography – Forecast and Analysis 2021-25.

The post-pandemic market report has assessed the shift in consumer behaviour and has identified and explored upcoming trends, according to Technavio.

The report says North America will register the highest growth rate of 42.83% among the other regions. Therefore, the commercial drones market in North America is expected to garner significant business opportunities for the vendors during the forecast period. Other key markets include the UK, China, Canada, France and Japan.

The analysis segments the commercial drones market by product (Software and services and Hardware) ,end user (Infrastructure, Agriculture, Public safety, Energy, and Others) , and geographic (North America, Europe, APAC, South America, and MEA).

It identifies key vendors including 3D Robotics Inc., AeroVironment Inc., Autel Robotics, FLIR Systems Inc., Intel Corp., Parrot Drones SAS, Remote Monitored Systems plc, SZ DJI Technology Co. Ltd., Trimble Inc., and Yuneec International Co. Ltd.

Finally the report advises commercial drones market vendors should focus on grabbing business opportunities from the software and services segment as it accounted for the largest market share in the base year.

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