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USD 21,7043.6 Mn Global Commercial Drone Market Size Expected to Grow at a CAGR of over 56.4% During 2022-2028 | Vantage Market Research

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WASHINGTON, Sept. 05, 2022 (GLOBE NEWSWIRE) — Drones are hired for a variety of tasks, including filming and emergency response. Due to their capacity to survey the property, offer ongoing and accurate project alerts, increase safety, and prevent hazardous accidents on construction sites, these devices are also in high demand in the real estate and construction sectors. As a result, drone business use cases have expanded significantly over the past few years. Participants in the industry, such as producers of drones and software, are continuously developing, evaluating, and upgrading solutions for diverse markets. The Global Market revenue was valued at USD 14,829.5 Million in 2021.

The Global Commercial Drone Market size is forecast to reach USD 21,7043.6 Million by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 56.4% during the forecast period; states Vantage Market Research, in a report, titled Commercial Drone Market Size, Share & Trends Analysis Report by Product (Fixed Wing, Rotary Blade, Hybrid), by Application (Filming & Photography, Inspection & Maintenance, Mapping & Surveying, Precision Agriculture, Surveillance & Monitoring, Other Applications), by End Users (Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

Key Industry Findings & Insights from the report:

  • The global Commercial Drone Market was valued USD 14,829.5 Million in 2021 and is all set to surpass USD 21,7043.6 Million by 2028, exhibiting a CAGR of 56.4% during the forecast period 2022-2028.
  • In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
  • North America captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Commercial Drone industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

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Market Dynamics:

Drivers:

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Increasing Demand for Small Drones in Commercial Applications

The market is anticipated to grow as a result of the growing use of small uncrewed aerial vehicles for a variety of commercial purposes, including aerial photography, filmmaking, precision agriculture, law & order, wildlife monitoring, entertainment, disaster management, relief & rescue operations, research & development, logistics & transportation, and construction. In addition, small drones are being widely adopted by a number of engineering firms and other businesses for several commercial tasks. In-depth project inspection, maintenance, transmission cable inspection, and oil pipeline inspection are other important commercial uses. In the upcoming years, a demand increase for unmanned systems in the oil and gas, energy, and power generation sectors is likely to drive market expansion. Furthermore, due to a rise in demand for home delivery services for food and e-commerce platforms, the primary technology giant Amazon Inc. and giant logistic companies, such as UPS, DHL, and FedEx, are investing heavily in developing drone delivery platforms. During the forecast period, a surge in demand for online food delivery services across the globe is anticipated to fuel small drone demand.

The Federal Aviation Administration (FAA) gave Amazon’s Prime Air permission to use its platform for air drone delivery services in August 2020. The business intends to use a new drone delivery system to extend unmanned package delivery. Amazon promised to deliver packages to its customers in less than an hour and a half.

Development of Remote Sensing and Advanced ADS-B Transponder Technologies

Drones are ideal for precisely deploying advanced sensors in quasi-static 3D space. Due to their maneuverability and capacity to fly at any low speed, Commercial Drone Markets provide precision flight control and operations even in windy areas. Drone use for infrastructure inspection, photogrammetric survey, and forest monitoring are rising in popularity. These programs are built around remote sensing operations. To transmit extremely exact location information to the ground-based operators and also directly to other drones, ADS-B uses a trig transponder that is combined with a GPS. The precision of this information transmission, known as ADS-B Out, is greater than that of traditional radar monitoring. As a result, drones equipped with ADS-B give air traffic controllers the option to reduce the desired departure distance between drones. A long-range UAV with an air-cooled boxer engine and fuel injection is called the High Eye Air boxer. The UAV has a payload capacity of 5 kg and can be equipped with numerous payloads, sensors, and other hardware, making it a highly adaptable platform suitable for combat operations.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide and the Global Commercial Drone Market is not an exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Commercial Drone Market suffered as the manufacturing units around the world were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies which are the backbone technology providers to the Commercial Drone Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Commercial Drone Market industry too is taken into consideration as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.

The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Commercial Drone Market has considered the impact of COVID-19 on the Commercial Drone Market globally and the subsidiaries for the Commercial Drone Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Commercial Drone Market industry for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic

a. North America

b. Europe

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c. Asia Pacific

d. Latin America

e. Middle East & Africa

  1. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  2. Key Strategies Undertaken by Companies to Tackle COVID-19
  3. Long-Term Dynamics
  4. Short-Term Dynamics

The report on Commercial Drone Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/commercial-drone-market-1823

Regional Analysis:

North America is expected to dominate the growth of Commercial Drone Market in 2021. North America is predicted to steer the Commercial Drone Marketplace proportion dueto the growing use of Commercial Drone Markets and the presence of major drone manufacturers in the U.S. For instance, In May 2021, the Federal Aviation Administration (FAA) reported that 872,694 drones had been registered in the country.

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List of Prominent Players in Commercial Drone Market:

  • Aeronavics Ltd.
  • AeroVironment Inc.
  • Autel Robotics
  • DJI
  • Draganfly Innovations Inc.
  • EHang Inc.
  • Intel Corporation
  • Parrot Drones SAS
  • PrecisionHawk Inc.
  • Yuneec

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on “Commercial Drone Market Size, Share & Trends Analysis Report by Product (Fixed Wing, Rotary Blade, Hybrid), by Application (Filming & Photography, Inspection & Maintenance, Mapping & Surveying, Precision Agriculture, Surveillance & Monitoring, Other Applications), by End Users (Agriculture, Delivery & Logistics, Energy, Media & Entertainment, Real Estate & Construction, Security & Law Enforcement, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)“.

Recent Developments:

January 2022, Azur Drones announced new funding of roughly USD 9.06 million to assist its expansion in 2022, following a year of great growth, particularly internationally. This round of funding, which was done with a private French investor, raises the total amount raised since 2016 to over USD 40.16 million. It should help the French SME, which is the market leader in drone-in-a-box solutions, consolidate its position.

February 2022, Saudi Arabia and a key regional telecoms business announced a deal to develop Commercial Drone Market technology. The King Abdulaziz City for Science and Technology and Zain Saudi Arabia signed a memorandum of agreement. According to the Saudi Press Agency, the two will collaborate on drone research and development.

Key Questions Answered in The Report:

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  • Which region will show the fastest and highest growth in the near future?
  • Which are the top five players and their weakness and strength of the Market?
  • What will be the future innovation in the upcoming six years?
  • Which application and product will lead the largest share of the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What will be the CAGR and size of the Commercial Drone Market for the base year and forecast period?

This market titled “Commercial Drone Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered  • Product
     • Fixed Wing
     • Rotary Blade
     • Hybrid

 • Application
     • Filming & Photography
     • Inspection & Maintenance
     • Mapping & Surveying
     • Precision Agriculture
     • Surveillance & Monitoring
     • Other Applications

 • End Users
     • Agriculture
     • Delivery & Logistics
     • Energy
     • Media & Entertainment
     • Real Estate & Construction
     • Security & Law Enforcement
     • Other End Users

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East & Africa

Region & Counties Covered  • North America
     • U.S.
     • Canada
     • Mexico
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 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered  • Aeronavics Ltd.
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 • AeroVironment Inc.

 • Autel Robotics

 • DJI

 • Draganfly Innovations Inc.

 • EHang Inc.

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 • Intel Corporation

 • Parrot Drones SAS

 • PrecisionHawk Inc.

 • Yuneec

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Customization of the Report:

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We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

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Artificial Intelligence

Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market

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SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.

Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ  Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/ 
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144298529
Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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