Artificial Intelligence
Growth Report: Drone Battery Market Worth $2.45 Billon, Globally, by 2028 at 16.2% CAGR | The Insight Partners
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Pune, India., April 10, 2023 (GLOBE NEWSWIRE) — According to our latest study on “Global Drone Battery Market Growth Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Drone Type, Battery Type, Battery Capacity, Industry, and Geography” the market was valued at US$ 994.97 million in 2022 and is expected to reach US$ 2,450.56 million by 2028; it is anticipated to register a CAGR of 16.2% from 2022 to 2028.
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Global Drone Battery Market Growth Drivers:
• Increasing adoption of drones for various commercial and military applications, such as aerial photography, inspection, surveying, and surveillance.
• Advancements in drone technology, leading to the development of drones with longer flight times and higher payload capacity, which require more powerful batteries.
• Growing demand for high-performance batteries with longer lifespan and faster charging capabilities to meet the evolving needs of drone users.
• Increasing investments in research and development activities to develop new and improved drone batteries with enhanced properties and performance.
• The growing trend of using renewable energy sources in the production of drone batteries, such as lithium-ion batteries, to reduce carbon emissions.
• The increasing demand for drones in the agriculture sector, leading to a growing demand for high-performance drone batteries for crop monitoring and spraying.
• The rising popularity of recreational drones, leading to increased demand for affordable and reliable drone batteries.
• The growing trend of using drones for delivery and transportation purposes, leading to a growing demand for high-performance batteries with longer flight times.
Global Drone Battery Market Recent Developments:
• Development of new and improved battery chemistries, such as solid-state batteries, which offer higher energy density, longer lifespan, and faster charging capabilities.
• Advancements in battery management systems (BMS) to improve battery safety and prevent issues such as overcharging and overheating.
• Increasing adoption of renewable energy sources in the production of drone batteries, such as solar and wind power, to reduce carbon emissions and improve sustainability.
• Growing investments in research and development activities to develop new materials and technologies for drone batteries, such as graphene and nanotechnology.
• Increasing use of artificial intelligence (AI) and machine learning (ML) in drone battery management to optimize battery usage, prolong lifespan, and improve safety.
• Introduction of smart drone batteries with features such as real-time monitoring, remote diagnostics, and automatic shut-off to improve safety and performance.
• Growing partnerships and collaborations between drone manufacturers and battery manufacturers to develop integrated solutions that offer improved performance and safety.
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The global drone battery market is a moderately fragmented market with considerable regional and local players providing solutions for retailers across the globe. Asia Pacific dominated the global market in 2022, accounting for ~39% of the drone battery market share, followed by North America and Europe. The region is known for adopting drone technologies at an early phase. One of the major factors fueling the drone battery market growth in Asia Pacific is the presence of drone companies in the countries such as China, Japan, India, and South Korea. Furthermore, numerous drone manufacturing companies such as DJI across the region manufacture a variety of consumer and commercial drones for different applications. China accounts for more than 60-65% share of the global drone market, which is another major factor for the high penetration of drone batteries across the region. Moreover, Asia Pacific is expected to retain its dominance in the global drone battery market and register the highest CAGR during the forecast period. This is mainly due to increased investments in drone technologies by different industry verticals such as agriculture, forestry, infrastructure, mining, sports, etc. Drones are expected to become part of daily operations across industries such as insurance and journalism in the coming years. Such factors are also likely to drive the drone battery market during the forecast period.
Further, North America is estimated to be the second most dominant region in the global drone battery market in 2022. This is due to the presence of many small drone manufacturing companies across countries such as the US and Canada. A few of the major drone manufacturers across the region include Freefly Systems, Flir, Dragonfly, Ascent Aerosystems, and AgEagle. These companies constantly produce new drone products to cater to the growing market demands to remain competitive in their respective marketplace. Moreover, the US has already banned the sale of China-based products, which is one of the major factors leading to the low penetration of China-based drone companies in the US market. This is one of the major disadvantages for China-based companies despite being highly ranked in the global drone industry. Such factors have been hampering the drone battery market growth of China-based manufacturers that operates across North America region, thereby providing new opportunities for North America drone battery manufacturers to cater to the growing customer demand and remain competitive in the market across the region.
In addition, Europe accounted for the third largest drone battery market share in 2021 and is expected to retain its position during the forecast period as well. Most drone manufacturers across the region procure drone batteries from international companies, as the presence of drone battery manufacturers, specifically for mini and micro quadcopters, is significantly low.
Global Drone Battery Market: COVID-19 Overview
The onset of the COVID-19 outbreak has severely affected the drone battery industry across the globe. The outbreak hampered the operations of construction industries as their facilities were shut down to prevent the spread of COVID-19, which directly impacted the import and export of drone batteries. Companies operating in the drone battery market had to make tough choices to sustain during the pandemic and the post-pandemic recovery period. The onset of the COVID-19 pandemic led to disruptions in the raw material supply chain, which led the market players to witness a slowdown in production. However, by mid-2020, the drone market had gained momentum. Official bodies started using drones for public surveying, inspections, and monitoring owing to social distancing requirements. Due to the use of drones for surveying, the drone battery market witnessed substantial growth.
Global Drone Battery Market: Drone Type Overview
Based on drone type, the drone battery market is bifurcated into mini quad and micro quad. According to the drone battery market analysis, the mini quad segment accounted for a larger drone battery market share in 2022 and is expected to retain its dominance during the forecast period.
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Global Drone Battery Market: Competitive Landscape and Key Developments
AMIT industries L.T.D, Amperex Technology Limited, Autel Robotics, MMC-UAV, Eaglepitcher Technologies, Parrot Drone SAS, Maxamps, Shenzhen Grepow Battery Co, DJI, and RRC Power Solutions are a few of the key drone battery market players profiled in the study.
In August 2020, Amperex Technology Limited, the supplier of Lithium-ion batteries, acquired a 180-acre land at US$ 75 million in Haryana, India. The company has two cell manufacturing facilities in China; however, due to India-China border tension, the company has decided to invest in an India-based manufacturing unit.
In March 2021, Grepow’s sub-brand Gensace announced the launch of its new battery charger with 3rd generation IMARS III—an AC/DC balance battery charger with maximum 100W output.
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UAV Battery Market Forecast to 2028 – COVID-19 Impact and Global Analysis
Battery Testing Equipment Market – The global battery testing equipment market size was valued at US$ 494.33 million in 2021 and is projected to reach US$ 682.98 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.
Industrial Battery Market – The global industrial battery market size was valued at US$ 12,501.9 Mn in 2019 and is expected to grow at a CAGR of 7.3% from 2020 to 2027 to reach US$ 21,893.5 Mn by 2027.
Battery Cyclers Market – The global battery cyclers market size is valued US$ 208.14 million in 2022, it is expected to grow at a CAGR of 6.2% from 2022 to 2028
UPS Battery Market – The global UPS battery market size was valued at US$ 695.6 million in 2020 and is projected to reach US$ 1,475.7 million by 2028; it is expected to grow at a CAGR of 10.6% from 2021 to 2028.
Lithium Ion Battery Market – The global lithium ion battery market size is anticipated to reach US $71.0 billion by 2025 from US$ 26.9 billion in 2018 thereby registering a moderate CAGR growth rate of 14.9% during the forecast period.
Battery Separators Market – The global battery separators market size is expected to grow from US$ 5.6 billion in 2022 to reach US$ 9.5 billion by 2028 and it is estimated to grow at a CAGR of 9.0% between 2022 and 2028.
Battery Management System Market Forecast to 2028 – Covid-19 Impact and Global Analysis
Battery Monitoring System Market Forecast to 2028 – Covid-19 Impact and Global Analysis
Drone Inspection and Monitoring Market Forecast to 2028 – COVID-19 Impact and Global Analysis
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
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Artificial Intelligence
atNorth Wins ‘Colocation Provider of the Year’ and ‘Digital Infrastructure Project of the Year’ at Industry Award Events
AtNorth recognized at the Electrical Review & Data Centre Review Awards and the Tech Capital Awards.
REYKJAVÍK, Iceland, May 24, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider has today announced further acknowledgement in the industry as it wins two significant awards.
The business has been awarded the `Colocation Provider of the Year’ award at the Electrical Review & Data Centre Review Awards. atNorth has undertaken a significant expansion strategy in recent years, that has ensured that the business can offer high performance infrastructure at speed and scale. This award reflects the business’ growth journey as it continues to innovate and adapt to technological advancements and client requirements.
atNorth has also won the `Digital Infrastructure Project of the Year’ at the Tech Capital Awards for its work with client, Shearwater Geoservices. The global marine imaging and processing leader achieved a 92% reduction in CO2 output and an 85% reduction in cost by moving a portion of its UK HPC infrastructure to one of atNorth’s Icelandic data center sites.
Fueled by the abundant renewable power sources of the Nordics, atNorth`s services deliver performance and efficiency for high density workloads in a sustainable way that enables clients to decarbonize their IT footprint and reduce overall costs.
Winners are voted for by a panel of industry experts for both awarding bodies in a process that aims to recognize the outstanding achievements within the digital infrastructure industry.
“We are thrilled to receive these acknowledgments for our data center services”, says Eyjólfur Magnús Kristinsson, CEO at atNorth. “atNorth has experienced significant growth over the last couple of years and this industry recognition is a testament to our dedication to delivering excellence across the board. We are determined to continue decarbonizing the world’s most demanding workloads in an efficient, sustainable, and cost-effective way.”
The news follows atNorth’s announcements of colocation clients Crusoe, BNP Paribas and Advania. The business has also received recent recognition from multiple other awarding bodies including; the Datacloud Global Awards, the Energy Awards, TechRound’s Sustainability60 and the UK Green Business Awards.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
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