BOULDER, Colo.--(BUSINESS WIRE)--Oct 17, 2019--

The market for unmanned aerial vehicles (UAVs), commonly known as drones, is starting to realize its potential for commercial applications. Major players in many industries and government agencies have already taken the first steps to evaluate drone solutions and systems, according to a new report from Tractica.

The demand for commercial drones is being driven by such factors as expanding industry use cases, affordable hardware and services, high definition (HD) aerial imaging and sensing, integrated data intelligence, and the rapid ROI that drones provide to major industries. Tractica forecasts that the commercial drone market will continue growing rapidly over the next few years while providing significant opportunities to various industry participants, reaching global revenue of $13.7 billion by the end of 2025.

“The commercial drone market is focusing on core solutions where drones clearly excel,” says senior analyst Glenn Sanders. “The ability to demonstrate such effective solutions is the key determinant of which companies are likely to achieve long-term leadership and which may fall by the wayside. Now is the time for the companies to perfect their products and gain momentum, mindshare, and market share.”

Tractica’s report, “ Drones for Commercial Applications,” examines the market and technology issues surrounding commercial drones and presents 8-year revenue forecasts for the industry from 2018 to 2025. The report discusses crucial market drivers, challenges, and regulatory issues, in addition to assessing the most important technology issues that will influence market development. In total, the top 25 major industry players are profiled, organized by hardware makers, flight management and drone services, data and analytics services, and delivery companies. An information bank of 201 key and emerging companies is included in the company directory. Market forecasts are segmented by world region, airframe type, industry, application, and customer type. An Executive Summary of the report is available for free download on the firm’s website.

About Tractica

Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing, Connected & Autonomous Vehicles, and Wearables & Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.

CONTACT: Sherril Hanson

+1.303.248.3338

KEYWORD: UNITED STATES NORTH AMERICA COLORADO

INDUSTRY KEYWORD: AIR WHITE HOUSE/FEDERAL GOVERNMENT TRANSPORT STATE/LOCAL OTHER TECHNOLOGY TELECOMMUNICATIONS SOFTWARE NETWORKS INTERNET OTHER PROFESSIONAL SERVICES HARDWARE HOMELAND SECURITY LOGISTICS/SUPPLY CHAIN MANAGEMENT DATA MANAGEMENT CONSUMER ELECTRONICS MOBILE/WIRELESS TECHNOLOGY PUBLIC POLICY/GOVERNMENT SCIENCE PROFESSIONAL SERVICES LAW ENFORCEMENT/EMERGENCY SERVICES OTHER SCIENCE SEMICONDUCTOR OTHER MANUFACTURING RESEARCH SECURITY OTHER DEFENSE SATELLITE PHOTOGRAPHY AUDIO/VIDEO AEROSPACE DEFENSE MANUFACTURING OTHER TRANSPORT

SOURCE: Tractica

Copyright Business Wire 2019.

PUB: 10/17/2019 07:20 AM/DISC: 10/17/2019 07:20 AM

Copyright Business Wire 2019.