Rising demand for advanced drone technology in surveillance, reconnaissance, and various industries is anticipated to drive the growth of the global drone communication market during the forecast period. The North America region is expected to observe significant growth during the forecast period.
WILMINGTON, Del., April 24, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Drone Communication Market Size, Share, Competitive Landscape and Trend Analysis Report by Method, by Application: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the globaldrone communication market generated $2.3 billion in 2022, and is anticipated to generate $15.8 billion by 2032, witnessing a CAGR of 21.4% from 2023 to 2032.
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- 125 - Tables
- 51 - Charts
- 320 - Pages
Prime Determinants of Growth
The rising demand for advanced drone technology in surveillance, reconnaissance, and various industries, coupled with advancements in satellite and cellular communication technologies, is boosting the growth of the drone communication market. However, the challenges associated with long-distance communication, scalability issues, and computational variability in drones is restraining the market's growth during the forecast period. On the other hand, the increasing adoption of drones for applications in construction, mining, agriculture, and inspection sectors, along with the development of innovative communication solutions, is poised to unlock lucrative market growth opportunities in the future.
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Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $2.3 billion |
Market Size in 2032 | $15.8 billion |
CAGR | 21.4 % |
No. of Pages in Report | 320 |
Segments covered | Method, Application, and Region |
Drivers | Increasing demand for advanced drone technology for surveillance and reconnaissance purposes Advancements in satellite and cellular communication technologies enhancing drone communication capabilities |
Opportunities | Growing applications of drones in construction, mining, agriculture, and inspection sectors
Development of innovative communication solutions to meet evolving industry needs |
Restraints | Computational variability among drones within fleets posing limitations to optimal mission performance |
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COVID-19 Scenario:
- The COVID-19 pandemic significantly impacted the global drone communication market. The pandemic initially hindered market growth due to disruptions in supply chains and manufacturing processes.
- Increasing restrictions and lockdown measures led to a temporary slowdown in market activities. However, rising demand for drone technology in various sectors such as healthcare, surveillance, and delivery drove market growth during the pandemic.
- The need for contactless delivery and monitoring solutions boosted the adoption of drones, particularly in sectors like e-commerce and healthcare. Despite initial challenges, the pandemic ultimately accelerated the growth of the global drone communication market as businesses and industries sought innovative solutions to adapt to the new normal.
Method: Satellite Sub-Segment to Hold Leading Market Share by 2032
The satellite sub-segment dominated the market in 2022, holding a major share of 28.1%. This sub-segment is expected to hold a leading market share of 29.3% by 2032. This growth is mainly due to increasing demand for reliable and uninterrupted communication beyond line of sight, especially in military applications. Moreover, advancements in satellite technology, offering higher data throughput rates and superior connectivity, are driving the adoption of satellite communication, thereby boosting its market dominance.
Application: Agriculture Sub-Segment to Observe Significant Growth during the Forecast Period
The agriculture sub-segment led the market in 2022, holding a substantial share of 32.0%. This is mainly due to the increasing adoption of drones for precision farming, boosting efficiency and productivity in agricultural operations. Rising demand for real-time crop monitoring and analysis, coupled with the need for optimized resource management, is driving the adoption of drone technology in the agriculture sector.
By Region: North America to Hold the Leading Market Share in Forecast Period
The North America region dominated the global drone communication market in 2022, holding a major share of 34.3%. The dominance of this region is expected to continue by 2032, growing with a major share of 32.1%. This is mainly due to increasing investments in drone technology, rising demand across diverse sectors such as construction, agriculture, and defense, and driving innovation in communication systems in this region. Additionally, the region's well-established regulatory framework and supportive infrastructure are boosting market growth and fostering a conducive environment for drone operations.
Leading Players in the Drone Communication Market:
- Teal Drones
- AgEagle Aerial Systems Inc.
- Parrot Drone SAS
- AeroVironment, Inc.
- DJI
- Draganfly Innovations Inc.
- Yuneec
- Freefly Systems
- Skydio, Inc.
- Microdrones
The report provides a detailed analysis of the key players of the global drone communication market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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