Global Drone Sensor Market to Witness a CAGR of 26.8% during 2019-2025
NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The global drone sensor market was valued at USD 284.36 million in 2018, and is expected to augment with a significant CAGR of 26.8% to reach USD 1,501.76 million by 2025. Factors driving the market growth are; the surging need for high resolution imaging, increasing demand for precise navigation, and increasing automation in industries. The technological advancement has stimulated the various new features in drones, thus boosting the drone sensor market. In addition, the increasing investment on drones from commercial sector is further augmenting the global demand for drone sensor.
Drones also called unmanned aerial vehicle (UAV), is a promising technology for the industrial revolution that aids in providing innovative solutions in many end-use applications. They serve many advantageous properties such as simpler design, aerodynamically stability, and high operational efficiency, and on account of these properties the demand of the market is increasing considerably. In addition, the sensors implemented on the drone play a prime role to attain the desired output. With the array of sensors, drones can capture the valuable data that would be prohibitively expensive or impossible to capture by other means.
Key findings of the report:
-- The global drone sensor market is expected to reach USD1,501.76 million by 2025, at a CAGR of 26.84%. -- Based on type, inertial sensor is accounted to hold the largest share of the global drone sensor market in 2018. -- Based on application, inspection & surveillance dominated the market in 2018, and is projected to retain its dominance during 2019-2025 -- On the basis of end-use, the defense industry is likely to emerge as the fastest growing segment over the forecast period. Drones are being deployed by militaries for surveillance, strike missions, and electronic warfare. The availability and accessibility of advanced navigation and satellite communication technologies has further led to the adoption of drone sensors. -- Some of the prominent players operating in the drone sensor industry include Trimble Inc.; Bosch Sensortec GmbH; TDK; SpartonNavEx; LORD Corporation; Systron Donner Inertia; Velodyne LiDAR; ams AG; LeddarTech Inc; Infineon Technologies AG; Swift Navigation, Inc.; precisionhawk, and Sentera, Inc. among others.
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Global Drone Sensor Market - Regional Insight
Geographically, North America held the major market share in 2018, and is expected to continue its dominance over the forecast period. Growing application of drones in security & surveillance, military & defense, and media and entertainment sector is expected to create a greater demand in North America. Moreover, high capital investment in the defense sector is expected to boost up the demand for drone sensor market in this region. Asia-Pacific is likely to register the highest CAGR over the forecast period, owing to the rise in adoption of the precision farming along with favorable government regulations.
The report segments the global drone sensor market on the basis of type, application, end-user, and region.
-- By Type ○ Inertial sensor • Accelerometers • Gyroscope • Magnetometers • Tilt sensor ○ Image sensor • Infrared • Thermal • Multispectral • 3D Image sensor ○ Speed and distance sensor • Radar • LiDAR • Proximity sensor ○ Position sensor • GPS • GNSS ○ Pressure sensor ○ Light sensor ○ Current sensor ○ Others ( Accelerometer, Barometer, magnetometer) -- By Application ○ Navigation ○ Collision detection & avoidance ○ Data acquisition ○ Motion detection ○ Air pressure measurement ○ Inspection & Surveillance ○ Others (Photography & Cinematography, Collision Avoidance & Distance Measurement, Power monitoring) -- By End-User ○ Media & entertainment ○ Agriculture ○ Telecommunication ○ Security & surveillance ○ Defense ○ Mining ○ Law enforcement ○ Transportation ○ Others -- By Region: ○ North America • U.S. • Canada ○ Europe • UK • Germany • France • Rest of Europe ○ Asia-Pacific • China • Japan • India • Rest of Asia-Pacific ○ Central and South America (CSA) • Brazil • Mexico • Rest of CSA ○ Middle East and Africa (MEA) • UAE • South Africa • Rest of MEA
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