On the basis of geographical analysis, the global drone charging station market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing safety and security concerns across emerging countries, and high production and consumption of surveillance cameras in the region. For instance, more than 175 million units of surveillance cameras were installed in China in public and private areas 2017, which increased up to about 625 million units by the end of 2020.
In addition, escalating demand for autonomous solutions is also assessed to drive the region’s market growth in the future. Moreover, the market in North America is predicted to acquire the largest share during the forecast period, which can be credited to the growing research and development on drone charging stations, and rising number of players in the region who are extending their cross-border services.
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The global drone charging station market is further classified on the basis of region as follows:
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global drone charging station market includes the following segments:
By Charging Method
By Distribution Channel
September 2021- Matternet’s automated drone docking station made its debut in Switzerland. The facility was built last year but came into usage since September this year.
May 2021- Flytbase announced the launch of IDIPLOYER MP2.1, which is a lightweight, feature-packed and affordable drone charging station.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving market growth are increasing implementation of drone-based applications globally, and rapid rate of globalization leading to rising number of companies and industries.
Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Availability of low-quality products by local players is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing safety and security concerns across emerging countries, and high production and consumption of surveillance cameras in the region.
Ans: The major players in the market are Flytbase, Inc., Matternet Inc., FLIR Systems, Inc., Elbit Systems Ltd., Israel Aerospace Industries Ltd., Elbit Systems Ltd., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, charging method, distribution channel, and by region.
Ans: The battery segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.