The global drone charging station market is estimated to garner a substantial revenue and grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increase in implementation of drone-based applications across the globe, and rapid rate of globalization leading to an increase in the number of companies and industries. The total shipments of internet of things (IoT) enterprise drones were more than 350,000 in the year 2019, increasing up to almost 520,000 drones by the end of 2020. By 2023, the number is estimated to reach a value of about 1.2 million. Along with these, growing adoption of the concept of wireless charging in the drone industry for promoting a level of autonomy in the drones is also expected to boost the growth of the market in the near future. Furthermore, companies are launching enhanced products, including the launch of charging stations with automatic, on-demand and programmed missions. This in turn is projected to offer lucrative opportunities for market growth in the near future.
The market is segmented by charging method into battery, solar powered. and wireless, out of which, the battery segment is anticipated to hold the largest share in the global drone charging station market. This can be accounted to the fact that the most common charging method found in drones is conductive charging technology. The drones are set up with another set of wires wound around the motors that receive electric charge though the wires’ outer frames. Additionally, on the basis of type, the indoor charging pad segment is evaluated to observe the highest growth during the forecast period owing to the ease of accessibility of this type of drone charging station, and their compatibility with a wide range of devices.CLICK TO DOWNLOAD SAMPLE REPORT
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.
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.
The global drone charging station market is further classified on the basis of region as follows:
Our in-depth analysis of the global drone charging station market includes the following segments:
FREQUENTLY ASKED QUESTIONS
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.
The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Availability of low-quality products by local players is estimated to hamper the market growth.
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.
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.
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.
The market is segmented by type, charging method, distribution channel, and by region.
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.
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