Drone proliferation in society and business is no longer news. Futurists are predicting 1 billion drones in the sky by 2030 and the consumer industry is forecasted to reach $9 billion by 2024. But, already established markets will also see the influence of drone integration, including utilities.
Here are three things to look for in the utility drone market over the next five years.
1 | By 2023 the market will quintuple, reaching $539M due to demand of hazardous work settings. As published by MarketsAndMarkets in their recent report, drones are becoming a highly valued asset because they can operate in areas inaccessible and unsafe for employees.
2 | Power will save billions, seeing the highest spike over the forecast period--in the United States, Central America, and Europe drones are stringing transmission lines and surveying grids for damage and network failures. Before drone integration, linemen would have to drive from post to post and avoid dangerous areas that drones can reach.
3 | North America is the leading market, due to a focus on renewable energy and increased power consumption. Outside of power utility, drones are excelling across the continent in solar, water, and nuclear use-cases.