Global market for commercial applications of drone technology valued at over 127 billion dollars

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Jun 23, 2016

The drone revolution is disrupting industries ranging from agriculture to filmmaking. According to a new study by PwC on the commercial applications of drone technology, the emerging global market for business services using drones is valued at over $127 bn.

With drones poised to have an impact on business operations of companies in a broad range of industry sectors, PwC has also established in Poland a global centre of excellence that uses drones and data analytics to help clients solve their business challenges.

Olga Grygier-Siddons, Chief Executive of PwC in Central and Eastern Europe, says: “I am very proud that we have developed a global centre of excellence right here in Central and Eastern Europe that uses drones and geospatial data analytics to help clients. This is the first PwC team of its kind anywhere in the world. If you ask me, it’s no surprise that this team was formed right here in our region. We see real change happening in the business culture of CEE.

“For a long time, business success in our region has been based on cost competitiveness, but now there is a real desire on the part of our clients and colleagues to compete instead on value, created through innovation.”

The application of drone technologies in existing business processes is allowing companies from those industries to create new business and operating models. Each industry has diverse needs, and as a consequence requires different types of drone-powered solutions and various drone functionalities. Some of them value flight speed and payload capacity, while others wish to concentrate on solutions delivering high-quality, real-time data in a cost-effective way.

 

Clarity from above 

According to the PwC report Clarity from above, the addressable market value of drone powered solutions is over $127 bn. This is the value of current business services and labour that are likely to be replaced in the very near future by drone powered solutions, according to PwC predictions. The industry with the best prospects for drone applications is infrastructure, with total addressable market value of approx. $45.2 bn. 

 

Predicted value of drone powered solutions in key industries – global view ($ bn)

 

Infrastructure

45.2

Agriculture

32.4

Transport

13

Security

10

Media & Entertainment

8.8

Insurance

6.8

Telecommunication

6.3

Mining

4.4

Total

127.3

 

Worldwide, drones equipped with cameras and sensors provide companies with more comprehensive data. They are also are involved in the transport and precise operational activities, exerting an increasing influence on business strategies of enterprises.

Drone-powered solutions are best suited to sectors that require both mobility and a high quality of data. Specifically, businesses that manage assets dispersed over large areas have a long history of issues that new drone powered solutions can address. Large-scale capital projects, infrastructure maintenance and agriculture can all benefit greatly from the integration of drones into day-to-day business. Insurance and mining will find potential process improvements as they gain new levels of data quality and accessibility. And the entire transport industry will surely change its concept of last-mile delivery.

One of the primary usage of drones is to supervise the ongoing investments and maintenance of existing infrastructure. Drones are also used in transport, for last mile services, as well as in agriculture, not only gathering and quickly analyzing data on land and crops, but also doing precise spraying of plants.

Contact us

Konstantina Logotheti

Director - Marketing & Communications, PwC Cyprus

Tel: +357-22555108

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