Drone Logistics and Transportation Market Research Report - Global Forecast till 2028 is projected to be valued at USD 35,170 Million by 2028, registering a CAGR of 21.01% from 2019 to 2028. Rising investments in the drone delivery market have significantly contributed to the growth of the drone logistics and transportation market. High competition owing to the presence of a large number of players in this market is forcing service providers to offer enhanced services. Furthermore, increasing collaborations between prominent logistics companies in the field of drone logistics and transportation are also expected to drive the growth of the market. For example, in March 2019, United Parcel Service of America, Inc. and Matternet collaborated to deliver medical samples via drones in the US.
However, issues related to battery life and bandwidth and limited availability of trained and skilled personnel might hamper the growth of the market.
The growing need to reduce shipping and operational costs is expected to increase the adoption of drone logistics and transportation services.
Growth Opportunities in the Market
- Software segment to register the highest growth rate: The software segment is expected to exhibit the highest CAGR during the forecast period. The growing adoption of drone delivery software to ease operations is expected to drive the growth of the segment. Software solutions offered by companies such as FlytBase, Inc. provide real-time parcel tracking information, drone fleet management, and precise landing and delivery location.
- Freight drones to remain a popular choice: The freight drones segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. The growing adoption of freight drones for the speedy delivery of goods is expected to drive the growth of the segment.
- Commercial segment expected to exhibit the higher CAGR: The commercial segment is expected to register the higher CAGR during the review period. Investments by e-commerce giants such as Amazon and Alibaba in drones for speedy delivery services and reduced operational costs are expected to drive the growth of the segment.
Drone Logistics and Transportation Market Research Report: Information by Solution (Shipping, Warehousing, Infrastructure and Software), Drone (Freight Drones, Passenger Drones and Ambulance Drones), Application (Commercial and Military) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2028 @ https://www.marketresearchfuture.com/reports/drone-logistics-transportation-market-8561