Drone Delivery Service Market Advancing at 24.0% CAGR to Reach US$ 3,090.5 Million by 2033 | Fact.MR
North America is expected to hold leading share of about 43.0% in the global drone delivery service market.
Rockville, Oct. 04, 2023 (GLOBE NEWSWIRE) — As per a detailed research report by Fact.MR, a market research and competitive intelligence provider, the global Drone Delivery Service Market is expected to be valued at US$ 359.6 million in 2023. It is projected that the market will rise with a CAGR of 24.0% during the forecast period and enjoy a total valuation of US$ 3,090 million in 2033.
The drone delivery market is driven by the increasing e-commerce industry worldwide and the cost-effectiveness offered by drones over traditional delivery methods. Drones provide quicker, faster, more efficient, and more accurate product delivery, as they are comprised of advanced technologies like GPS systems, vertical take-off and landing (VTOL) systems, machine learning, and other technologies. Owing to these advents abilities of drones, found cost & time effective solutions to the retail & e-commerce industry, which is driving the market growth.
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Key Segments of Drone Delivery Service Industry Research Report
| By Customer Type | By Capacity | By End-use Industry |
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The use of drone delivery services has increased significantly post Covid. In 2022, the global market size of the drone delivery service market was around 5% of the drone services market. Drone delivery services will rise at a significant pace in the forthcoming period with an increase in demand for drone services in various industry verticals. As such, the growth of the drone services industry is somewhat directly proportional to the demand growth for drone delivery services.
Key Takeaways from Market Study
- During the historic period (2018-2022), the CAGR of drone delivery service market was 16.0%
- The market is projected to rise with a CAGR of 24.0% during the forecast period (2023-2033).
- Among the region, North America holds leading share of 43.0% in the global drone delivery service market.
- In the end-use industries, retail sectors holds the largest share with 24.0% in the global drone delivery service market.
Soaring demand for cost & time efficient delivery services will aid the market growth,” says a Fact.MR analyst.
Market Development
The market is comprised of both large and small market players. The business environment in the drone delivery service market is highly competitive with the easy entrance of new market participants in the industry. Additionally, the market is expected to rise substantially in the forecast period with procurement of strategic moves by market players like merger & acquisition and expansion of business location to enhance consumer base and service offering.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 3,090.5 Million |
| Growth Rate (2023-2033) | 24.0% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 54 Tables |
| No. of Figures | 95 Figures |
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Competitive Landscape
In the competitive landscape of the drone delivery service market, significant growth potential is anticipated due to substantial demand across diverse industry verticals. Recent years have seen the entry of numerous new market players implementing strategic initiatives to develop the market and elevate customer experience. Established market leaders are engaging in acquiring these new players to bolster their resources and customer outreach.
For example:
- In September 2022, Valqari, a prominent logistics service provider, made an announcement regarding its acquisition of IDU Group, a move aimed at establishing advanced drone infrastructure spanning from windows to rooftops of buildings, catering to various high-growth industries. This acquisition aims to augment the operational capabilities of the company to effectively meet the surging demand for drone infrastructure solutions.
- In June 2022, Amazon, a leading e-commerce giant, revealed its launch of drone delivery services in California. Their strategic focus is on elevating customer satisfaction and expediting delivery processes by reducing traffic congestion on roadways.
Key Companies Profiled
Aergility, Aerialoop, Aerit, Antwork, Aviant, Dove Air, Droneup, F-Drones, Flying Basket, Flytrex, Jedsy, Manna, Matternet, Mission Go, Rakuten Drone, SkyDrop, Speed Bird, Spright, Volansi and Zipline
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global drone delivery services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of capacity (upto 5 lbs, 6-10 lbs and above 10 lbs), customer type (retail and commercial), end-use industry (healthcare, retail, food and logistics) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Drone Delivery System Market: The drone delivery system market is estimated to reach valuation of US$ 6.6 billion in 2023 and will top US$ 25.5 billion by 2033, growing with a CAGR of around 14.4% from 2023-2033.
Drone Mail Delivery Market: The global drone mail delivery market is poised to reach a market value of US$ 152.1 million in 2023. The market is further expected to grow at a CAGR of 21.7% during the forecast period and will achieve a valuation of US$ 1084.2 million by the end of 2033.
Drone Pharmacy Delivery Market: The global drone pharmacy delivery market is expected to reach a valuation of US$ 64.3 million in 2023 and is further expected to grow at a CAGR of 21.4% over the next 10 years. The market will achieve a market value of US$ 447.4 million by the end of 2033.
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