Drone-based Inspections Market Size Analysis, Competitive Landscape, Revenue Status, and Demand By Top Key Players
Research Nester released a report titled “Drone-based Inspections Market for Oil and Gas: Global Demand Analysis & Opportunity Outlook 2029”which delivers detailed overview of the global drone-based inspections market for oil and gas in terms of market segmentation by end user, application type, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The drone-based inspections market for oil and gas is projected to grow with a high CAGR during the forecast period, i.e., 2021-2029 on account of the rising adoption of drones in all three sectors in the oil and gas industry.
Due to the stabilized oil prices from the end of 2019 and declining drilling cost, the offshore rig count and offshore oil production are expected to increase, which is anticipated to be a significant driver for the global drone-based inspections market oil and gas.
The market is segmented by end-user into upstream, downstream, and midstream. Among these segments, the upstream segment is anticipated to hold the largest share by the end of 2021, as monitoring during the drilling and production process is most important to optimize the effectiveness.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which the drone-based inspections market for oil and gas in North America is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America also holds the largest share. This can be attributed to global drone companies' presence in the region coupled with the rising adoption of drones in all three oil and gas industry sectors.
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Increasing Adoption of Drones across All three Sectors of Oil and Gas Industry to Drive Market Growth
The rising prevalence of drones in recent years is expected to boost the market growth in upcoming years. However, the expensive cost of drone technology and lack of drone manufacturers in low-income economies are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global drone-based inspections market for oil and gas which includes company profiling of PrecisionHawk, Terra Drone Corp., CYBERHAWK, Viper Drones, Equinox's Drones, Airobotics, Flyability, and DroneDeploy. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global drone-based inspections market for oil and gas that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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