Worldwide drone spending valued at £7.1 billion for 2018

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The commercial drone sector will grow at a faster pace than the overall robotics and drone solutions market, a new industry report has claimed.

A new update to the IDC Worldwide Semiannual Robotics and Drones Spending Guide forecasts that worldwide spending on robotics and drones solutions will reach $201.3 (£153) billion in 2022.

Out of that, worldwide drone spending will reach $9.3 (£7.1) billion in 2018, with the sector expected to grow at a faster rate than the overall market with a five-year CAGR of 32.1%.

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Enterprise drone solutions will deliver more than half of all drone spending throughout the forecast period with the balance coming from consumer drone solutions. Enterprise drones will increase its share of overall spending with a five-year CAGR of 37.1%.

The utilities and construction industries will see the largest drone spending in 2018 of $925m (£702m) to $808m (£615), respectively.

“Organisations continue to explore a range of applications and use cases for drones, moving beyond aerial photography to drone-based deliveries, precision agriculture monitoring, and even time-sensitive medical deliveries,” said Stacey Soohoo, research manager at IDC’s customer insights and analysis.

“With these expanded use cases come concerns across many governing parties. Most regions, however, are starting to provide regulatory clarity, as they understand the growing need for drone control and an air traffic management system for both enterprise and consumer deployments.

“In addition, as safety continues to be a major concern for consumers and regulators, vendors and IT suppliers are working to alleviate concerns by building drones with multiple redundancies, improving their sensory and collision avoidance technology, and testing 5G-enabled drones to enable greater connectivity while lowering latency.”

Tags : Commercial dronedrone marketdronesIDCInternational Data CorporationUAV
Emma Calder

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