According to a new market research report on renewable drones market by drone type, the Renewable Drones Market size will grow to $148m by 2025.
This up from $45m in 2020, at a CAGR of 27.1% during the forecast period.
The rising adoption of drones for reducing inspection, increasing focus on asset optimization are the driving factors for the Renewable Drones Market, globally.
Technological developments software for drone data analytics, and rapid development of renewable plants which creates opportunities for growth of the market.
The multirotor segment is expected to dominate the Renewable Drones Market, by drone type, during the forecast period.
Additionally, the solar segment is expected to be the fastest growing Renewable Drones Market, by end user, during the forecast period.
The report explained how the solar segment, by end user, is estimated to grow at the fastest rate during the forecast period mainly because of the increasing demand for inspection operation from existing solar farms.
Moreover, rapid investments for development of solar PV farms in the Asia-Pacific region are factors propel the growth of solar segment in the Renewable Drones Market.
In terms of Geographical location, Asia Pacific is likely to emerge as the largest Renewable Drones Market.