DUBLIN, February 23, 2016 /PRNewswire/ --
The global UAV market is forecast to grow at a rate of 10.16% by 2020, according to a report published on Research and Markets. The report states that there has been a growing demand for small UAVs for civil, commercial, as well as military applications. The market received a significant boost this week with wireless provider AT&T announcing that it will partner with Intel to test the functionality of drones on its high-speed LTE network.
In a statement released on their website, AT&T said their IoT team will be working with Intel to test the performance of the LTE network at higher altitudes. They will be examining how it affects video streaming, transmitting and flight information. They say connecting drones to the LTE network will solve many of the challenges facing the industry, including safety and security concerns, real time communications and potential interference with manned aircraft.
The majority of drones operate using short-range signals, which creates challenges such as low endurance and limited flight range. But access to a nationwide cellular network would open possibilities, such as delivering packages long distances, which is something Amazon has been looking into. The global commercial purpose drone market is expected to grow at a CAGR of 57% between 2016 and 2020, according to a recent report.
With advances in drone technology and the chances of relaxing laws related to drones, advertising agencies worldwide have started experimenting with the possibilities of drone advertising. Commercial drones are also expected to be widely adopted in the agriculture sector during the forecast period, as these allow for better crop monitoring, leading to higher yields. Major tech companies such as Facebook and Google are planning to deploy solar-powered drones as flying Internet access points or hotspots, to provide connectivity to the world's more remote places.
In terms of value, the UAV market is estimated to show a robust growth to reach $14.9 billion by 2020. This report on the market identified strategic partnerships, collaborations and joint ventures as the key strategies being adopted by the industry players.
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SOURCE Research and Markets