Thursday, 21 May 2020

Cryotherapy Market Global Demand, Industry Growth, In-depth Analysis and Opportunities till 2026

polarismarketresearch.com added Cryotherapy Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period of time.

The global cryotherapy market size is set to achieve 6.72 billion by 2026 at a CAGR of 9.8% according to a new study published by Polaris Market Research. The key players in Cryotherapy market include CryoConcepts LP, Medtronic plc, Brymill Cryogenci Systems, Cortex Technoologies, Cooper Surgical, Inc., and Zimmer Medizin Systems.

Cryotherapy is known in medical science as an application of low temperature for treating malignant tissues and malignant tissue damage called lesions. Cryotherapy finds common applications in treating muscle pain, sprains, swelling, soft tissue damage and postoperative swelling.



Cryotherapy known as cryoablation is a non-invasive therapy that is useful in pain reduction, abnormal skin treatment and treating local tumors. Cryosurgery is directing extreme cold to diseased tissues to destroy them. Then, ice pack therapy is administered to an injured area of body. It is for no small reason that cryotherapy devices market is considered the most potent treatment for cancer. Rising incidences of cancer will give growth to phenomenal strides in market. Cryotherapy, also called cryoablation, is a non-invasive therapy used for alleviating pain, treating abnormal skin, and treating localized tumors. It can be administered locally or on whole body. 

The key factors driving cryotherapy market include high prevalence of cancer, increasing demand for minimally invasive procedures, technological prowess in cryotherapy equipment and growing popularity in fitness, wellness and beauty industries. Uncertainty over traditional methods still exist because use of argon gas and crypto probes are not definitive standards and have to seek approval by the regulatory body. Safety and effectiveness have a long way to go. Hence lack of clinical evidences is limiting factors to growth of cryotherapy units market.

High-risk cryogenic gases and strict regulatory approvals for the gases could be defining restraints for the market. On the other hand, success factors for cryosurgery are that it scores over traditional surgery, marked by few complications, negligible scars, less pain and shorter hospitals stay. These factors will bolster market.

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Polaris Market Research has segmented the global cryotherapy market on the basis of product type, application, therapy, end-user and region:

Cryotherapy Product Type Outlook (Revenue USD Million 2015-2026)
  • Cryogun
  • Cryoprobes
  • Gas Cylinders
  • Gas Pressure Gauges
  • Thermocouple Devices
Cryotherapy Application Outlook (Revenue USD Million 2025-2026)
  • Oncology
  • Cardiology
  • Dermatology
  • Pain Management
  • Gynecology
Cryotherapy Therapy Type Outlook (Revenue USD Million 2015-2026)
  • Cryosurgery
  • Icepack therapy
  • Cryo chamber therapy
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Middle East printing inks Market Size Historical Growth, Analysis, Opportunities and Forecast 2026

polarismarketresearch.com added Middle East Printing Inks Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period.

The Middle East printing inks market is estimated to reach USD 3.08 billion by 2026 growing at a CAGR of 4.5% during the forecast period, according to a new study published by Polaris Market Research

The print industry in the Middle East region is a diverse market space and varies from country to country. With every developed or developing country’s end-use industry dynamics, demand for printing inks in the countries vary significantly every year. In terms of volume or production, Turkey was the leader last year accounting for around 40% of the industry production, which was followed by Saudi Arabia and Iran.

Iraq on the other hand is projected to achieve the highest growth rate in terms of volume over the next five years. Syria on the contrary is anticipated to further deteriorate owing to the civil war conditions prevailing in the nation and will account for the worst market performance in the region.


Middle East print industry was considered to be at an infliction point, as the growth of newspapers declined in 2011 and 2012. But from 2013 onwards, demand slowly started to increase for paper printing inks as newspapers demand started rising but the major role was though played by magazine printing.

The traditional offset lithography still is among the leading segments of printing industry in the regional market, however flexographic inks has been witnessing tremendous rise in its demand patterns due to the developing packaging industry in Saudi Arabia, UAE and even Oman. In the present industry scenario, digital printing showed a robust growth, as demand for long runs has been shrinking and short runs along with variable printing are gaining popularity.

The overall popularity of newspapers in the region is high, but there might be situations that it gets tail off in the long run. In many countries the publications must be licensed and follow guidelines on reporting, that in turn will limit the number and content of publishing. Self-censorship is widespread in the region.

In contrary to the recent developments or advancements, the region’s printing industry has been facing further challenges. This is owing to the fact that lack of educational institutes in the region has resulted in shortage of skilled labor. However, the situation is changing at a slow pace and investments in the educational sector has been growing.


The book market in the Middle East has been fueled by increasing investment in education throughout the region. Rising literacy is anticipated to positively affect the print media and print advertising adoption. However, growth in the region will be moderate and will vary across every country.

The industry is dominated by numerous major manufacturers of printing inks resulting into high level of competition. The industry is consolidated in nature, with majors expanding in terms of geography, product & technologies along with merger and acquisition strategies. Major business players are shifting their focus and investing in R&D to avoid volatile petroleum prices and uncertainty regarding their availability.

Polaris Market Research has segmented the Middle East printing inks market on the basis of Product, Application and Region:
Resin Type Outlook (Revenue, USD Billion, 2015 – 2026)
  • Modified Rosin
  • Modified Cellulose
  • Acrylic
  • Polyurethane
  • Hydrocarbon
  • Polyamide
  • Others
Process Type Outlook (Revenue, USD Billion, 2015 – 2026)
  • Gravure
  • Flexographic
  • Lithographic
  • Digital
  • Others
Application Type Outlook (Revenue, USD Billion, 2015 – 2026)
  • Packaging
  • Corrugated cardboards
  • Folding cartons
  • Tags & Labels
  • Others
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Computer Aided Engineering Market Overview with Detailed Analysis, Competitive landscape Forecast to 2026

polarismarketresearch.com added Computer Aided Engineering (CAE) Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period of time.

According to a new study published by Polaris Market, the global Computer Aided Engineering Market is anticipated to reach USD 11.86 billion by 2026. S ome of the key players operating in the computer aided engineering market includes Casio Computer Co., Ltd., BenQ Corporation, Dell Technologies, Inc., Seiko Epson Corp., NEC Display Solutions, PLM Software, Inc., Dassault Systemes, Exa Corporation, ESI Group, and Numeca International among others.

 The increasing penetration of smartphones and tablets are the major factors driving the demand for CAE software. The developing economies worldwide are witnessing high increase in the demand for consumer electronics owing to rising affordability of the people. Further, augmented use of modern engineering modes including, 3D printing, building information modeling, concurrent engineering, and 3D modelling are bolstering the computer aided engineering market growth for CAE software worldwide. However, factors such as piracy of CAE software as well as rising open-source threat are hampering the market growth to certain extent. Also, inadequate technical expertise and lack of skilled labor in several countries globally is restricting the growth of the computer aided engineering market.

On the other hand, cloud-based CAE tools helps the vendors to escalate market penetration in small as well as medium sectors by providing advantages such as reduced maintenance costs and operating costs as well as mobility of the companies. Further, CAE software plays a significant role in the economic growth of several industries including aerospace & defense, automotive, finance, oil & gas, and healthcare among others.


During the past few years, a trend has been noticed in the CAE software marketplace. The players operating in the computer aided engineering market are entering into partnerships as well as mergers & acquisitions between the CAE providers and resellers. This has resulted in increased presence of value-added resellers in large number, which is further acting as a driver to boost computer aided engineering market growth. CAE software offers broad application range as well as supports various tasks including, analysis, simulation, validation, and manufacturing of engineering products. Although, CAE software is an analysis and troubleshooting tool, several critics claims that there is a delay in the accurate results, which acts as a hindrance to the market growth. Also, due to availability of open-source solutions, companies often avoid to make investments in attaining commercial licenses of CAE solutions thus, further restraining the CAE software market growth. Moreover, increasing computational fluid dynamics adoption that facilitates in reducing electric vehicles costs as well as forecast of thermal conditions, is anticipated to propel the growth of the computer aided engineering market during the coming years.


On the basis of geography, Europe is anticipated to account for the major share of the computer aided engineering market in terms of revenues, followed by North America. Also, Asia Pacific computer aided engineering market is expected to demonstrate high growth during the forecast period. The presence of strong automotive industry in Europe and consumer electronic industry in developing nations of Asia Pacific are the factors influencing market growth for computer aided engineering. Further, governments of the developing nations of Asia Pacific region are encouraging the growth of their manufacturing sector by providing funds, subsidies, and tax benefits in order to boost their economic growth. This is anticipated to support the market growth owing to constant increase in the manufacturing sector. Some of such initiatives include Make in India as well as Made in China 2025. Also, automation of industrial equipment is rising at a very high pace, which is likely to bolster the computer aided engineering market growth. Moreover, constant increase in the labor costs worldwide is encouraging the adoption of equipment automation by the manufacturing industries thereby, positively influencing the market growth.


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Wednesday, 20 May 2020

Commercial UAV Market Trends, Drivers, Strategies, Segmentation Application with Top Key Players

Global Commercial UAV Market The well-known companies profiled in the report include Parrot SA, SAIC, Israel Aerospace Industries, Elbit Systems Ltd., DJI Innovations, BAE Systems PLC, PrecisionHawk Inc., AeroVironment, Inc., Aeryon Labs Inc., 3D Robotics Inc., Aurora Flight, and Denel Dynamics among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.


Market Overview :

According to a new study published by Polaris Market Research the commercial UAV market is anticipated to reach over USD 15,624.7 million by 2026. In 2017, the rotary blade UAV segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.



The increasing applications of commercial UAVs in industries such as agriculture, media & entertainment, and mining have boosted the growth of the market. Use of UAVs in performing high risk tasks further support the growth of this market. Additionally, the technological innovation in the market in terms of miniaturization & improvement of components further boosts the adoption of commercial UAVs. Increasing investments by vendors in technological advancements coupled with decreasing prices of components would reduce the overall cost of UAVs in the coming years, further supporting the market growth. However, security and privacy concerns are expected to hamper market growth during the forecast period. Growing demand from emerging economies, and increasing awareness are factors expected to provide numerous growth opportunities in the coming years.

The adoption of commercial UAVs is rising at a significant rate worldwide. UAVs provide high resolution imagery capable of monitoring and verifying applications in various sectors including civil engineering & construction, government, defense & intelligence, agriculture & forestry, transportation, real estate, and others. Varied applications of commercial UAVs include topographic mapping, infrastructure planning, exploration of new energy sources, mitigation of impact of disasters, and monitoring drilling projects in oil & gas industry. Also, commercial UAVs assist in monitoring vegetation, green mapping, vegetation damage due to leaching, traffic management, tracking of fleet, and others. In real estate industry, commercial UAVs are used for enhanced view of buildings and properties, and in insurance sector for accessing environmental risk through accurate and updated geographical data.



North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The increasing applications in the commercial sectors have increased demand of commercial UAVs in the region. The increasing demand from agriculture, and media & entertainment sectors further boosts market growth. Local players are introducing low cost commercial UAVs with high performance. Numerous key players have adopted partnership and expansion strategies to increase their market share in commercial UAV markets in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

The different end-users in Commercial UAV market include agriculture, energy and public utilities, construction, media and entertainment, government, and others. In 2017, the government segment accounted for the highest market share. Government sector majorly uses commercial UAVs for security and law enforcement. Unmanned aerial vehicles are equipped with optical, zoom and thermal cameras for surveillance and acquiring evidence. Other applications of commercial UAVs in this sector include search and rescue, traffic collision reconstruction, investigating suspects, crime scene analysis, crowd monitoring, and others.


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Global Automated Guided Vehicle Market Factors Helping to Maintain Strong Position Globally 2020-2026

Global Automated Guided Vehicle Market The well-known companies profiled in the report include Toyota Industries Corporation, KUKA AG, Daifuku Co. Ltd., Bastian Solutions, Inc., JBT Corporation, Swisslog Holding AG, Seegrid Corporation, Baylo, Inc., EK Automation GmbH, Kion Group AG among others. These companies launch new products and collaborate with other market leaders to meet the increasing needs and requirements of consumers.
Market Overview : 
The worldwide automated guided vehicle market is anticipated to reach USD 3,977.8 million by 2026 according to a new study published by Polaris Market Research. In 2017, the automotive sector dominated the global market, in terms of revenue. Europe is expected to be the leading contributor to the global market revenue during the forecast period.
Growing need for automation and increasing labor costs fuel the market for adoption of AGV. Use of these automated vehicles increases productivity, and efficiency, while saving time and costs. The increasing demand from industries including healthcare, defense, aerospace, agriculture, and food and beverage is expected to provide growth opportunities in the coming years. Emerging and untapped markets of developing economies further provide growing opportunities to key players in the market. Increasing investments, research and development further boosts the growth of the market.


There has been a high demand for automation in the global market. Companies are automating processes to reduce cost, save time and deliver better quality products. With stiff competition existing in the global market, companies are automating their processes for better quality and increased productivity. These vehicles automate internal processes and reduce the workload of employees, by working in collaboration with workers for better efficiency. Due to stringent safety regulations, companies are forced to employ Automated Guided Vehicles for dangerous and hazardous environment conditions. Automation of manufacturing processes was earlier restricted to only automotive sector. Now, industries such as healthcare, aerospace, food and beverage are also adopting the automated vehicles solutions. Increasing need of automation in various industries is a key factor driving the growth of the market.

With ever-increasing labor costs existing in most of the countries, companies are turning towards AGVs to save costs and time. Their usage increases efficiency while reducing wastage. They also eliminate chances of faults occurring due to human errors. These vehicles can be operated with the help of software, thereby saving the expense spent in training and management of labor. Unavailability of skilled labor to manage the processes along with high labor costs pushes companies towards automation and supplements the growth of this market.

Europe generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rapid industrialization and increasing automation in the region drives the market growth. Introduction of new advanced technologies and increasing applications in automotive, aerospace, electronics and healthcare sectors is expected to support market growth. Growing demand from automotive industry for high quality products, along with increasing labor costs encourages companies to invest in automation, thereby augmenting growth.


The various end-users of AGVs include automotive, aerospace, healthcare, food and beverage, and others. In 2017, automotive accounted for the largest share in the global market, and is estimated to grow at a substantial rate during the forecast period. Companies use these vehicles in the automotive sector to save cost and increase their production. The key factors driving this market include increasing labor costs, new safety regulations, and need for increased efficiency. Use of AGVs in the automotive industry enables manufacturers to achieve high quality, reliability, economic efficiency and less product life cycle cost.


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Vertical Farming Market Trends, Type, Application, Analysis And Forecast By 2026

According to a new study published by Polaris Market Research the worldwide Vertical Farming market is anticipated to reach over USD 11,905 million by 2026. In 2017, the shipping container dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

The well-known companies profiled in the report include BrightFarms, Agrilution, Everlight Electronics Co., Ltd., American Hydroponics, Freight Farms, Illumitex, Inc., and Vertical Farm Systems among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.


The growing population worldwide has resulted in significant increase in food demand. Vertical farming is increasingly being used to meet the high-demand for food crops. The factors driving the growth of vertical farming market include ability to produce high quality crops throughout the year, lesser use of water for crop cultivation, and lower dependency on weather conditions.  Organic and chemical free crops can be grown with the help of vertical farming in artificially controlled environments, which further increases its adoption. Other factors driving the market include growing urban population, and reduced environmental pollution. However, high initial investment and crop production of limited varieties restrict the growth of vertical farming market.  

Asia-Pacific generated the highest revenue of $835 million in 2017, and is expected to lead the global market throughout the forecast period. This is owing to significant growth of population in the region. Lack of fertile land, Strong technical expertise in agricultural practices, and established R&D institutes in China and Japan further supplement the market growth.


The growing mechanisms used for vertical farming include hydroponics, aquaponics, and aeroponics. In 2017, hydroponics accounted for the largest share in the global market, and was estimated at USD 1,086 million in 2017, registering a CAGR of 23.3% during the forecast period. Hydroponics is a process of growing plants where the traditional soil medium is replaced by nutrient and mineral rich water solution. Hydroponics offer benefits such as availability of crops throughout the year, faster plant growth, and eliminate the growth of pesticides.

On the basis of offerings, the market is segmented into lighting solutions, sensors, climate control, and hydroponic components. In 2017, the lighting solutions accounted for the major share in the global market. Lighting solutions are used to provide uniform lighting conditions suitable for plant growth. The leading market players offering lighting solutions for vertical farming include Koninklijke Philips N.V., Illumitex, Inc., and Everlight Electronics Co. Ltd.


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POS Terminals Market Type, Application, Market Size, End-User and Region Forecast 2026

The global POS terminals market is estimated to be worth $169.4 billion by 2026, and is expected to grow at a CAGR of 12.4%, according to a new research report published by Polaris Market Research.

Various types of point-of-sale (POS) terminals are used as reliable alternatives to the traditional cash registries at businesses where checkouts and payments are handled. POS terminals provide merchants with multiple capabilities such as secure digital payments, faster checkout process, sales tracking, inventory monitoring, etc. Also, these systems are ready to use (plug and play) having pre-installed software, thus eliminating technician/installation overheads. This particularly encourages small and medium sized businesses/merchants to adopt POS terminals as it offers ease of usage and increased efficiency. With technological advancements the POS hardware come with accommodations for multiple payment types including e-wallets, cards enabling payment flexibility for merchants and customers alike. These features have increased the popularity of POS terminal among businesses and is expected to drive further market growth.


North American regional market is observed to be the largest segment across the different geographies covered in the report. This dominating position of this region is mainly attributed to the widespread adoption of POS terminals across multiple industries such as retail, entertainment, healthcare, and hospitality. Demand from these sectors is majorly observed due to significant growth in organized retail sector, tourism, restaurants in this region. Asia Pacific Point of Sale terminals market is expected to record significant growth due to increased adoption of POS terminals in various countries in this region. The growth is further aided by government initiatives in developing economies such as India towards transformation of the economy from being cash dominant to becoming a digitized cashless economy.

Due to presence of considerable amount of companies providing POS solutions, the POS terminals market is observed to be competitively fragmented. This market report on POS terminals provides analysis of multiple POS solution providers including Aures Technologies, First Data Corporation, HP Development Company, L.P., Ingenico Group, MICROS Retail Systems, Inc., NEC Corporation, Panasonic Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., Square, Inc., and Verifone among others. The competitive landscape section in the reports provides key developments the major companies are involved in this space, for instance during April 2018 Samsung and PayPal officially launched their partnership service enabling consumers the usage of PayPal within Samsung Pay.


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Eyewear market is anticipated to reach over USD 235 billion by 2026

According to a new study published by Polaris Market Research the worldwide eyewear market is anticipated to reach over USD 235 billion by 2026. In 2017, the spectacles segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global eyewear market.

The increasing rate of diseases associated with vision, along with growing ageing population majorly drives the market growth. Consumers are increasingly becoming aware of eye health, which supports market growth. The growing popularity of fashion trends, and increasing disposable income encourage consumers to purchase designer and branded eyewear. Other factors driving market growth include spending longer durations in front of computers and laptops, increasing cases of myopia, hypermetropia, & astigmatism, and changing dietary habits. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for eyewear market in the coming years.


The increasing need for vision correction and growing diseases related to vision in the geriatric population drives the market growth. Consumers are increasingly spending more time in front of mobile devices for work or leisure, which leads to higher cases of vision problems. Changing dietary habits and hectic lifestyles also lead to increasing vision problems. Increasing life expectancy and associated diseases with old age such as presbyopia and cataract augment market growth. There is increasing awareness among consumers regarding eye care, which encourages them to take preventive measures, thereby boosting market growth.Sale of products through online channels has gained significant popularity over the years.
The well-known companies profiled in the report include Luxottica Group S.p.A, Bausch + Lomb Inc., Johnson & Johnson Vision Care, Prada S.p.A, Safilo Group S.p.A, Fielmann AG, Cooper Companies, Inc., Essilor International S.A., GrandVision, Carl Zeiss AG, Hoya Corporation, De Rigo SpA. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  
The trend of online shopping is gaining traction in developing economies, thereby encouraging established market players to distribute their products globally. Emerging and new players are also using online platforms for promotion and sale of products. Online distribution channels offer a global platform to market players for expansion of customer base, while reducing operation cost.

The growing disposable income has encouraged people to buy quality eyewear products that are in perfect amalgamation with their increasing living standards. Moreover, people are now opting for trendy and designer sunglasses according to latest trends prevailing in the market. Youth prefer to don contact lenses in an effort to accentuate their overall appearance. Thus, lofty living standards and increasing fashion consciousness, would contribute to the growth of the eyewear market, thereby positively affecting the market growth.


The growing popularity of fashion trends has increased the demand for branded and luxury eyewear products. Consumers are increasingly buying spectacle frames, lenses, and sunglasses with respect to changing fashion trends. The rising standards of living, increasing disposable income, and increase in fashion conscious population drives the market for luxury eyewear products. Earlier premium eyewear products were only available at selected stores at high prices. However, with technological advancements, and mass manufacturing processes, global players are offering these products globally at affordable prices.

Asia-pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and high disposable income. Expansion of global players into these countries to tap market potential boosts the market growth. Increasing use of mobile devices and online shopping further augments market growth.

The various types of eyewear include spectacles, lenses, and sunglasses. The spectacle segment is expected to lead the market during the forecast period owing to increasing defects and diseases associated with vision. Growing geriatric population and changing lifestyles support the market growth. Spectacle frames can be made using materials such as metal, plastic, and nylon. Consumers are increasing opting for lenses for vision defects as well as for cosmetic purposes.


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Tuesday, 19 May 2020

Passenger Drones Market to Surge at a Robust Pace in Terms of Revenue Over 2026

Polaris Market Research recently introduced new title on “Global Passenger Drones Market Report 2020” from its database. The report provides study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2026. The Report gives you competition analysis of top manufacturer with sales volume, price, revenue (Million / billion USD) and market share.

The global passenger drones market is estimated to reach USD 1,419.5 million by 2026 growing at a CAGR of 29.5% during the forecast period, according to a new study published by Polaris Market Research.its provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the hardware segment dominated the global passenger drones industry, in terms of revenue. Europe was the leading contributor to the global market in 2018.

Passenger Drones are move people for short to medium distances. Being capable of vertical takeoff and landing (VLOT), these can replace driving on roads in cities. Passenger Drones will solve the problem of transport during peak travel time and overcoming obstacles like bridges or lakes. Not just daily commute, passenger drones can be of great significance in adversities and be used for rescue, search operations, emergency supply delivery or air ambulance.


The growing need for cheaper, faster and cleaner transport is increasing the demand for transport alternatives. The increasing demand for intelligent technologies that reduce emissions and offer higher energy efficiency play a key role in the passenger drone market growth. The increasing penetration of mobile devices and technological advancements in components such as camera, mapping software, and others are expected to further support passenger drone market growth.
  
The decline in drone costs and technological advancement is encouraging significant investments in the technology. The growing urban population and their aspiration to avoid traffic congestion will further push the passenger drone market growth during the forecast period. However, safety, security, and privacy concerns restrict the market growth. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

Europe generated the highest revenue in the market during 2017. The increasing population, and growing need for efficient travel options drives the growth of this market. Presence of key players in the region, significant investments, and increasing technological innovation further support the market growth.


The different components used in passenger drones include hardware, software, and services. In 2017, the hardware segment accounted for the largest share in the global market. The hardware used in passenger drones include technologically advanced cameras, navigation systems, frames, controllers, propulsion systems, and others.

The well-known companies profiled in the passenger drones market report include Ehang, Volocopter GmbH, AeroMobil, Joby Aviation, Uber Technologies Inc., Boeing, Airbus S.A.S., Astro Aerospace, Cartivator, Lilium, and Terrafugia among others. These companies are consistently launching new products to enhance their offerings in the passenger drones industry. With the advancement of technologies, companies are innovating and introducing new solutions to cater to the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their offerings to improve their market reach.

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