Market Overview

of Global Drones For Insurance market:
The latest research study on the global Drones For Insurance market finds that the global Drones For Insurance market reached a value of USD 577.13 million in 2022. It’s expected that the market will achieve USD 7236.0 million by 2028, exhibiting a CAGR of 52.42% during the forecast period.

Drones For Insurance refers to the application of drones in the insurance industry. In the insurance industry, drones can be used in the investigation and claims settlement process to improve quality and efficiency and optimize customer experience.

Strength
More and more insurance companies are using drones to simplify work, complete tasks more accurately and efficiently, and reduce time and costs.
Insurance companies can simplify and speed up the dangerous, hands-on, and time-consuming process of property inspections, reducing claims time from days to hours.
Since drones can greatly improve inspection efficiency, insurance companies can reduce the number of on-site survey personnel, improve the efficiency of resource allocation, and at the same time ensure the safety of employees.
Drones can scientifically help combat fraudulent claims.
Drones are increasingly used in insurance companies' business applications
Since drones can take detailed aerial images, when a disaster occurs, data can be easily collected for the purpose of claim adjustment or disaster model verification.
Drones can be used to cover a wide range of crop insurance claims, and can also be used to create 3D models of major infrastructure damage caused by hurricanes and earthquakes.

Weakness
Failure of the UAV system, flying the UAV over the signal range or entering an area where communication is interrupted due to frequency interference, may cause control errors.
In the event of personal injury or property damage, the court may admit that drone operators should bear tort liability.
Since drones are controlled by radio or Wi-Fi signals, they are vulnerable to hacker attacks. Recorded data may be lost or leaked while the device is flying and transmitting information to the control station, or during a cyber attack where the company collects and stores data.

Opportunities
Not only have drones changed the way insurers reduce their own risks, they also affect how quickly companies can respond to problems when disasters occur, how quickly they can process claims from policy owners, and how quickly they can settle claims. Although the use of drones in the insurance industry is still in its infancy, given the benefits of drones to suppliers and policy owners, the use of drones will definitely accelerate in the coming years.

Threat
Insufficient historical and analytical data will bring challenges in product development.
Over time, insurance companies may expand the use of drones throughout their enterprise. This has increased the demand for drone management and operation to cope with increasing risks and supervision.

Region Overview:
In 2022, the share of the Drones For Insurance market in Europe stood at 36.06%.

Company Overview:
Dajiang Innovation Technology Inc. (DJI) is one of the major players operating in the Drones For Insurance market, holding a share of 25.6% in 2023.

Dajiang Innovation Technology Inc. (DJI)
Dajiang Innovation Technology Inc. (DJI) is a technology company in the People's Republic of China that mainly produces and develops civilian unmanned aerial vehicles and aerial photography systems. The company is headquartered in Shenzhen, Guangdong Province, with offices in the United States, Germany, the Netherlands, Japan, Beijing and Hong Kong.

Yuneec International
Yuneec International Co. Ltd. manufactures drones. It offers manned electric aircraft, radio controlled drones, multicopters, radio controlled helicopters and microcopters, and radio controlled electric powered airplanes, as well as a line of radio controlled aircraft for the hobby market. The company also provides general parts and accessories, repair services, and support services.

Segmentation Overview:
As for product types, the Drones Hardware segment held the largest market share in 2022.

Application Overview:
The market's largest segment by application is the segment Claims Processing, with a market share of 44.84% in 2022.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Drones For Insurance market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Drones For Insurance market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Drones For Insurance and its sub-markets in an intuitive way.

Key Companies in the global Drones For Insurance market covered in Chapter 3:
Yuneec International
Arch Aerial LLC
Draganfly Innovations
AeroVironment, Inc.
Delta Drone S.A.
DroneDeploy
Sarl Dronotec
GoPro, Inc.
Precision Drone
Kespry Inc.
3D Robotics Inc
senseFly/Parrot
Ascending Technologies GmbH（Intel）
Dajiang Innovation Technology Inc. (DJI)

In Chapter 4 and Chapter 14.2, on the basis of types, the Drones For Insurance market from 2018 to 2029 is primarily split into:
Drones Hardware
Drones Software
Drones Service

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Drones For Insurance market from 2018 to 2029 covers:
Claims Processing
Risk Assessments
Property Appraisal
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)

Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)

Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)

Latin America (Brazil, Mexico, Argentina)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Drones For Insurance market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029