Commercial Drone Market Expands, Recreational Consumer Demand Declines

Declining consumer demand for drones is causing many startup companies to change their focus to specialized industry applications. This means there is shift occurring in drone usage from a disposable hobby item to a serious tool for optimizing processes in dozens of industries.

At Deveron, we are focused on precisely this trend. Our mandate is to revolutionize agriculture by integrating UAV technology for data collection in farming.

“We see drones as a data collection toy that plugs into the larger Ag data stack. That's where we really see the value of drones pushing. Integration plays a pivotal role in the enterprise,” said Dave Macmillan, CEO of Deveron UAS.

According to research conducted by CB Insights, venture capital financing for drone companies fell 59 per cent in the third quarter, reflecting the more general decline in funding within the tech sector.

But PricewaterhouseCoopers estimates that by 2020, $127 billion worth of labor and business services could be replaced by drones.

In commercial agriculture, the use of drones has the potential to not only replace the need for manual human labor, but could also exponentially increase accuracy and efficiency of data collection. The economic value of the resulting increased yields would far outweigh the price of drone technology.

Original Article: http://www.reuters.com/article/us-usa-drones-consumer-analysis-idUSKBN13701Z