Changing the Landscape of the Insurance Market

How UAVs benefit consumers through faster estimates, quicker response times and faster delivery of benefits Unmanned aerial vehicles (UAVs), more commonly known as drones, are growing at a rapid rate for both consumer and professional markets. Market research firm IHS Markit forecasts the professional drone market will manage a compound annual growth rate (CAGR) of 77.1% through 2020 driven by industries such as agriculture, energy and construction using the technology for surveying, mapping, planning and more. Meanwhile, the consumer drone market will maintain a CAGR of 22.1% through 2020 with companies such as DJI, Parrot and 3D Robotics driving the market with a wide range of devices for photography, recreational use and racing. While these markets will be the main drivers for the next few years, one industry that isn’t discussed often as a main driver is the insurance market. However, according to professional services company PwC, the addressable market Continue reading Changing the Landscape of the Insurance Market