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Amazon's New Surveillance Patent to Boost Drone Market Reach
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Amazon (AMZN - Free Report) is firing on all cylinders to expand presence in the booming drone market on the back of its robust technologies.
Reportedly, the e-commerce giant has recently been granted a patent by the United States Patent and Trademark Office, Notably, the company applied for it applied for in 2015.
We note that the patent will allow Amazon to use its delivery drones for surveillance purpose, which in turn will enhance its offerings in the drone market.
The patent describes that the drone will perform surveillance function based on geo-fencing technology which restricts function outside the virtual boundary created by the technology around the property under observation.
The drones are well-equipped to record video of the property under surveillance which will aid Amazon in providing information to the property owners.
Drone Surveillance Market Holds Promise
Amazon’s continued efforts toward offering surveillance as a service via drones will materialize with the patent.
Moreover, the patent will help the company in foraying into the global drone surveillance market. Notably, the growing demand for security services which will constantly monitor property and keep updating owners with real time data is fueling demand in this market.
A report from Transparency Market Research, this potential market is expected to reach $650 million by 2026 at a CAGR of 20% between 2018 and 2026.
We believe Amazon’s robust AI and Machine Learnings (ML) technologies position it well to rapidly penetrate into the drone surveillance market.
Amazon is leaving no stone unturned to explore the multiple ways of utilizing its delivery drones to enhance offerings to customers.
Apart from the latest patent, the company recently revealed that its electric drones which are equipped to fly up to 15 miles and capable of delivering packages weighing 5 pounds within half-hour will soon start delivering goods.
Additionally, Amazon has received one-year approval from Federal Aviation Administration (FAA) for testing these drones and its development activities.
We note that with the expanding usage of these drones, positions Amazon well to reap benefits from global drone services market which as per a report from MarketsandMarkets, is expected to hit $4.4 billion in 2019 and to reach $63.6 billion by 2025 at a CAGR of 55.9% between 2019 and 2026.
Further, the above-mentioned strengthening drone initiatives are likely to bolster its presence in the global drone market which as per a report from Adroit Market Research, is anticipated to reach $144.38 billion by 2025 at a CAGR of 40.7% between 2019 and 2025.
Long-term earnings growth rate for Autohome, Match Group and Marchex is pegged at 20.91%, 15.15% and 15%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Amazon's New Surveillance Patent to Boost Drone Market Reach
Amazon (AMZN - Free Report) is firing on all cylinders to expand presence in the booming drone market on the back of its robust technologies.
Reportedly, the e-commerce giant has recently been granted a patent by the United States Patent and Trademark Office, Notably, the company applied for it applied for in 2015.
We note that the patent will allow Amazon to use its delivery drones for surveillance purpose, which in turn will enhance its offerings in the drone market.
The patent describes that the drone will perform surveillance function based on geo-fencing technology which restricts function outside the virtual boundary created by the technology around the property under observation.
The drones are well-equipped to record video of the property under surveillance which will aid Amazon in providing information to the property owners.
Drone Surveillance Market Holds Promise
Amazon’s continued efforts toward offering surveillance as a service via drones will materialize with the patent.
Moreover, the patent will help the company in foraying into the global drone surveillance market. Notably, the growing demand for security services which will constantly monitor property and keep updating owners with real time data is fueling demand in this market.
A report from Transparency Market Research, this potential market is expected to reach $650 million by 2026 at a CAGR of 20% between 2018 and 2026.
We believe Amazon’s robust AI and Machine Learnings (ML) technologies position it well to rapidly penetrate into the drone surveillance market.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. revenue-ttm | Amazon.com, Inc. Quote
Growing Drone Initiatives
Amazon is leaving no stone unturned to explore the multiple ways of utilizing its delivery drones to enhance offerings to customers.
Apart from the latest patent, the company recently revealed that its electric drones which are equipped to fly up to 15 miles and capable of delivering packages weighing 5 pounds within half-hour will soon start delivering goods.
Additionally, Amazon has received one-year approval from Federal Aviation Administration (FAA) for testing these drones and its development activities.
We note that with the expanding usage of these drones, positions Amazon well to reap benefits from global drone services market which as per a report from MarketsandMarkets, is expected to hit $4.4 billion in 2019 and to reach $63.6 billion by 2025 at a CAGR of 55.9% between 2019 and 2026.
Further, the above-mentioned strengthening drone initiatives are likely to bolster its presence in the global drone market which as per a report from Adroit Market Research, is anticipated to reach $144.38 billion by 2025 at a CAGR of 40.7% between 2019 and 2025.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector worth considering are Autohome Inc. (ATHM - Free Report) , Match Group, Inc. (MTCH - Free Report) and Marchex, Inc. (MCHX - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Autohome, Match Group and Marchex is pegged at 20.91%, 15.15% and 15%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>