Visitors look at a demonstration of the DJI Mavic Pro drone at the Cutting-Edge IT & Electronics Comprehensive Exhibition (CEATEC) at Makuhari Messe in Chiba, Japan, on Oct. 4, 2016. Tomohiro Ohsumi | Bloomberg
by Gina Hall
SILICON VALLEY — The drone industry is shifting its focus to business applications as consumer demand for the aerial devices appears to wane.
Drone investors and entrepreneurs are seeing lucrative opportunities for drones in industries such as insurance, construction, agriculture and environment, according to Reuters. By 2020, $127 billion worth of labor and business services could be replaced by drones, according to a May report from consulting firm PricewaterhouseCoopers. Moreover, “In the next decade, the burgeoning commercial drone industry is projected to generate more than $82 billion for the U.S. economy and, by 2025, could support as many as 100,000 new jobs,” White House representatives recently wrote in a fact sheet.