Consumer Drone Market by Product, Application and Key Players (DJI, WL Toys, 3D Robotics, Cheerson, Eachine, SkyTECH Solutions LLC, Yuneec Electric and Hubsan)
The Consumer Drone Market was worth USD 0.31 billion in 2014 and is expected to reach approximately USD 1.99 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 22.99% during the forecast period. The advent of new inventive technologies, for example, crash evasion and geo-fencing that make flying automatons more secure have prompted expanded adoption of consumer drones over the worldwide industry. The development in worldwide interest for drones and expanding adoption of consumer drones have prompted the making of new government controls, with a specific end goal to adjust safety and innovation. Worldwide populace is progressively accepting the emerging pattern of the automaton as a far and wide acknowledged leisure activity. Easy-going aficionados and early adopters contain a huge part of the business. However, support and repair complexities, and additionally security concerns and danger of mishaps related with drones are anticipated to challenge the market development throughout the following years.
The leading players in the market are DJI, WL Toys, 3D Robotics, Cheerson, Eachine, SkyTECH Solutions LLC, Yuneec Electric and Hubsan. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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Product Outlook and Trend Analysis
On the basis of products the market is segmented into nano, multi-rotor, and different automatons. Multi-rotor drones ruled the share of the market in 2015 and are foreseen to hold their predominance over the gauge time frame. Their development can be credited to expanded usage of multi-rotor drones in aerial photography and FPV dashing application. Nano drones are foreseen to witness significant development throughout the following couple of years inferable from their cost-effective activity. Their relative operational cost effectiveness is foreseen to expand the usage of such automatons for different purposes.
Application Outlook and Trend Analysis
Prosumer application portion is imagined to remain the overwhelming fragment throughout the following years and represented around 60% of the general share of the market in 2015. In different geographies, drone racing as a recreational hobby is being adopted at a high scale which has prompted expanded selection of automatons for prosumer applications. Toy/hobbyist applications fragment is anticipated to witness significant development in the upcoming years. The introduction of innovation in electronics has pulled in gaming portion enthusiasts to acknowledge drones as their freshly source of entertainment.
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Regional Outlook and Trend Analysis
North America market was esteemed at near USD 140 million in 2015 and is foreseen to develop significantly over the gauge time frame. The emergence of supportive activities by the Federal Aviation Authority (FAA) and an expanded legislative spending on such advanced drones are foreseen to drive the business development in the district. Europe represented more than 30% of the general business share in 2015 and is imagined to rise as an overwhelming area over the conjecture time frame.
The Consumer Drones Market is segmented as follows-
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