Consumer Drone UAV Market Growth and Forecasts By Key Players: 3D Robotics, Cheerson Hobby, DJI, Hobbico, Horizon Hobby, Jianjian Technology, Parrot, Meijiaxin Innovative Technology, Mota Group, Shenzhen Hubsan Technology, SkyTech, SYMA, UDI RC, Walkera T
The consumer drone UAV market is driven by the increasing awareness and understanding of the drone technology. This has enabled the government to take a proactive measure to ensure safety, reliability, and convenience for recreational purposes. The relaxation by the government authorities on the use of drones for recreational and non-recreational purposes is also augmenting the market growth. Furthermore, increasing investment initiatives and supportive government policies will also foster the market growth. Consumer Drone Market size is set to generate revenue of more than USD 9 billion and exceed 15 million units by 2024
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Top Key Players:
The major players in the consumer drone UAV market are 3D Robotics, Cheerson Hobby, DJI, Hobbico, Inc., Horizon Hobby, Jianjian Technology, Parrot, Meijiaxin Innovative Technology, Mota Group, Shenzhen Hubsan Technology, SkyTech, SYMA, UDI RC, Walkera Technologies, and Yuneec.
Market share calculation in this report is not done based on companies covered in it. The calculation of consumer drone UAV market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America is leading the market with a share of over 62% in the year 2016. The growth of the consumer drone UAV market is attributed to the supportive administrative efforts by the government authorities for the recreational use of the drones. The high disposable income of the population in the region also aids in the market growth. Moreover, increasing investments in the drone technology along with the supportive administrative support will foster the market growth.
Asia Pacific consumer drone UAV market is set to witness an extensive growth during the forecast period in the light of the growing investments in the drone technology in China and other developing economies such as India. The growth of the region is attributed to the rapid increase in the awareness among the population about drones and governments’ relaxation toward the regulations for recreational purposes. Furthermore, the presence of market leaders in the consumer drone space, such as DJI, Yuneec, and Walkera, will also augment the market growth.
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Partial Chapter of the Table of Content
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Consumer drone industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends
2.1.4. Technology trends
2.1.5. Application trends
Chapter 3. Consumer Drone Industry Insights
3.2. Consumer drone industry segmentation
3.3. Consumer drone industry landscape, 2013 - 2024
3.4. Consumer drone industry ecosystem analysis
3.5. Consumer drone market evolution
3.6. Consumer drone market news
3.7. Consumer drone regulations
3.7.12. South Korea
3.7.18. South Africa
3.8. Technology & innovation landscape
3.8.1. AI in drones
3.8.2. Nano & Mini drones
3.8.3. Cloud computing-based services
3.8.4. High resolution HD 4K and advanced gimbal systems cameras
3.8.5. IoT drones
3.8.6. Hydrogen fuel cells
3.9. Industry impact forces
3.9.1. Growth drivers
184.108.40.206. Rising awareness and availability of the drones
220.127.116.11. Advancement in drone technology
18.104.22.168. High resolution video & image capturing
22.214.171.124. Administrative support & initiatives
126.96.36.199. Increasing investment activities in China & other developing economies
3.9.2. Industry pitfalls & challenges
188.8.131.52. Shortage of battery life & stringent government regulations
184.108.40.206. Privacy and safety issues
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. PESTEL analysis
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Previously, UAVs were known as a sophisticated military technology and used only for combat operations. However, technological advancements in the technology have developed several new consumer and commercial applications. The technological advancements and the decline in the price of the components have also attracted the several industry verticals, such as gaming sector, to adopt UAVs for augmented reality games and racing purposes.
The advancements in the drone technology aid the consumer drone UAV market growth. The drone industry is exploring various UAV applications with emphasis on developing fully-autonomous consumer drones. The integration of AI and advanced machine learning algorithms enable independent operation of drones, which is estimated to develop myriad opportunities for the growth of the market. For instance, in 2018, Skydio, an autonomous UAV manufacturer launched consumer drone R1, powered by AI and advanced machine learning algorithms. It is one of the first professional grade drones, which can be flown without any expertise or interference from a human operator.
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