Consumer Drone Market 2020 Industry Growth, Trend, Key Players (3D Robotics, Autel Robotics, Delair Tech, DJI, Ehang Inc., Horizon Hobby, Shenzhen Hubsan Technology, Xiaomi Technology) and Forecast 2024

Powered by the advent of sophisticated machine learning algorithms and growing integration of AI, consumer drone market has been skyrocketing in the recent times. There has been a phenomenal spurt in the number of drone operators world over who buy high-grade and technologically superior drones with an aim to utilize them commercially. Apparently, the escalating demand for UAVs from diverse business sectors has compelled the prominent consumer drone industry participants to incorporate latest technologies such as geofencing and collision detection into these flying beauties.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. 3D Robotics
2. Autel Robotics
3. Delair Tech
4. DJI
5. Ehang Inc.
6. Horizon Hobby
7. Shenzhen Hubsan Technology
8. Xiaomi Technology

The incredible advancements in the tech space have indeed been a major driving force for consumer drone market growth. Unmanned aerial vehicles have been used for military and meteorological purposes for long but have witnessed a surging demand in the recent years. This progress can be attributed not only to compactness of size, but also to the increasing deployment of drones in a plethora of application sectors such as videography, journalism, crime fighting, and search and rescue operations. A brief outline of two pivotal applications of consumer drone industry is enumerated in the paragraphs below, that may provide a better insight into the current dynamics of this business space.

The presence of social media has substantially propelled consumer drone market, given the extensive deployment of the product for what netizens claim as 'dronie' - the supposed next big thing in the social media circuit. 'Dronie' is seen as an upgrade of the selfie and is captured by the drone several hundred feet above one's head. With a considerable upsurge in the sales of drones that can carry an iPhone or a smartphone, consumer drone industry has been registering commendable growth in the last few years.

Some drones are being designed with technology that follows the subject with the help of sensors and perpetually hovers over the subject's head. The social media has also created a generation of exhibitionist consumers who want to record every event they attend. Drones have created the scope for capturing these events form a bird's eye viewpoint, naturally becoming a popular videography choice for recording weddings, family picnics or music concerts. This trend has now been robustly catching up all over, subsequently stimulating consumer drone market outlook.

The rise of drone photography is also urging a new type of citizen journalism that uses a drone to fly over an affected area without causing any risk to the operator. As the consumer drone market gains maturity in the ensuing years, drones are expected to revolutionize journalism with advanced video footage of warzones or contaminated areas.

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In the years to come, consumer drone market will witness intense competition, as major players from myriad other industries will also join the bandwagon to establish themselves in this space. Even currently, the competitive landscape of consumer drone industry is almost cluttered, with hundreds of startups and manufacturers of both hardware and software ruling the vertical. By 2024 however, the increasing number of mergers and acquisitions is expected to severely consolidate this vertical. Furthermore, tech giants such as Google, Facebook, and Intel will continue to conduct advanced research and development programs that would reshape consumer drone market dynamics. Driven by the robust product demand across numerous sectors and the proactive participation of companies, consumer UAV industry is expected to surpass $9 billion by 2024.

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