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Consumer Drones Market is Expected to Rise at a 13.2% CAGR, Generating Revenue of US$ 12.46 Billion by the End of 2032 | FMI
Consumer Drones Market
Consumer drones are a type of UAV (Unmanned Aerial Vehicle) that can be operated autonomously from the ground or remotely controlled. Consumer drones are also known as recreational drones or personal drones.
Formerly, the application of drones was limited to conventional applications in military, where these are utilized as weapon platforms, and for security surveillance purposes.
At the present time, drones are being used for a large range of applications which includes activities such as weather monitoring, search & rescue, geographical mapping, firefighting, traffic monitoring, delivery services, agriculture, etc., and the latest addition to these is consumer or personal use.
This includes use for hobby photography, personal events such as weddings, etc.The consumer drones are available in the market in various categories including such as fixed wing and hybrid drones.
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Manufacturers are also providing Nano-drones, multi-rotor drones for highly efficient operation. Moreover, technological advancements such as collision prevention and geo-fencing are expected to proliferate the demand for consumer drones in during the forecast period.
The COVID-19 pandemic crisis is expected to hamper the short term growth in demand for consumer drones market owing to slowdown of outdoor activities involving commercial drones, and unavailability of the workforce required for necessary operations.In addition, many e-commerce companies have discontinued the supply of non-essential items having negative impact on the consumer drones market growth.
Consumer Drones Market: Dynamics
Increasing awareness and availability of consumer drones, high resolution image & video capturing coupled with advancement in drone technologies are prominent factors driving the growth of consumer drones market over the coming years.
The growing prominence of aerial photography is propelling the demand for consumer drones. Photography enthusiasts are progressively utilizing consumer drones, for capturing videos and photographs, instead of high-end video cranes.
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This popularity is paving the way for growth in demand for consumer drones market. According to Federal Aviation Administration of the U.S., the number of hobbyist drones is expected to triple in number reaching 3.5 million by 2021 from the value of 1.1 million in 2016.
The stringent government regulations to guide operations under several circumstances and concerns regarding shortage of battery life are the factors expected to hamper the growth of growth of the consumer drones market.
However, the market players are poised for extension in the limits of consumer drones and are manufacturing drones with longer battery life coupled with improved stability.
The manufacturers are focusing on automation of consumer drones with the use of artificial intelligence, which enables programming of flight instructions within the drone itself Furthermore, integration of deep-learning algorithms, and other machine learning methods are the eminent trends fueling the growth of the consumer drones market.
Consumer Drones Market: Regional Outlook
North America is expected to hold substantial share in the consumer drones market. High disposable income of the population, increased governmental spending on advanced consumer drones coupled with advantageous initiatives by the Federal Aviation Authority (FAA) are expected to drive the growth of consumer drones market in the region.
The consumer drones market in the Europe is estimated to account for nearly one third share in the global market, attributing to presence of large number of manufacturers in the countries from the region.
The new regulations for provision of fertile and safe environment and integration of drones in European civil airspace are also fueling the market growth in the region.
Major investors form developed countries are inclining towards investment in promising markets from emerging economies from Asia Pacific including China and India. On the back of these initiatives Asia Pacific is expected to witness prominent growth over the forecast period.
Consumer Drones Market: Key Participants
DJI Innovations
3D Robotics
Ehang Inc.
Mota Group
Autel Robotics
Delair Tech
Eachine
Meijiaxin Innovative Technology Ltd
Horizon Hobby
Parrot SA
Hobbico Inc.
JIANJIAN TECHNOLOGY Co. Ltd.,
Guangdong Cheerson Hobby Technology
Shenzhen Hubsan Technology
The research report on Consumer Drones Market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Consumer Drones Market report also contains projections using a suitable set of assumptions and methodologies. The research report on Consumer Drones Market provides analysis and information according to market segments such as geographies, product type, technology, and application.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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