Consumer Drone Market Analysis - New Opportunities Explored, Expansion at High CAGR Anticipated by 2024: Million Insights

Consumer Drone Market Analysis - New Opportunities Explored, Expansion at High CAGR Anticipated by 2024: Million Insights

PR Newswire

FELTON, California, April 29, 2020

FELTON, California, April 29, 2020 /PRNewswire/ -- Global Consumer Drone Market is estimated to grow significantly in the forecast period owing to the increasing number of consumers encompassing the defense and entertainment sector. Consumer drones or UAVs are effectively navigated without a pilot on board the vehicle. They come in wide range of sizes and are extensively used for defense and entertainment purposes. Usually covering large areas like geographical surveys or wildlife poaching, consumer drones are paving the way for market growth.

Consumer drones market is majorly driven by integration of artificial intelligence and advanced machine learning algorithm. Moreover, increase in demand for UAVs stimulates the existing market players to use technologies such as geo-fencing and collision detection technology. These modernizations improve security, which makes the systems ideal for recreational and non-recreational uses. They also comply with the aviation authorities coupled with government initiatives and growing awareness are driving the consumer drone industry.

As compared to the military drones that are powered by solar energy, consumer drones run on batteries, which are expensive and need to be charged from time to time. This is expected to hamper the growth of consumer drone market. Additionally, strict regulations and security issues associated with drones are again obstructing the market growth. Gimbal, a payload holder attached to the drone, carries and stabilizes camera's rotation and positioning to record smooth images and films. The growing efficiency of camera gimbals is a rising trend in the consumer drones industry.

The market of consumer drone is categorized on the basis of product type, technology, application, and geography. On the basis of product type, the market is divided into rotary blade drone, fixed wing drone, and hybrid drone. The rotary blade drones leads the consumer drones market in the past and is expected to continue its dominance in future as well due to its characteristics like robustness, durability, and wide applications. Hybrid drones are also expected to gain popularity in the forecast period owing to its growing application in photogrammetry and features like long endurance flight, higher payloads and durability.

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Based on technology, consumer drone industry is separated into semi-autonomous drone, autonomous drone, and remote-operated drone. Remote-operated drones are predicted to dominate the market of consumer drone owing to the stringent regulations imposed by aviation authorities for using drones for entertainment purposes. Autonomous drones are anticipated to grow progressively in the coming years owing to the advent of artificial intelligence in the UAVs.

On the basis of application, consumer drone market is split into defense purposes, aerial photography, and gaming and hobbyist purposes. Despite several applications in military and defense sector, drones are extensively used by hobbyists and gaming professionals. This can be attributed to the technological modernizations in the systems and growing number of photography and videography artists.

Geographically, consumer drone industry is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Owing to the growing adoption of drones for entertainment purposes, increasing investments, and government support, North America is expected to lead the market of consumer drone in the near future.

The major players in consumer drones industry include Autel Robotics, EHang Inc., Guangdong Cheerson Hobby Technology Co. Ltd, Parrot Drones SAS, 3D Robotics, Inc., Hobbico, Inc., Horizon Hobby, LLC,SZ DJI Technology Co., Ltd., Mota Group, Inc., and Yuneec International Co. Ltd.

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