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Consumer Drone Market 2020 – 2024 | Demand, Opportunities Analysis and Segmentation Insights

Author : Ronak Bora | Published Date : 2020-09-10 

Consumer Drone market is projected to exceed USD 15.0 billion by 2024. The growth of the market is driven by the rising awareness and availability of the drones across the countries. The population of the countries is increasingly adopting drones as a widely accepted hobby. The integration of AI and development of collision detection technology are also estimated to have a significant impact on the growth of the market. However, the stringent government regulations associated with the use of drones for recreational purposes and the low battery life of the consumer drones are holding back the market growth.

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Powered by the advent of sophisticated machine learning algorithms and growing integration of AI, consumer drone market size 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.

Citing an instance of the same, one of the major consumer drone market players of France, Parrot has created a new division, named as Parrot Professional, to integrate its consumer and commercial grade drone technology. It would be prudent to mention that the firm deployed the said technology and has recently introduced new drones which can be utilized across agricultural and construction sectors.

Moreover, the latest drones would reportedly act as a bridge between Parrot’s low-priced and other highly-expensive consumer products. The launch of such innovative and cost-effective products would prove to be of immense convenience for operators to fly UAVs for commercial purposes, which would consequentially boost the consumer drone market in the ensuing years. In fact, as per reliable estimates, the overall remuneration portfolio of the global consumer drone industry is forecast to exceed USD 9 billion by the year 2024.

North America is leading the consumer drone market with a share of over 62% in the year 2016. The growth of the 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 is estimated to grow with a CAGR of over 27% during the forecast period. The strong presence of China in the market is driving the market growth. The Chinese drone manufacturer, DJI, held the maximum share in the consumer drone market. Yuneec International and Walkera Technologies also contribute significantly toward the market growth. Furthermore, the increasing awareness and adoption of the drone in the other Asian countries including India and Australia are also estimated to drive the market growth.

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Major vendors of the consumer drone market are: 3D Robotics, Parrot, DJI, Walkera Technologies, Shenzhen Hubsan Technology, Cheerson Hobby, Hobbico, Inc., SYMA, Horizon Hobby, SkyTech, Jianjian Technology, UDI RC, Mota Group, and Meijiaxin Innovative Technology.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology & Scope

1.1.  Methodology

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

1.2.1. Primary

1.2.2. Secondary

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

3.1.  Introduction

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

3.7.1. U.S.

3.7.2. Canada

3.7.3. U.K.

3.7.4. Germany

3.7.5. France

3.7.6. Italy

3.7.7. Spain

3.7.8. Australia

3.7.9. China

3.7.10.  India

3.7.11.  Japan

3.7.12.  South Korea

3.7.13.  Brazil

3.7.14.  Mexico

3.7.15.  Argentina

3.7.16.  UAE

3.7.17.  Israel

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

3.9.1.1.    Rising awareness and availability of the drones

3.9.1.2.    Advancement in drone technology

3.9.1.3.    High resolution video & image capturing

3.9.1.4.    Administrative support & initiatives

3.9.1.5.    Increasing investment activities in China & other developing economies

3.9.2. Industry pitfalls & challenges

3.9.2.1.    Shortage of battery life & stringent government regulations

3.9.2.2.    Privacy and safety issues

3.10.      Growth potential analysis

3.11.    Porter's analysis

3.12.    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/consumer-drone-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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