According to the latest market research study released by Technavio, the global consumer drone market is expected to grow at a CAGR of more than 23% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global consumer drone market based on application:
Global consumer drone market share by application 2015
|
Prosumers |
50.00% |
|
Hobby |
40.00% |
|
Photography |
10.00% |
Source: Technavio
Global consumer drone market by prosumers
The global consumer drone market by prosumers generated revenue of about $980 million in 2015 and will grow at a CAGR of close to 22% by 2020. The extensive use of commercial drones to share personal information such as contacts by connecting with several drones will lead to the growth in this market segment. It is also used as a device to coordinate schedules of family members and friends and to monitor home security. Word of mouth and self-advertising techniques help in the marketing of these drones. The reviews uploaded by prosumers help users in choosing the right drone based on their requirements.
“The increasing use of consumer drones for professional and personal purposes by prosumers will help in the growth of this market segment. Prosumers help in mainstreaming of the new technologies, products, and services introduced in the market. Prosumers are also highly active on social media and hold strong opinions on the new technologies introduced, which help in marketing these products during the forecast period,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment services.
Global consumer drone market by hobby
The global consumer drone market by hobby generated revenue of around $780 million in 2015 and will grow at a CAGR of more than 26% by 2020. Promotional strategy introduced by various vendors that provide the users an opportunity for free trials of drones will boost the demand for consumer drones in this market segment. Consumers are replacing selfie sticks, smartphones, and tablets while participating in adventure sports. Adventure enthusiasts use flying drones as it allows them to click photos and record moments during the sport. These are very common for sports like rafting or rock climbing, where participants simultaneously take photos and record videos during the sport. For instance, a consumer drone called Lily received the Best of Innovations in Unmanned Systems and Accessories award because of its throw and shoot technology, which allows the capture of videos and photos without the need for navigation.
Global consumer drone market by photography
The global consumer drone market by photography generated revenue of around $200 million in 2015 and will grow at a CAGR of more than 15% by 2020. The growing use of consumer drones such as multirotor in photography will fuel the growth of this market segment. The introduction of GPS-enabled UAV for aerial surveying will revolutionize the consumer drone market during the forecast period. GPS-equipped drones are attached with digital cameras and technologies that provide the accuracy to up to 1-2 cm and is used for light detection and ranging (LiDAR) mapping. The different applications of these drones include archaeology, cellular network planning, and management, coastline security and management, forestry, 3D mapping, and contouring, etc.
The top leading vendors operating in the global consumer drone market are:
- 3D Robotics
- Cheerson Hobby
- DJI
- Parrot
- Walkera
- Yuneec
Other prominent vendors in the market include JJRC, AirDog, Delair-Tech, Hexo+, Hobbico, Shenzhen Hubsan Technology, Syma Toys, and UDIRC Toys.
A more detailed analysis is available in the Technavio report titled, ‘Global Consumer Drone Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Defense Drones Market 2016-2020
- Global Commercial Purpose Drone Market 2016-2020
- Global Civilian Drones Market 2015-2019
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