IMARC Group, a leading market research company, has recently releases report titled “Consumer Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the consumer drone market share. The global market size reached US$ 4.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2032, exhibiting a growth rate (CAGR) of 10.86% during 2024-2032.
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Factors Affecting the Growth of the Consumer Drone Industry:
- Reducing Costs of Drones:
The growing adoption of consumer drones due to their decreasing prices is offering a positive market outlook. In line with this, key manufacturers are introducing a range of drone models at various price points, allowing people to choose that aligns with their budget and requirements. Besides this, the wide availability of second-hand or refurbished drones provides a cost-effective option for individuals. Furthermore, cost reduction assists in attracting a larger consumer base across the globe, which is impelling the market growth.
- Technological Innovations:
Technological advancements, such as the integration of high-resolution cameras and advanced image stabilization technologies, in consumer drones make them ideal for photography and videography enthusiasts. Besides this, advancements in battery technology assist in providing longer flight times. They also allow drones to perform activities, such as aerial exploration and monitoring tasks, for extended hours. In line with this, consumer drones are equipped with features, such as obstacle avoidance, global positioning system (GPS) navigation, and autonomous flight modes, which is strengthening the growth of the market.
- Rising Preferences for Aerial Photography and Videography:
The growing demand for consumer drones on account of the rising trend of aerial photography and videography among the masses across the globe is positively influencing the market. People are increasingly using drones to capture stunning aerial imagery and videos for both personal and professional purposes. In addition, the rising utilization of consumer drones in weddings and events to capture shots and record videos from different angles with high quality is propelling the growth of the market. Drones are also used in real estate applications to showcase properties and scenic destinations to individuals.
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Leading Companies Operating in the Global consumer drone Industry:
- Autel Robotics
- Guangdong Syma Model Aircraft Industrial Co. Ltd.
- Guangzhou Walkera Technology Co. Ltd.
- Horizon Hobby LLC
- Hubsan
- Jianjian Technology Co. Ltd.
- Parrot SA
- Skydio Inc.
- SZ DJI Technology Co. Ltd.
- Yuneec International
Consumer Drone Market Report Segmentation:
By Product:
- Multi-rotor
- Nano
- Others
Multi-rotor represented the largest segment as it can hover, take off, and land drones vertically.
By Technology:
- Autonomous Drone
- Semi-Autonomous Drone
- Remotely Operated Drone
On the basis of technology, the market has been divided into autonomous drone, semi-autonomous drone, and remotely operated drone.
By Distribution Channel:
- Online
- Offline
Based on the distribution channel, the market has been bifurcated into online and offline.
By Application:
- Toy/Hobbyist
- Prosumer
- Photogrammetry
Toy or hobbyist hold the biggest market share due to their user-friendly feature and affordable price range.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America dominates the consumer drone market on account of the presence of numerous key manufacturers.
Global Consumer Drone Market Trends:
Key manufacturers are investing in research and development (R&D) activities to make consumer drones user-friendly. They are also introducing features like one-touch take-off and landing, intuitive smartphone apps for control, and beginner-friendly flight modes. This accessibility features encourages individuals to purchase drones, which is bolstering the market growth.
Consumer drones are perceived as an eco-friendly mode of transportation compared to traditional vehicles. The electric propulsion systems used in many consumer drones produce fewer emissions and have a smaller carbon footprint that assists in attracting eco-conscious people.
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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