Soaring Horizons Exploring the Consumer Drones Market psmarketresearch.com

From the value of $389.7 million in 2015, the global consumer drones market, according to the estimates of the market research company, P&S Intelligence, will exhibit a CAGR of 28.1% during 2016-2022 and reach a value of $2,196.9 million by 2022. The major factors impacting the growth of this market are the surging demand for racing drones and the emergence of advanced technologies, such as collision and geo-fencing.

The advent of advanced multi-rotor drones and their ability to perform under extreme conditions are the major factors driving the sales of consumer drones globally. TBS Gemini, STORM Racing Drone Type A, Eachine Racer 250, and OFM Seeker 450 v2, are some of the consumer drones that have been developed in recent years. Amongst these, the TBS Gemini stands uniquely as it comprises hexacopter or six-rotor design, and with the extra two rotors, the performance of TBS Gemini increases in various ways, such as increase in speed and agility and improved stability. Thus, the ballooning popularity of racing drones is propelling the consumer drones market.

Another significant factor thrusting the consumer drones market globally is the surging application of VR and AR in drones. Various market players are actively focusing on embedding high-definition (HD) cameras and the AR technology in drones to reduce the reliance on laptops and tablets. It leads to easier operations as the benefit of having AR glasses is that it provides field service technicians with a hands-free solution, thereby offering them better access to visualize the job-critical data along with expert knowledge. SAP, SE, and Parrot SA are some of the companies integrating AR glasses in drones to enhance the consumer experience.

Within the product type segment f the consumer drones market, the nano drones category is predicted to exhibit the fastest growth in the coming years. It is due to the growing adoption of these drones in the North American and APAC regions, owing to their features, such as portability and high efficiency in photography and security applications. Another vital segmentation of this market is based on the end-user and this segment was dominated by the prosumers category in the past. The photogrammetry professionals category is predicted to exhibit huge expansion in the coming years, as photogrammetry professionals are extensively using consumer drones for obtaining a three-dimensional (3D) model of some landmass or real-world object.

Across the globe, North America dominated the consumer drones market in the past by contributing the highest revenue due to the high level of awareness about these drones among the regional population. The evolution of technologies within drones such as geo-fencing, and collision avoidance, have also increased the popularity of these drones in the region. On the other hand, APAC is anticipated to register the fastest growth with a CAGR of 31.2% in the coming years. It is ascribed to the surging demand for compact drones in regional countries, such as Japan, China, and South Korea.

Hence, the burgeoning popularity of drones and rapid technological advancements are predicted to drive the growth of the market in the coming years.