Consumer drones market is projected to grow at a CAGR of 6.09% during the forecast period, reaching a total market size of US$4.278 billion in 2024 from US$3.000 billion in 2018. Drones are the aerial vehicles or aircraft systems working in conjunction with onboard sensors and GPS systems that can be controlled remotely or through the use of the software. Drones are normally used for defense, military, and warfare, but in recent times its use in various fields such as photography, agriculture, and farming, construction, sports and racing, surveying, medical emergency, aerial delivery, mining, etc have opened up the drones market. With the use of drones in a vast majority of fields, the market seems to be very lucrative in the future. These are widely adopted by the photography enthusiasts that is driving the market growth. Also, other factors such as rising disposable income, increasing adoption of IoT and cloud-based applications, and cheap data services play a key role in advancing the market size. Moreover, the significant reduction in the cost of the drones, easy operability, and the ability to carry more weight has boosted the market growth too. However, the existence of rules and regulations regarding the use of drones is acting as a restraint in the growth of consumer drones market.
The Consumer Drones Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by product type, application, technology, and geography.
The consumer drones market has been segmented based on product type, application, and geography. Based on product type the market has been segmented into fixed wing drone, rotary blade drone, and hybrid drone. By application, the market has been classified into hobbyist & gaming and aerial photography.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the consumer drones market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the consumer drones market.