LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global consumer camera drones market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global consumer camera drones market is anticipated to grow to around 2.2 billion USD by 2022. The advancement in sensors and emergence of low-cost drones is a major factor driving the market’s growth.
The vendors in the drone market are capitalizing on the availability of mobile, intelligent, and connected sensors to enhance the capabilities of their offerings. Consumer drones are usually equipped with GPS, inertial, image, and ultrasound-based range sensors. With improvements in functionalities and features, the consumer drones are increasingly being equipped with thermal, hyperspectral and multispectral sensors. Besides, there will be an emergence of more consumer drones as the price of the sensors continues to fall. The hobbyist segment is relatively less price-sensitive and chooses high-cost drones that have features and properties like commercial drones. However, for the market to grow, vendors are increasingly introducing drones at a lower price.
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In this report, Technavio highlights the adoption of delivery drones as one of the key emerging trends driving the global consumer camera drones market:
Adoption of delivery drones
The delivery drones are designed to transport materials. A delivery drone will work with an anchor or basket-like feature on the bottom part. Fixed wing hybrid drones can take off and land vertically. These merge the benefits of fixed-wing UAVs with the ability to hover. Apart from this, these drones can also be used as aid drones. They can deliver first-aid materials and other items to a person who needs medical attention instead of waiting for proper authorities to reach a certain spot.
“There are only a limited number of fixed wings hybrid drones available in the market at present. However, a rise in the interest and demand for these drones is expected during the forecast period,” says a senior analyst at Technavio for research on consumer electronics.
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Global consumer camera drones market segmentation
This market research report segments the global consumer camera drones market into the following products (multirotor, fixed wing, and single rotor), and key regions (the Americas, APAC, and EMEA).
In 2017, the global consumer camera drones market was led by the multirotor consumer camera drone segment, followed by the fixed wing and single rotor consumer camera drone segments. The multirotor consumer camera drones segment accounted for more than 80% share of the global consumer camera drones market.
The growth of the consumer camera drones market is intense in the Americas. The region held approximately 59% of the overall market share in 2017. It was followed by EMEA and APAC respectively. Regionally, the markets in Eastern Europe and Latin America will gain traction after two to three years. The market in APAC is expanding, with major growth coming from emerging nations such as China and Japan.
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