Global Consumer Drone Market Report 2022 to 2030: Technology Proliferation and Surge in Investments by Prominent Players Are Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Consumer Drone Market Size, Share & Trends Analysis Report by Product (Multi-rotor, Nano), by Application (Prosumer, Toy/Hobbyist, Photogrammetry), by Region (APAC, North America), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global consumer drone market size is projected to reach USD 11.56 billion by 2030, registering a CAGR of 13.8% from 2022 to 2030.

The industry is projected to expand significantly due to its widespread commercial and leisure applications. Companies are using drone-acquired data to speed up service delivery in their business operations.

Evolution in in-flight controls and technology, as well as advancements in portable video and camera technology, have boosted the demand for consumer drones, such as tiltrotors, multi-copters, and helicopters. The development of cutting-edge technology that makes drones safer, such as geo-fencing and collision avoidance, has led to a rise in the use of consumer drones across several industries.

New developments in the manufacturing of consumer drones have raised product demand. The latest drone model specifications include a higher range, faster speeds, navigation systems that can be connected to the user's phone, and efficient, safe, and effective control systems.

Consumer drones are provided with all the components for the best control systems and power efficiency by motor drivers, angle, position, charger sensors, chargers, and regulators. These properties of consumer drone parts are superior in performance and consume little power, positively influencing consumer purchasing decisions. The increasing popularity of drone racing and drone photography competitions, as well as other initiatives that promote drone flying as leisure, is also attributed to the industry expansion.

In addition, the administrative authority, which allows drones to fly for non-commercial purposes in specific locations also promotes the expansion of the industry.

Consumer drone sales are expected to increase in regions like North America and Europe due to the DIY developer drone, which includes customized drone fabrication. In the upcoming years, factors including the growing number of startup companies entering the UAV sector in developing nations like China are anticipated to fuel regional market expansion.

Consumer Drone Market Report Highlights

• The multi-rotor segment accounted for the majority of revenue share in 2021. Multi-rotor drones are utilized more frequently in photography and racing. The main aspects influencing the rising popularity of multi-rotor drones are their capacity to operate in challenging environments and the development of several cutting-edge applications
• The prosumer segment is expected to witness the highest CAGR from 2022 to 2030 owing to their increased application in gaming enthusiasts to accept drones as their newfound source of entertainment
• Asia Pacific accounted for the largest share in 2021 and is expected to emerge as a predominant region over the forecast period. Increasing investment by Japan and China in producing multi-functional drones for various applications is expected to drive regional growth over the forecast period

Market Dynamics

Drivers

• Capturing images and video in high resolution
• Technology proliferation and surge in investments by prominent players
• Dynamic applications and hobby areas
• Surge in the disposable income

Restraints

• Maintenance and repair complexities
• Privacy concerns and the threat of accidents

Companies Mentioned

• 3D Robotics, Inc. (Kitty Hawk)
• Da-Jiang Innovations Science and Technology Co. Ltd (Dji)
• Eachine
• Guangdong Cheerson Hobby Technology Co. Ltd
• Guangdong Syma Model Aircraft Industrial Co. Ltd (Syma)
• Guangzhou Walkera Technology Co. Ltd. (Walker)
• Yuneec International Co. Ltd.
• Skytech Drones Sp. Z O. O
• Horizon Hobby, LLC
• Parrot Drone Sas.
• Shantou Chenghai Weili Toys Industrial Co. Ltd. (Wltoys)
• Jianjian Technology Co. Ltd.
• Hubsan

For more information about this report visit https://www.researchandmarkets.com/r/qpwpwt