Global Consumer (Recreational) Drones Market To Recover From COVID-19 Crisis At Growth Rate Of 12%
The global consumer drone market is expected to decline from $2.47 billion in 2019 to $2.33 billion in 2020 at a compound annual growth rate (CAGR) of -5.60%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.27 billion in 2023 at CAGR of 12.00%. Photography enthusiasts are increasingly using drones to capture photographs and videos from a birds-eye view, which would otherwise require high-end video cranes, driving market growth. However, the slowdown in use of commercial drones for outdoor activities and unavailability of the workforce to carry out necessary operations owing to the COVID-19 outbreak is projected to limit the growth of the consumer drones industry.
The consumer (recreational) drones market consists of sales of consumer drones and related services. These drones are unmanned aerial vehicles used for purposes of entertainment and have simple-to-use controls targeted at general public use rather than for commercial purposes.
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The global consumer drones market is further segmented based on type and geography.
By Type: Fixed Wing Drone, Rotary Blade Drone, Hybrid Drone
By Technology: Remotely Operated Drone, Semi-Autonomous Drone, Autonomous Drone
By Application: Hobbyist & Gaming, Aerial Photography, Others
By Geography: The global consumer drones market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American consumer drones market accounts for the largest share in the global consumer drones market.
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Trends In The Consumer (Recreational) Drones Market
Drone manufacturers are increasingly using artificial intelligence to enable automation of consumer drones. Consumer drones that fly beyond the controller’s range and line-of-sight are being equipped with self-navigating technology through the integration of deep-learning algorithms and other machine learning methods. Drones are usually controlled using a wireless remote controller. However, with artificial intelligence, flight instructions can be programmed within the drone itself. Using variables such as target location, engine rotor speed, height, air-speed velocity and other environmental factors, the drone can learn how to fly by itself and make self-corrections whenever necessary.
Consumer (Recreational) Drones Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides consumer drones market overviews, analyzes and forecasts consumer drones market size and growth for the global consumer drones market, consumer drones market share, consumer drones market players, consumer drones market size, consumer drones market segments and geographies, consumer drones market trends, consumer drones market drivers and consumer drones market restraints, consumer drones market’s leading competitors’ revenues, profiles and market shares. The consumer drones market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.