DUBLIN–(BUSINESS WIRE)–Jun 29, 2020–
The “Consumer (Recreational) Drones Global Market Report 2020: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com‘s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global consumer drones market.
This report focuses on consumer drones market which is experiencing strong growth. The report gives a guide to the consumer drones market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global consumer drones 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%.
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The North American market is the largest market for consumer drones and is expected to continue to be the largest market during the forecast period.
The consumer drones market covered in this report is segmented by type into fixed wing drone; rotary blade drone; hybrid drone. It is also segmented by technology into remotely operated drone; semi-autonomous drone; autonomous drone and by application into hobbyist & gaming; aerial photography; others.
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. According to the World Health Organization, coronavirus is spread in 214 countries worldwide disrupting the manufacturing and logistics across various industries. Various e-commerce companies have discontinued the supply of non-essential items affecting the consumer drones industry along with other electronic supplies. Many countries have announced lockdowns, prohibiting inessential movement of their citizens out of their houses. Moreover, the shutdown of major brand stores, hypermarkets and supermarkets have resulted in a decline in the sales through offline channels.
The rising popularity of aerial photography is driving the consumer (recreational) drones market. Photography enthusiasts are increasingly using drones to capture photographs and videos from a birds-eye view, which would otherwise require high-end video cranes. This increase in popularity has led consumers to purchase hobbyist drones and use them for photography purposes, driving market growth. According to the United States Federal Aviation Administration, there were 1.1 million small hobbyist drones in 2016 and this is expected to triple in number to reach 3.5 million by 2021.
Key Topics Covered:
1. Executive Summary
2. Consumer (Recreational) Drones Market Characteristics
3. Consumer (Recreational) Drones Market Size And Growth
3.1. Global Consumer (Recreational) Drones Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Consumer (Recreational) Drones Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Consumer (Recreational) Drones Market Segmentation
4.1. Global Consumer (Recreational) Drones Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Consumer (Recreational) Drones Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Consumer (Recreational) Drones Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Consumer (Recreational) Drones Market Regional And Country Analysis
5.1. Global Consumer (Recreational) Drones Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Consumer (Recreational) Drones Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- 3D Robotics
- Parrot S.A
- Guangdong Cheerson Hobby Technology
- Shenzhen Hubsan Technology
- Horizon Hobby
- Guangdong Syma Model Aircraft Industrial
For more information about this report visit https://www.researchandmarkets.com/r/ftbdrp
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SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 06/29/2020 11:05 AM/DISC: 06/29/2020 11:05 AM
Copyright Business Wire 2020.