Consumer Drone Market to Grow at 23.4% CAGR to 2020

PUNE, India --- The global consumer drone market analyst says one of latest trends in the market is adoption of drones for sports. The use of consumer drones for sports is increasing with its growing popularity. Mountain Dew, a carbonated soft drink brand produced and owned by PepsiCo, and DR1 Racing organized a drone race in August 2016. The event made use of 12 of the world's top drone-racing pilots. They controlled the drones from the top of the dam and maneuvered them around a large number of obstacles while flying them at speeds of more than 75 miles per hour. The race included various heats, qualifiers, and finals over the course of two days.

This analyst forecast the global consumer drone market to grow at a CAGR of 23.40% during the period 2016-2020. According to the consumer drone market report, one of the primary drivers in the market is use of consumer drones for photography. As of 2015, there had been a lot of social media attention on photographs taken with drones. This is because the use of drones for photography is still in the nascent stages, and a lot of people are interested to see the different types of photographs or videos that can be taken using drones. More than 80% of the consumer drones users upload their photos online. The demand for consumer drones will increase as people are keen to share these photos and videos through popular social networking sites such as Facebook, Twitter, and LinkedIn.

The global consumer drone market by prosumers generated revenue of about $980 million in 2015 and will grow at a CAGR of close to 22% by 2020. The extensive use of commercial drones to share personal information such as contacts by connecting with several drones will lead to the growth in this market segment. The global consumer drone market by hobby generated revenue of around $780 million in 2015 and will grow at a CAGR of more than 26% by 2020. Promotional strategy introduced by various vendors that provide the users an opportunity for free trials of drones will boost the demand for consumer drones in this market segment.

The global consumer drone market by photography generated revenue of around $200 million in 2015 and will grow at a CAGR of more than 15% by 2020. The growing use of consumer drones such as multirotor in photography will fuel the growth of this market segment. The introduction of GPS-enabled UAV for aerial surveying will revolutionize the consumer drone market during the forecast period.

The following companies are the key players in the global consumer drone market: 3D Robotics, Cheerson Hobby, DJI, Parrot, Walkera, and Yuneec. Other prominent vendors in the market are: JJRC, AirDog, Delair-Tech, Hexo+, Hobbico, and Shenzhen Hubsan Technology.

Global Consumer Drone Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global consumer drone market for 2016-2020. To calculate the market size, the report provides the revenue, which is calculated based on the average selling price (ASP) of consumer drones.

Complete report on consumer drone market spread across 59 pages, analyzing 6 major companies and providing 30 data exhibits is now available at http://www.rnrmarketresearch.com/global-consumer-drone-market-2016-2020-market-report.html

Order a copy of Global Consumer Drone Market 2016-2020 report at http://www.rnrmarketresearch.com/contacts/purchase?rname=743183
 

Suggested Articles

U.S. Commerce Department beefs up attacks on TikTok and WeChat, banning downloads at first. Eventually the bans will be total, unless some other agree

Analyst Jack Gold describes the TikTok battle as a big win for China.

Analyst Leonard Lee argues that if Nvidia can get regulatory approvals to buy Arm, the entity would be a challenge to Intel's data center dominance.…