New York, NY, December 20, 2017 (Newswire.com) - With 75% shares held by top two companies, Parrot S.A. and DJI in 2016, the global market for commercial drones is highly consolidated, states Transparency Market Research (TMR). The leading strategy adopted by most players within the market is to consistently improve their technological aspects and make highly functional drones to attract customers. Players are also concentrating on improving the image quality and bettering the landing capabilities.
As per TMR, the global commercial drones market will be worth US$8.89 bn by the end of 2025. On the basis of type, the multi rotor segment had the highest contribution in the year 2016 as it had the largest share of 33.2%. On the basis of application, the aerial photography sector led the market by contributing around 25% of the share in the year 2016. The growth in usage of commercial drones in the fields of entertainment and media for capturing high definition aerial photos for video shots will give a boost to this market. Most drones that are being used today to capture aerial photos are equipped with high definition cameras in them. On the basis of geography, the North American region contributed the largest share by accounting for 35% of the global market in the year 2016.
Need for Surveillance and Precision Agriculture Driving Adoption of Commercial Drones
The rise in usage of commercial drones for the purposes of precision agriculture, for capturing aerial photos, and surveillance purposes can be seen from the past few years. Videos and photos shot on the latest version of drones result in high definition and better quality of images and videos, which expands their usages to other important industries as well. Plus, due to the growth in technological advancements, better image and video formats that support smartphones along with televisions have come into existence. This rise in need for better quality photos is encouraging the developers to develop enhanced versions of the existing drones with better features. Plus, due to the number of products available along with the rise in competition, will help the growth of this market.
Use of VR and AR in Existing Commercial Drones to Emerge as Trend
With the growth in the technological sector, 4K televisions have come into existence that has led to the viewers expecting clearer and enhanced image and video outputs. Learning from the present scenarios, companies like DJI and YUNEEC have brought about commercial drones that provide consumers with the option to monitor high definition videos and also capture 4K videos. Such profitable trends along with the constantly falling prices will create enough profitable opportunities and ultimately give boost to this global drones market. Further, the, inclusion of virtual reality and augmented reality into the previously existing commercial drones, is creating a surge in demand for drones.
Increasing Number of Spying Drones to Compel Governments to Lay Strict Regulations Regarding Use of Drones
Drones are also capable of capturing private activities which has led its prohibition in certain areas, hence large number of drones has caused privacy issues for consumers. The governments are also creating certain regulations regarding the using of drones. In addition to this, the increasing number of spying drones is making governments implement severe rules pertaining to the illegal usage of drones. Factors like these, adversely affect the growth of drones. Nevertheless, the rising usage of drones in the developed countries is most likely to retain its market growth. Manufacturers are also working on minimizing human errors arising out of site designs. Throughout the assessment period, the usage of drones for transporting and delivering purposes is most likely to give boost to the market growth. Drones will come in handy to deliver small couriers and packages like medicines, letters, beverages, pizza in the nearby areas.
This information is taken from the report, titled as “Commercial Drones Market (Types - Multi-rotor, Single Rotor, Fixed Winged, and Hybrid; Application - Precision Agriculture, Aerial Photography, Surveillance, Survey Mapping, and Energy) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
This market has been segmented for the following categories:
Global Commercial Drones Market, By Types
- Multi-rotor drones
- Single rotor drones
- Fixed winged drones
- Hybrid drones
Global Commercial Drones Market, By Application
- Precision Agriculture
- Aerial Photography
- Survey Mapping
Global Commercial Drones Market, By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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Source: Transparency Market Research