Drone Camera - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Drone Camera - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Drone Camera Market size is estimated at USD 13.76 billion in 2024, and is expected to reach USD 42.73 billion by 2029, growing at a CAGR of 25.43% during the forecast period (2024-2029).

Though the COVID-19 pandemic has affected the recreational and entertainment sector and the related drone operations in 2020, other industrial sectors rebounded quickly in 2021, fueling the resurgence of drone demand. On the other hand, the advent of the pandemic has also helped the industry witness new use cases, especially from law enforcement applications for monitoring the enforcement of COVID-19 measures.

Increasing demand for aerial photography and videography, along with reduced drone costs, is a major factor driving the market growth. Drone cameras are less expensive compared to traditional camera equipment for collecting high-quality footage. Aerial surveillance is required in situations such as crowded gatherings, large sports competitions, and summer festivals. Moreover, the growing use of drone cameras for real estate photography, mapping and surveying, agriculture, emergency response, search and rescue operations, maritime rescue, meteorology, and delivery, among other things, is driving the drone camera market.

Drone Camera Market Trends

Surveillance to Dominate the Market During the Forecasted Period

The surveillance segment of the drone camera market is expected to dominate the market share while also exhibiting the highest growth rate during the forecast period. Drones monitor potential suspects or areas to keep track of their movements. Drones with cameras have several advantages, including outstanding picture quality and ease of use for security. Also, they can offer thorough information on locations, provided they work well on hard-to-reach spots. For instance, in November 2021, the drone-in-a-box solutions provider Percepto announced the launch of a new drone called Air Mobile. The Air Mobile is claimed to be ideal for linear inspections and can monitor short-term projects across multiple sites in sectors like construction. The Air Mobile drones can be stored permanently on-site within their respective Percepto Bases. The encasements are designed for infrequent maintenance and protection against extreme environmental phenomena, such as hurricanes. Such innovative products are expected to gain customer preference during the forecast period.

Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period

The Asia-Pacific region is expected to witness rapid growth during the forecast period as drones are envisioned to be adopted in large numbers by end-users based in the region. Furthermore, an increase in research and development (R&D) initiatives for cutting-edge drones for military applications such as border security and surveillance, as well as rapid digitalization, especially in rural regions are also anticipated to drive the demand for drones and associated accessories such as drone cameras.

On this note. Asia-Pacific is rapidly adopting technology for agriculture driven by the rising labor costs which makes technology-driven agriculture much cheaper and more reliable than traditional methods. For instance, Kisan drones, or farmer drones, are more frequently used in India to assess crop damage and digitize land records. Moreover, the expanding use of drones for various industries such as tourism, real estate, insurance, construction, meteorology, etc. is also expected to drive the demand for the drone camera market in this region.

Drone Camera Industry Overview

The drone camera market is moderately consolidated in nature with only a few players holding a majority of the market share. Some prominent market players are Sony Corporation, Panasonic Corporation, GoPro Inc., Canon Inc., and Teledyne FLIR LLC. However, many small companies and startups have entered the market in the past few years due to the high profitability of the market. Companies are competing to gain market shares and are developing advanced technology-integrated drone hardware and software solutions that reduce human effort in applications such as mining, construction, and aerial mapping. Additionally, leading market players are offering drone delivery services to carry small packages to clinics and hospitals in their world countries. They are also offering collision avoidance and customizable flight pathing options to retain a competitive edge in the market. Furthermore, the rising number of drone professionals offering different services to cater to individual needs and compete in drone festivals is creating a favorable market outlook.

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