New research published by International Data Corp (IDC) shows the Chinese camera drone market is exploding.
IDC recently introduced the “China Quarterly Camera Drone Tracker Q3 2015”. The report says that while China’s camera drone industry is new, it may see a huge increase over the next five years, potentially reaching 3 million units by 2019.
The IDC research indicates several new market trends, including 4k recording, so far provided only by Chinese manufacturers DJI and Yuneec. Researchers predict that there will be increasing downward price pressure for camera drones, which may favor China; and that distribution channels will become more and more generalized, with drones more widely available online and at retail stores.
IDC also predicts that commercial applications will become a greater demand driver for camera drones, as innovators find increased uses in a variety of verticals. The report estimates that 30% of the entire camera drone market may be commercial by 2019.
While the IDC researchers find that DJI held on to almost 70% of the market in late 2015, a shakeup could be in the works as new providers gain investors, and existing players such as Sony enhance their offerings.
With recent news from other researchers that the market in small drones could reach $10 billion by 2020, the drone industry seems poised for even more rapid expansion.