The worldwide market for camera drones is anticipated to reach $21.5 billion by 2022, up from its current estimated valuation of $2 billion a year, according to a recent report by independent research group WinterGreen Research.
Analysts at the Massachusetts-based firm said the use of drones represents a “key milestone in provision of value to every industry” and further technological innovation will assure continued growth of the worldwide camera drone industry.
Citing drone manufacturer DJI’s 2015 revenue of $1 billion as an example indicator, analysts said drone systems are at the forefront of aerospace manufacturing and use cases are evolving rapidly.
“In every industry and around the entire world vendors are adapting to drone availability,” analysts said, adding that “camera drone technology has reached a level of maturity that has put these systems at the forefront of picture taking modernization.”
The report provides an analysis of drones in different categories, illustrating the diversity of uses for remote flying devices that have high quality cameras on board.
“Cameras used from the air are used to anticipate infrastructure problems that only become visible to humans on land days, weeks, or months after the drone images detect issues,” analysts opined, adding that photography drones are set to make every industry more productive with better, more flexible visualization.
A summary of the WinterGreen Research report is available here.
Alan is serial entrepreneur, active angel investor, and a drone enthusiast. He co-founded DRONELIFE.com to address the emerging commercial market for drones and drone technology. Prior to DRONELIFE.com, Alan co-founded Where.com, ThinkingScreen Media, and Nurse.com. Recently, Alan has co-founded Crowditz.com, a leader in Equity Crowdfunding Data, Analytics, and Insights. Alan can be reached at alan(at)dronelife.com