As aerial photography and racing grow in popularity among the wider public, those in the consumer drone industry, from manufacturers to software developers, are set to reap the rewards in the coming years. A report from market intelligence firm Tractica suggests that sales could increase to up to ten times their current level.
According to an industry report from Tractica, consumer drone sales are set to surge in next five years, with global annual unit sales increasing more than tenfold from 6.4 million in 2015 to 67.9 million by 2021. While average selling prices for drones will continue to decline sharply during that period, the market intelligence firm anticipates that total revenue will increase from $1.9 billion in 2015 to $5.0 billion in 2021.
The report also stated that it expects the average price of drones to continue to decline sharply during that period. This will be both because of an increasing number of competitors in the marketplace, such as newcomers GoPro, and the lessening cost of the manufacturing process.
“The consumer drone market continues to grow at a rapid pace,” said research analyst Manoj Sahi. “A number of prominent companies are investing in consumer-grade drone technology, and the hardware and software capabilities of drone products are becoming more robust over time, enabling new applications for consumers.”
Sahi adds that, while aerial imaging is the primary application currently being utilized by consumers, the use of drones for aerial games and recreation activities will grow over the next few years as UAV technology continues to develop. Over time, the report says, drones will also be integrated into virtual and augmented reality experiences.
Tractica’s report, “Consumer Drones,” examines the global market trends for consumer drones and provides 7-year market sizing and forecasts for consumer drone shipments and revenue during the period from 2015 through 2021. To read the entire report you can visit the company’s website.