VANCOUVER, B.C., Nov. 30, 2021 /PRNewswire/ — The global drone camera market size was USD 4.32 Billion in 2020. Increased adoption of drone cameras in various end-use industries such as military, homeland security, and commercial sector, among others is driving market revenue growth to a significant extent.
Drivers: Increase in Demand for Drone Cameras for Surveillance
Drone with camera can be used as a close observatory device due to higher maneuverability, which allows free movement in desired locations. Drones mounted with cameras, sensors, and GPS tracking help to keep an eye on streets, buildings, and various activities of different groups of people. Surveillance drones can also perform quick perimeter patrols and are generally five times faster than traditional drones. Instead of using helicopters for aerial surveillance, which is comparatively costlier, drone cameras offer a significant cost reduction. They also provide live streaming, which makes them excellent devices for the media and entertainment industry, especially for live broadcasting.
Drone fitted with camera can transform the way data is collected. Such devices are fast and can visit places or locations where humans cannot. They produce minimal sound, are fitted with thermal sensors, and some are night-vision capable, which makes them very useful for applications in the defense sector. Owing to others and these factors, an increasing number of end users are opting to use drone cameras instead of manual workers for surveys and monitoring, which is boosting revenue growth of the global drone camera market.
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Restraints: Rules and Regulations Imposed by Government of Different Countries
Drone cameras can cause concerns related to public privacy and can create national security risks or concerns. For this reason, governments of different countries have laid down various drone regulations and laws to protect privacy of citizens and national security of respective countries. For example, in the U.K., the Civil Aviation Authority (CAA) stated that private and commercial UAVs can fly only up to 400 feet or 500 meters above sea level, the weight of drone should be less than 20kg, and drones must be kept away from aerial devices such as helicopters, aircraft, and areas around airports cannot be used. Moreover, users are not allowed to violate any private or security laws and must fly within the stated limits. Such regulations are hampering drone camera market revenue growth owing to reluctance among many individuals or companies to make investments and then be restricted from realizing the overall potential of their preferred drones and cameras or even having to keep these products out of the skies at all times or having to fly only in designated or specific areas.
The global drone camera market size is expected to reach USD 32.07 Billion at a revenue CAGR of 28.4% in 2028, according to the latest report by Emergen. Increasing application of drone camera for surveillance and thermal imaging is driving market revenue growth.
COVID-19 Direct Impact
COVID-19 has had no major negative impact on the drone camera market growth. During COVID-19 pandemic, national and international transportation were closed for months. In these hard times, drones fitted with cameras were used to monitor active cases of COVID-19 patients in different contaminated zones. Governments of different countries opted for drone cameras to keep surveillance and prevent people from gathering. They were also used by the local authorities for street surveillance and policing and for broadcasting information about lockdowns and COVID-19 prevention measures or related information.
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Current Trends and Innovations
New innovations in drone cameras are boosting growth of the drone camera market. New innovative drones have patented inflatable structures and a variety of sensors used for various missions such as search and rescue missions. Newer technology drones are equipped with 3-gimbal axis, which helps them to compensate for vibration and turbulence that occur, especially when trying to hover over different surface levels.
Asia Pacific market is a major contributor to the global drone camera market in terms of revenue. The largest producers include China and Japan, while the largest consumer or buyer markets or regions are North America and Europe.
In September 2021, the Indian government announced a new scheme for drone industry in which USD 15.9 Million Product-Linked Incentive (PLI) was announced under which the policy claimed to bring investments of over USD 665.7 Million in three years. Fee for the remote pilot license for drones has also been decreased to nominal levels and delinked from the size of the drone.
Some Key Highlights From the Report
- HD drone camera segment revenue is expected to register a significantly rapid growth rate owing to increasing preference for HD over SD cameras as these have better resolution. These cameras also have higher megapixels and resolution can range between 240p and 4k. These devices can capture clearer and more detailed aerial shots, and are steadily becoming the most preferred option to record video in the wilderness.
- Drone camera thermal imaging segment revenue is expected to grow at the highest rate during the forecast period due to increasing demand for land assessment in agricultural fields. Firefighters use thermal imaging to see through smoke, and it is also used for power lines for inspections. Increasing investment by manufacturers towards the development of more advanced thermal imaging and sensor technologies is a key factor driving revenue growth of this segment.
- Among the end-use segments, the defense sector is the largest consumer of drone cameras due to ability of nighttime surveillance and live broadcasting features of these devices. These are also used during emergency response, help in collecting geographical data, and assist in search and rescue missions.
- Major companies included in the global market report are DJI Innovations, Canon Inc., Aeryon Labs Inc., Precision Technologies Ltd., Garmin Ltd., GoPro, Inc., Aerialtronics DV B.V, Aerobros, AiDrones, and DST Control.
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Emergen Research has segmented the global drone camera market on the basis of type, application, resolution, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Application (Revenue, USD Billion; 2018-2028)
- Photography and Videography
- Thermal Imaging
- Resolution Outlook (Revenue, USD Billion; 2018–2028)
- 12MP – 20MP
- 20MP – 32MP
- 32MP and Above
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Homeland Security
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
f. Rest of Europe
- Asia Pacific
d. South Korea
e. Rest of APAC
- Latin America
b. Rest of LATAM
- Middle East & Africa
a. Saudi Arabia
d. Rest of MEA
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