Drone Camera Market Projected to Touch USD 66.6 Billion by 2030, at a CAGR of 29.8% - Report by Market Research Future (MRFR)
New York, USA, Jan.11, 2022(GLOBE NEWSWIRE) -- Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Drone Camera Market information by Type, by Resolution, by Application and Region – forecast to 2030” market size to reach USD 66.6 billion, growing at a compound annual growth rate of 29.8% by 2030.
Market Scope: The increasing application areas of drone cameras like mapping services, LiDAR, and GPS will offer robust opportunities for the drone camera market in the forecast period.
Besides, the considerable increase in the need for videography and aerial photography among the masses will also boost market growth as these cameras offer high-quality images from a wide angle. Also, the rise in need of drones for imaging applications, increasing need for the increase of low cost DIY drones, high demand of camera drones for surveillance applications, increasing application in the defense sector, and increasing applications of drone technology in various industrial verticals like construction, mining, and agriculture are also fuelling market growth.
Dominant Key Players on Drone Camera Market Covered are:
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Market USP Exclusively Encompassed:Drone Camera Market DriversThe increasing need for land assessment in agricultural fields will boost market growth over the forecast period. Firefighters use thermal imaging for seeing through smoke and also used for power lines for inspections. The rising investments by manufacturers to develop more advanced thermal imaging and also sensor technologies are also fuelling market growth.
Privacy & Security Concerns to Remain as Market Restraint The privacy & security concerns may remain as a market restraint over the forecast period. The usage of drones to collect data and images sans drawing the attention can result in increasing privacy issues amid the public. To prevent issues associated with the national security and protecting the public space, the governments of various countries are formulating laws for the usage of drone cameras thus limiting the market growth.
Availability of High Resolution Satellite Imagery to act as Market Challenge The availability of high resolution satellite imagery may act as a market challenge over the forecast period. Besides, government regulations, absence of protocols and standards, and lack of trained and skilled personnel for operating drones and issues associated with the security and safety of drones are may also hamper market growth.
Browse In-depth Market Research Report (141 Pages) on Drone Camera Market: https://www.marketresearchfuture.com/reports/drone-camera-market-10764
Segmentation of Market Covered in the Research:The global drone camera market has been bifurcated based on end user, resolution, application, and type.
By type, the global drone camera market is segmented into HD camera and SD camera.
By application, the photography and videography segment will lead the market over the forecast period.
By resolution, the global drone camera market is segmented into 12 MP, 12 - 20 MP, 20 -32 MP, and 32 MP & above.
By end user, the commercial segment will dominate the market over the forecast period.
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Regional AnalysisNorth America to Spearhead Drone Camera Market North America will spearhead the drone camera market over the forecast period. Rising adoption of drone cameras in the military and commercial sector in Mexico, Canada, and the US, advances in drone technologies, growing adoption in the US for the presence of several non-commercial and commercial drone camera manufacturers, growing need from businesses for drone-acquired data and ongoing projects, and favorable strong government initiatives about the advances in drone technology are adding to the global drone camera market growth in the region.
APAC to Have Admirable Growth in Drone Camera Market The APAC region will have admirable growth in the drone camera market over the forecast period. Growing government initiatives to regulate the commercial use and also improve the safety with the drone cameras that are adding to the global drone camera market growth in the region. China and Japan are the largest producers.
COVID-19 Impact on the Global Drone Camera MarketThe COVID-19 outbreak possessed a negative effect on the worldwide economy as this has impacted different sectors like the IT and telecom, and BFSI significantly. The outbreak has led to the implementation of lockdown restrictions as well as travel limitations in different countries across the world resulting in the supply chain of materials and goods and also the market demand. Besides, the shutting down of manufacturing sites, limitations on trades, fall in the production rate, unavailability of workers and cash flow constraints have resulted to the fall in the cash flow margins of the stakeholders in the worldwide market. This deadly virus mostly impacted small and medium sized enterprises yet large organizations too had huge impacts. However the pandemic possessed a positive effect on the drone camera market. There has been reported attempts by various healthcare users to deliver and transport the medical supplies, and also lab sample pick-ups that has helped them in reducing the exposure to infection also for the aerial spraying of the public areas for disinfecting the potentially contaminated places as well as for public space monitoring and guidance during the lockdown period. With the rise in active cases across various locations, containment zones had been made where infected people had been isolated. The drones equipped with cameras were utilized for keeping an eye on patients and contained locations. Local authorities and governments opted to use drones for surveillance for preventing people from gathering. Besides, governments entered into various agreements with various companies for the supply of drones that have the ability of surveillance on a wider location. For tackling the COVID situation, drones had been used via law-enforcing authorities like the municipal authorities or local police for monitoring the movement of people and breaking up social gatherings which could pose a risk to society. Along with street surveillance, authorities have used drones for broadcasting messages and information about lockdown measures particularly in rural areas which lack open communication channels for health information.
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