The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The consumer drones market has experienced rapid growth in recent years, evolving from $5.72 billion in 2023 to a projected $6.77 billion in 2024, reflecting an impressive compound annual growth rate (CAGR) of 18.2%. Looking ahead, the market is poised for robust expansion, reaching $9.25 billion by 2028 with a CAGR of 8.1%. This surge is attributed to factors such as growing use cases diversification, autonomous and AI features, and a range of applications from agriculture to environmental monitoring.

 

Agricultural Revolution: Driving Growth in Consumer Drones

Role of Consumer Drones in Agriculture

• Consumer drones are playing a pivotal role in revolutionizing agriculture by providing detailed information about crops and livestock.

Optimizing Operations

• Farmers can make better decisions and optimize their operations, contributing to increased efficiency and productivity.

California Agriculture Example

• In 2022, California’s farms and ranches received $55.9 billion in cash receipts, with an 8.8% increase compared to the previous year.
• Agricultural exports from California totaled $22.5 billion in 2021, showcasing the significant role of drones in agriculture.

 

Artificial Intelligence Revolutionizes Consumer Drones

Self-Navigation Capabilities

• Drone manufacturers are leveraging artificial intelligence to equip consumer drones with self-navigation capabilities.

Deep-Learning Algorithms

• Deep-learning algorithms and machine learning methods enable drones to fly beyond the controller’s range and line-of-sight.

Variables and Environmental Factors

• Drones learn to fly by themselves, considering variables such as target location, rotor speed, height, air-speed velocity, and other environmental factors.

Skydio’s Example

• Skydio’s R1 drone utilizes machine learning to maneuver itself in mid-air and autonomously follow a person wherever they go.

 

Strategic Acquisition: Ondas Holdings Inc. and Airobotics

Acquisition Details

• In January 2023, Ondas Holdings Inc., a US-based technology company, completed the acquisition of Airobotics for $15.2 million.

Expanding Customer Verticals

• The acquisition positions Ondas to tackle a broader set of customer verticals, enhancing its drone portfolio with Airobotics’ technology and expertise.

Strengthening Customer Solutions

• Ondas aims to strengthen its customer solutions by leveraging Airobotics’ unique drone platform.

 

View More On The Consumer Drones Market Report 2024 – https://www.thebusinessresearchcompany.com/report/consumer-drones-global-market-report

 

Segmentation of the Consumer Drones Market

Types of Consumer Drones

• The market is segmented based on drone types, including Fixed Wing Drones, Rotary Blade Drones, and Hybrid Drones.

Drone Technologies

• Drones are categorized by technology, including Remotely Operated Drones, Semi-Autonomous Drones, and Autonomous Drones.

Applications of Consumer Drones

• Consumer drones find applications in various areas, such as Hobbyist & Gaming, Aerial Photography, and other specialized uses.

 

North America Leading the Charge

Regional Dominance

• In 2023, North America emerged as the largest region in the consumer drones market, showcasing a strong presence in the industry.

Fastest Growing Region

• North America is anticipated to be the fastest-growing region in the global consumer drones market during the forecast period.

 

Anticipated Trends: The Future of Consumer Drones

Improved Battery Technology

• Continued advancements in battery technology are expected to enhance drone performance and flight duration.

Noise Reduction Initiatives

• Noise reduction efforts are underway, aiming to make consumer drones more environmentally friendly and less intrusive.

Advanced Camera Technology

• Innovations in camera technology will enhance the capabilities of consumer drones, improving image and video capture.

Technological Advancements

• Ongoing technological advancements will introduce new features and functionalities, further expanding the potential use cases of consumer drones.

 

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The Consumer Drones Global Market Report 2024  provides comprehensive insights on the consumer drones market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the consumer drones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –
Commercial Drones Global Market Report 2024
Military Gliders And Drones Global Market Report 2024
Drone Software Global Market Report 2024

 

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