Drone camera market size to reach €28.3 billion in 2028
The global drone camera market size was valued at US$4.32bn (€3.81bn) in 2020, according to Emergen Research. Increased adoption of drone cameras is noted in various end-use industries such as military, homeland security, and commercial sector, among others driving market revenue growth to a significant extent.
A drone with camera can be used as a close observatory device due to higher manoeuvrability, 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.
A drone fitted with a 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 defence 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.
The global drone camera market size is expected to reach US€32.07bn (€28.3 bn) 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.
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.
The 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.
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 defence 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.
Photo – top of page – Goh Rhy Yan / Unsplash