Drones were first developed only for military usage, however, over the last decade, these are increasingly being adopted in commercial and homeland securities. Major applications of drones include high definition images and video for surveying and mapping, military intelligence gathering, police investigation, and crowd control. According to the market intelligence report by BIS Research titled, ‘Global Drone Camera Market- Analysis and Forecast (2017-2021),’ the market had generated a revenue of $5.44 billion in the year 2016. This market is expected to attain a niche level owing to the increase in the demands for drones for imaging applications, rise in usage of low cost ‘Do It Yourself’ (DIY) drones, and high demands for drones for surveillance applications, among others.
A drone camera is specifically designed to capture photos or videos in an operation. These cameras are used extensively in commercial, military, and homeland security applications. In addition to such applications, drones equipped with camera can also be used in oil and gas companies to monitor gas pipelines. These drones are equipped with high definition camera, owing to which it can be used closely at the site location and can detect any damage that needs to be repaired. Further, advanced drone cameras can capture and stream multi-megapixel, large format images, and metadata.
Drones are widely used in the commercial industry as it reduces the cost of operation in comparison to manned operations. Some of their applications include aerial photography, film-making, surveying, mapping, surveillance, and thermal imaging. Further, the advantages of drones and their declining prices have increased their adoption in the commercial and non-commercial industry. As per the Federal Aviation Administration’s registrations database, the sales of hobbyists and commercial drones in the U.S. were reported to be 2.5 million units in the year 2016 and it is expected to reach 7 million units by the year 2020.
Globally, the drone camera market is segmented into standard-definition (SD) and high-definition (HD) cameras. SD cameras are used for low light applications whereas HD Cameras are preferred for high-resolution images and video in bright daylight conditions. SD camera dominated the market in 2016 and is expected to continue its dominance, registering a CAGR of 34.1% during the forecast period. This significant growth is attributed to the output of SD cameras with better imagining in less visible light. However, the HD cameras are expected to register the highest growth rate of 37.4% during the period 2017-2021, in terms of units. This growth is attributed to the declining prices of HD cameras and a rise in their demand in media and entertainment industry.
BIS Research has conducted an extensive research on the global drone camera market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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