London, Dec. 12, 2023 (GLOBE NEWSWIRE) -- In a remarkable surge, the global foldable drones market is projected to attain a significant value of US$5.2 Bn by the year 2030, reflecting substantial growth from the US$2.6 Bn that was attained in 2022. This upward trajectory is anticipated to continue, with a robust value CAGR of 10.5% estimated between 2023 and 2030.
As the global foldable drones market continues on its growth trajectory, predominanty propelled by evolving consumer preferences, technological advancements, and the expanding applications of drones, the key market segments such as consumer/civil, filming and photography, and media and entertainment will play pivotal roles.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$2.6 Bn | |
| Estimated Market Size in 2030 | US$5.2 Bn | |
| CAGR | 10.5% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | DJI, RIEGL LMS, Intellisystem Technologies, Parrot, Heliceo, EMOTION, Diodon, ALPSdrone, ONYXSTAR, Autel Robotics, Skydio, PowerVision, Hubsan, Eachine, Zero Zero Robotics | |
Additionally, regional dynamics, with North America leading, and Asia Pacific emerging as a rising star, will contribute to the evolving landscape of the foldable drones market. The competitive landscape, characterized by consolidation and the presence of major players, is indicative of a market poised for continued innovation and expansion.
“The unfolding future of the foldable drones market promises exciting possibilities for industry players, and enthusiasts alike,” states a company analyst.
Key Research Insights
- The consumer/civil drone segment is poised to dominate the industry.
- The filming and photography category leads the global market as of 2023.
- Wearable devices such as smart helmets, vests, and suits equipped with sensors and communication technology contribute to market expansion by enhancing safety and effectiveness for military and law enforcement personnel.
Insights into Segmentation Analysis
Consumer/Civil Segment’s Dominance Prevails
One of the pivotal segments steering the growth of the foldable drones market is the consumer/civil drone category. Expected to dominate the global landscape, this segment resonates with the escalating demand for versatile, portable foldable drones.
These drones, characterized by adaptability, user-friendly controls, and declining prices, have become the preferred choice for a myriad of recreational activities, including social media content creation.
Filming and Photography Emerges as the Frontrunner
The filming and photography category emerged as a frontrunner in 2022, establishing its dominance in the foldable drones market. The integration of aerial footage into movies, documentaries, commercials, and social media content has reshaped the filming landscape.
The insatiable demand for visually captivating content has propelled the dominance of this segment, as foldable drones offer filmmakers and content creators an unparalleled tool for capturing breathtaking shots from unique perspectives.
The Media and Entertainment Powerhouse
Within the foldable drones market, the media and entertainment category stands out as a powerhouse, representing a leading buyer segment. Professionals in the media and entertainment industry, including filmmakers, content creators, vloggers, and social media influencers, increasingly rely on foldable drones to enhance the aesthetic appeal of their projects.
The media and entertainment drones category offers a convenient and cost-effective solution for capturing compelling aerial sequences and stunning visuals, contributing to the category's growth.
Key Report Highlights
- North America's leading position is driven by its technologically advanced landscape, and support from globally recognised drone manufacturers, and IT firms.
- Asia Pacific is all set for rapid market expansion owing to rapid economic growth, increased disposable income, and growing interest in consumer gadgets, including recreational and commercial drones.
Insights into Regional Analysis
North America Takes the Lead
North America is poised to take the lead as the largest consumer base for foldable drones. The region's technological advancements, coupled with an innovation-friendly landscape, contribute to its dominance.
Regulatory standards, particularly the Federal Aviation Administration (FAA) regulations in the US, play a pivotal role in shaping the market and fostering responsible drone use.
The presence of a significant number of well-known drone manufacturers and the involvement of large technology companies further contribute to North America's prominence in the foldable drone market.
Asia Pacific Represents the Rising Star
The Asia Pacific region is anticipated to witness significant growth, particularly in the filming and photography sectors, during the projection period. This growth is underpinned by the region's burgeoning media and entertainment industry, fueled by increasing consumer demand for high-quality visual content.
The rise of social media platforms and online streaming services has led to a growing need for visually appealing content, with content creators and influencers turning to foldable drones to capture captivating aerial shots for various applications, including vlogs, travel videos, and promotional content.
Key Industry Players
The global foldable drones market features a consolidated landscape, with fewer major players present across the globe. Key players in the industry include,
- DJI
- RIEGL LMS
- Intellisystem Technologies
- Parrot
- Heliceo
- EMOTION
- Diodon
- ALPSdrone
- ONYXSTAR
- Autel Robotics
- Skydio
- PowerVision
- Hubsan
- Eachine
- Zero Zero Robotics
Browse Global Foldable Drones Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By Drone Type Coverage, By End-use Industry Coverage, By Buyer Type Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/foldable-drones-market
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