Portland, OR, May 06, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the drone camera market garnered $3.33 billion in 2019, and is expected to reach $25.39 billion by 2027, witnessing a CAGR of 29.9% from 2020 to 2027. The report offers a detailed analysis of changing market dynamics, competitive scenario, top segments, key investment pockets, value chain, and regional landscape.
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Promising growth rate of the drone market and introduction of technologically advanced products drive the growth of the global drone camera market. However, privacy & security concerns and high-resolution satellite imagery hinder the market growth. On the other hand, surge in demand for drones across emerging nations and rise in application areas for GPS, LiDAR, mapping services, and others create new opportunities in the coming years.
Covid-19 Scenario:
- Governments & local authorities determined the use of drones for surveillance during lockdown to prevent people from gathering.
- The outbreak of the pandemic also led the governments to opt forumerous agreements with different companies for the supply of drones, for surveillance purposes.
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The global drone camera market is segmented on the basis of type, application, resolution, end user, and region. Based on end-user, the military segment contributed to the highest market share in 2019, accounting for nearly two-fifths of the total market share, and is projected to maintain its lead position during the forecast period. In addition, the segment is also expected to grow at the highest CAGR of 31.4% from 2020 to 2027.
Based on application, the photography and videography segment accounted for the highest share in 2019, holding nearly two-fifths of the drone camera market, and is expected to continue its leadership status throughout the forecast period. However, the surveillance segment is projected to witness the highest CAGR of 31.6% from 2020 to 2027. The research also analyzes thermal imaging segment.
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Based on region, the market across North America region accounted for the highest market share in terms of revenue, contributing to more than one-third of the total share in 2019, and is expected to maintain its dominance in terms of revenue by 2027. However, the Asia-Pacific region is projected to witness the fastest CAGR of 31.3% during the forecast period. The report also studies regions include LAMEA and Europe.
Leading players of the drone camera market analyzed in the research include FLIR Systems, Inc., Garmin Ltd., GoPro, Inc., Panasonic Corporation, Aerialtronics DV B.V, Canon Inc., Controp Precision Technologies Ltd., DJI, DST Control, and Sony Corporation.
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