Drone Camera Market size was over USD 13.49 billion in 2023 and is anticipated to reach USD 392.53 billion by 2036, growing at around 29.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of drone camera is estimated at USD 16.68 billion. The growth of the market can be attributed to the growing adoption of drone-based applications across the globe, and rise in government spending capacity over public facilities and spaces. In 2019, the total shipments of internet of things (IoT) enterprise drones were more than 350,000, which rose up to about 520,000 by the end of the year 2020. The value is calculated to increase up to 1.2 million by 2023.
Along with these, increasing acceptance of infrared illumination for improved vision in a variety of consumer applications, especially in the retail sector, and availability of high-resolution satellite imagery are also expected to drive the market growth in the forthcoming years. Furthermore, expansion of the application areas of drone cameras such as LiDAR, GPS, and mapping services are projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
29.6% |
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Base Year Market Size (2023) |
USD 13.49 billion |
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Forecast Year Market Size (2036) |
USD 392.53 billion |
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Regional Scope |
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The market is segmented by application into thermal imaging, surveillance, and photography and videography, out of which, the surveillance segment is anticipated to hold the largest share in the global Drone Camera market. This can be accounted to the growing usage of flying cameras by authorities for street surveillance to broadcast messages and information about lockdown measures, especially in rural areas. Apart from this, growing privacy and security concerns are also predicted to boost the market segment growth in the future. Additionally, on the basis of end use, the military segment is assessed to acquire the largest share during the forecast period ascribing to the rising defense budget worldwide, and increase in the number of agreements between government and local authorities for the supply of drones. According to the World Bank, the world’s military expenditure as a share of GDP was calculated to be 2.439 percent in 2020, up from 2.188 percent and 2.149 percent in 2019 and 2018 respectively.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Application |
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By End Use
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On the basis of geographical analysis, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2036, due to escalating safety and security concerns across emerging nations, and largescale production and consumption of surveillance cameras in the region. In addition, availability of lower price products with advanced technologies is also projected to bolster the region’s market growth in the coming years. Moreover, the market in North America is expected to grab the most significant share during the forecast period ascribing to the high military spending, and frequent updating of old UAV fleets with new ones for effective operations and results. As per the data provided by the World Bank, in 2020, the military spending of the United States was 3.7 percent of the total GDP share, and the same value for Canada grew up to 1.4 percent of GDP.
September 2020- Amazon launched its Ring Always Home Cam, which is an autonomous style drone-style camera that can fly around the home for recording disturbances when the residents are away.
January 2019- FLIR systems acquired Aeryon Labs in a deal worth USD 200 million to expand its solutions with advanced airframes, sensors and flight management software.
Author Credits: Abhishek Verma
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