Selfie Drones Market Trends

Growth Drivers

• Growing Trend For Aerial Photography in Travel and Tourism Industry
  According to the Federal Aviation Administration (FAA) operating under the United states Department of Transportation, stated that till the year 2019 around 1,533,596 number of drones were registered in the United States alone, out of which, 428,245 numbers (28% of the total) were commercial drones and 1,101,564 numbers (72% of the total) were recreational drones.
  
  Although, registration of drones is based on the unmanned weight of the UAV, yet recreational drones have gained massive popularity in the recent years on the back of rising need for recreational activities amongst individuals around the globe. There is a rising trend amongst individuals for social blogging especially while they are travelling or prefer travelling as a hobby. Increasing trend for videoblogging, also termed as “vlogging” amongst such individuals, and the need to produce creative content for the attraction of a greater number of viewers, is raising the demand for devices, such as selfie drone, which helps them to click pictures of themselves in a much more creative way. Several features available in selfie drone, such as follow me function, which allows the selfie drone to follow the individual just at the click of a button, along with other features such as, light weight, high resolution camera, multi-axis gimbals, and others, help to capture creative aerial images. Moreover, such activities are also contributing towards the growth of the travel and tourism industry and are increasingly favored by many tourist agencies.
• Increasing Household Disposable Income
  According to Organisation for Economic Co-operation and Development (OECD), household disposable income of USA, Japan and France increased from 40.62, 26.36, and 29.15 USD thousand/Capita in the year 2010 to 50.29, 29.76, and 34.49 USD thousand/Capita in the year 2017 respectively.
  
  Consumer purchasing power is an important factor while considering the growth of any product in a market. An increase in household disposable income provides the consumer the power to purchase goods, especially for recreational purpose or goods meant for an individual’s hobby. Selfie drone can be categorized as a recreational good, and an increase in purchasing power of an individual will help to contribute to a better trade flow of the product. Such a factor is thereby anticipated to drive the growth of the global selfie drone market.

Challenges

• High End Product CostThe price of selfie drone is placed comparatively high owing to the cost of advanced technologies involved in such gadgets. But a major concerning factor that lies behind the high price of the product is the negative impact on sales. Also, selfie drone are aimed for recreational purpose only, limiting its use as commercial UAV drones. Owing to such a factor, the selfie drone might not be widely accepted amongst a mass population and might impact negatively towards the growth of the global selfie drone market in the upcoming years.