Today, DroneAnalyst, an independent research firm, issued its latest forecast on the drone hardware market in its Drone Hardware Sector Report, predicting the strongest growth rates in the Enterprise Imaging and Agricultural Spraying segments.
DroneAnalyst forecasts steady growth in drone hardware market
Today DroneAnalyst released its Drone Hardware Sector Report. The study assesses drone hardware across four sectors – consumer imaging, enterprise imaging, creative professionals, and agriculture spraying – and provides data on 28 different hardware vendors.
DroneAnalyst’s Head of Research, David Benowitz explains, “As new and old drone brands and investors consider opportunities in the expansive drone industry, they often don’t have the right data to make informed decisions. We are happy to finally offer industry stakeholders real data for them to make informed business decisions off of, whether that be in deciding how to prioritize production, drive new product strategy or more.”
While the size of the drone hardware market fall short of earlier projections, having yet to pass $4 Billion USD, the DroneAnalyst forecasts a steady compound growth rate of almost 13% over the next five years. The strongest growth is likely to be found in the Enterprise Imaging and Agriculture Spraying (up 135%, largely in Asia) segments.
The detailed Drone Hardware Sector Report provides insight into:
- The number of units, by model, being sold by leading Chinese brands in 2019 and 2020
- Size of each market sector (Consumer Imaging, Enterprise Imaging, Agriculture Spraying, Creative Professionals) across each region
- Forecast, split by market sector, for global drone hardware sales
- Global market share and revenue estimates of 28 hardware brands
DJI has seen a reversal in its previously declining revenue numbers for the Consumer Imaging segment. The world’s largest drone maker has seen strong growth in both the Enterprise Imaging and Agricultural Spraying segments.
David explains, “At the same time, DJI’s Enterprise Imaging and Agriculture Spraying businesses have grown rapidly. Despite DJI’s overall strength and dominance in the market, they are comparatively weaker in the high growth enterprise sectors than the consumer segment – where they control 94% of the market.”
Here you can find more information about the DroneAnalyst’s Drone Hardware Sector Report.
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