The report forecasts the global consumer drone market to grow at a CAGR of 23.40% during the period 2016-2020.
One of latest trends in the market is adoption of drones for sports. The use of consumer drones for sports is increasing with its growing popularity. Mountain Dew, a carbonated soft drink brand produced and owned by PepsiCo, and DR1 Racing organized a drone race in August 2016. The event made use of 12 of the world's top drone-racing pilots. They controlled the drones from the top of the dam and maneuvered them around a large number of obstacles while flying them at speeds of more than 75 miles per hour. The race included various heats, qualifiers, and finals over the course of two days.
According to the report, one of the primary drivers in the market is use of consumer drones for photography. As of 2015, there had been a lot of social media attention on photographs taken with drones. This is because the use of drones for photography is still in the nascent stages, and a lot of people are interested to see the different types of photographs or videos that can be taken using drones. More than 80% of the consumer drone users upload their photos online. The demand for consumer drones will increase as people are keen to share these photos and videos through popular social networking sites such as Facebook, Twitter, and LinkedIn.
Further, the report states that one major challenge in the market is low battery backup. The high power consumption by drones is a challenge for users, as it leads to short fly time. On an average, it takes nearly 1.5 hours to charge a drone with a battery of 4,800 mAh. However, the fly time of a consumer drone is limited to 15-25 minutes. Consumers may refrain from adopting consumer drones because of their high power consumption and weak battery life. To overcome these issues, developers are looking for alternatives that will help to conserve energy and increase the flight time of consumer drones. For example, drones that are developed with hydrogen fuel cells are able to conserve energy, thereby enhancing flight time.