The value of the drone camera market has been predicted to see a four-fold increase as a result of increasing industry deman, a new industry report has claimed.
According to a new market intelligence report by BIS Research, the global drone camera market was $5.45 (£3.85) billion in 2016 and is expected to reach $19.25 (£13.6) billion by 2021.
Different types of cameras, such as Standard Definition (SD) camera and High Definition (HD) camera are used in a drone to take aerial photos and videos for various applications across commercial, military and homeland security end-users.
According to the report, the global drone camera market is driven by a number of factors such as the increase in demand for drones for imaging and surveillance applications and rise in usage of low-cost DIY drones, among others. Furthermore, the rise in demand for drones across emerging nations and miniaturization of cameras are expected to create viable opportunities in the drone camera market.
The key manufacturers of cameras used in drones are indulging in partnerships and launching innovative, cost-effective and feature-rich cameras for drones. Aeryon Labs, Inc., Canon Inc., FLIR Systems, Inc., DJI Innovations, GoPro, Inc. and CONTROP Precision Technologies Ltd. among others, are some of the leading manufacturers that develop drone cameras.