Bizizz Market Research has recently published a research report, “Toy Drones Market by Type (Quadcopters, Others), Application (Recreational Photography & Videography, Drone Racing & Sports, Others), Sales Channel (Distribution Channel, Direct Channel), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Toy Drones Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ XX Bn by 2027, witnessing a CAGR of 16.5 % during the forecast period.
The toy drones market is majorly driven by the surge in penetration of virtual reality and the growing use of advanced drone cameras. The growing adoption of 3D printing on drones is another major factor that is expected to enhance market growth over the forecast period. The availability of low-cost drones and growing investments in the defense industry across the globe are some other major factors anticipated to enhance market growth during the forecast period. High demand of VR goggles and headset drones is one of the prominent factors responsible for market growth in years to come. The use of toy drones for wildlife monitoring, fishing, recreational videography, and photography are some other factors for the growing market demand. The benefits of toy drones such as crime-fighting, rescue operations, military use, improved journalism, delivery, and others are expected to support market growth during the forecast period.
The Toy Drones market is anticipated to register a CAGR of over 16.5 % during the forecast period.
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By Application, Recreational Photography And Videography Segment Held a Prominent Share in Global Toy Drones Market in 2018.
The recreational photography and videography segment had the highest share in the global toy drones market in 2018 due to high-definition cameras offered and enable users to get enhanced videos and pictures. The aforementioned segment is projected to continue its dominant position in the global market due to a surge in defense budget across the globe coupled with the use of these drones for surveillance. The increased use of toy drones for journalism, delivery & shipping, disaster management, and healthcare & rescue operations is further expected to support the segment growth in years to come.
By Sales Channel, Distribution Channel Segment Is Anticipated To Dominate the Global Toy Drones Market during the Forecast Period
The distribution channel segment was dominant in the global toy drones market due to the easy availability of products in various distribution channels such as supermarkets, e-commerce, specialty stores, and others. The aforementioned segment comprises of country-level as well as regional drone distributors. The increased retail industry worldwide is a major factor for the growth of the distribution channel segment in years to come.
Toy Drones Market in Asia Pacific Region is Expected to Grow at Highest CAGR during the Forecast Period
Asia Pacific is presumed to expand at a rapid pace throughout the forecast period owing to growing disposable income and surge in government investments for military & defense expenditures. The need for toy drones for surveillance purposes is another major factor expected to enhance regional growth over the forecast period.
Global Toy Drones market was highly fragmented among the number of local and global players.Prominent players operating in the Global Toy Drones Market are: XK Industrial Co. Ltd., Udirc Technology Co., Ltd., Extreme Fliers, DJI, Shenzhen Hubsan Technology Company Limited, Syma, Weili Toys, Jianjian Technology Co., Ltd., Drona Aviation Pvt. Ltd., Aerix Drones, Guangdong Cheerson Hobby Technology Co., Ltd., TRNDlabs, Skyrocket LLC, AeroVironment, Inc., Parrot Drones SAS, and Horizon Hobby LLC
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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