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"Overview of Toy Drones Market"
In 2019, the global toy drones market was valued at US$ XX Bn and expanding at a CAGR of 16.5% over the forecast period (2020-2028).
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.
In addition to this, the growing use of drones for marine activities along with the surge in demand for first-person view compatible drones are other key factors projected to enhance the global toy drones market in years to come. However, the surge in government regulations for drone using is one of the major restraints anticipated to hinder the market growth during the forecast period.
By Application, Recreational Photography and Videography segment expected to continue its dominance in the Global Toy Drones Market
Recreational Photography and Videography accounted for the largest share of XX% in the Global Toy Drones Market in 2019.The recreational photography and videography segment had the highest share in the global toy drones market in 2019 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 Anticipated Continuing Its Dominance In The Global Toy Drones Market
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. The surge in the e-commerce industry across the globe is one of the promising factor expected to enhance the segment growth during the forecast period. Services such as product support, repair, aftersales services, and others are further expected to support the segment growth in years to come. Hence, the distribution channel segment is projected to continue its dominant position in the global toy drones market.
Asia Pacific Toy Drone Market is anticipated to expand at Rapid Pace 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. The availability of low-cost drones and growing manufacturing of lightweight drones in developing nations such as India and China are propelling the regional growth.
North America had the highest share in the global market in 2019 owing to the presence of major market players (such as AeroVironment, Inc., AerixDrones, Skyrocket LLC and others) and early technological adoption in the region.
Global Toy Drones Market is consolidated with a presence of large number of global and local manufacturers. 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 are key players operating in the Global Toy Drones Market.
Toy Drones Market Segmentation
Toy Drones Market by Type:
Toy Drones Market by Application
- Recreational Photography & Videography
- Drone Racing & Sports
Toy Drones Market by Sales Channel
- Distribution Channel
- Direct Channel
Toy Drones Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East and Africa