Sales of consumer drones are expected to reach up to 16 million a year by 2020, up from the almost four million sold in 2015.
A new study from Juniper Research has predicted that the number of consumer drones shipped globally will increase to more than 20 million a year over the course of the next five years.
Meanwhile, it is expected that new leaps forward with augmented reality will boost innovation in the drone sector, which when coupled with drop in retail price, will offer an attractive prospect to consumers.
‘With the advent of AR likely to become prevalent on UAVs (unmanned aerial vehicles) in the near future, this will open up further opportunities for innovation in applications for both the consumer and commercial sectors alike,’ read a statement from the research group.
While companies such as DJI currently dominate the mid-priced and prosumer UAV market, an increasing number of players are now targeting the low-tiered sectors, with new entrants emerging out of the toy radio-controlled model aircraft industry.
Earlier this year, Wow Stuff’s Richard North pre-empted the research findings when he highlighted that the popularity of consumer drones was “born out of evolution, not revolution.”