According to a market research report recently published by Innova Research, the dominance of the top three drone suppliers, namely, DJI, Parrot, and 3D Robots, will face strong challenge from hundreds of new entrants, including big names such as Google, Amazon, and Alibaba, as well as a large number of smaller drone technology developers.
While the residential air purifier shipment skyrocketed to 1.5 million driven by the outbreak of the nationwide haze in the past few years, the Chinese market revenue is forecast to decline by 11.1% in 2015. However, the growth is forecast to resume in 2016 fueled by the increasing acceptance of air purifier as an essential household appliance largely by mid-class Chinese consumers.
The global commercial UAV market revenues will grow at a 32.5% CAGR from 2014 to 2020, mainly attributing to the rapid adoption of the UAVs in various commercial applications. Among these application sectors, agriculture & forestry, mapping & GIS, power grid inspection, and oil & gas inspection are the fastest growing UAV applications in the next five years.
The M&A transaction value on the thin-film solar technology increased to $1.08 billion in 2014, growing at 16.3% from 2011 to 2014, while it increased to $247 million in 2014 for concentrated PV technology, growing at 27.1%.
The world drone market was estimated to be worth $1.1 billion in 2014, and the market revenue is forecast to grow to $6.0 billion in 2020, at a CARG 32.5% in the period. The future growth opportunities in the drone market are with the rapid adoption of drones in commercial segments, such as agriculture & forester, mapping/GIS, and power grid inspection.