Growth drivers will be reduced component cost, drop in retail price, increased competition and a number of use cases. Most consumer drones now offered the capability for live streaming of photos and video.
The advent of AR (Augmented Reality), which is likely to become prevalent on UAVs (Unmanned Aerial Vehicles), will create new opportunities for innovation in applications for both the consumer and commercial drones.
Companies like DJI currently dominate the mid-priced and UAV market, while a number of players is targeting the low-tiered sector.
China-based companies Syma Toys and Hubsan and GoPro are the new players.
Drones can be victims of hacking due to the use of unlicensed spectrum and reliance on GPS. Hackers are capable of taking control of the UAV by intercepting unencrypted data feeds or commandeering the Wi-Fi connection.
There are privacy concerns because UAVs could be used for activities including snooping, spying and stalking and criminal surveillance of property.