With the ever evolving technological advances, the consumer drone market is growing rapidly. So, it is important that you make sure your company is developing products that match the applications and marketing those products to the correct customer segments. There are three different customer segments in the drone market: military, commercial, and consumer drones. All three of these markets are extremely different. Knowing your target segment is imperative in order to be able to succeed in a booming industry.
Drones can be used by everyone and for almost everything; agriculture crop monitoring to surveillance to sporting events. As a result, the photographic equipment market is declining; 11% over just four years, because it does not offer the same multi-use functionality that drones have. This decline in photographic equipment offers a unique partnership for your company with this suffering industry because they are so closely related.
While there are many alternative ways to take photographs and videos, none pose a serious threat to drone manufacturers because their offerings are not even comparable to the complex and technologically advanced equipment that drones provide. In addition, there is no market leader yet recognized by the general public. So, consumers have low brand attachment which allows for market penetration. However, there is a lot of competition. This means that your company will have to have a competitive advantage in order to stand out and gain brand awareness.