Drone Light Shows Market is estimated to reach $2,389.6 million by 2031, registering a CAGR of 5.6% from 2022 to 2031
Europe held the highest market share in terms of revenue in 2021, accounting for nearly 35% of the global drone light shows market
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, April 19, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Drone Light Shows Market,” The drone light shows market was valued at $1.3 billion in 2021, and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. The drone light shows market size was valued at $1,325.7 million in 2021, and is estimated to reach $2,389.6 million by 2031, registering a CAGR of 5.6% from 2022 to 2031. In 2021, the drone formation drone light show segment accounted for the majority of the total drone light shows market.
Groups of drones are lit, coordinated, and choreographed to form various aerial formations to create drone light shows. Almost any image in the sky can be replicated by computer software, which converts images into flight commands and sends them to drones while keeping the image and drones coordinated and synchronized. In recent years, drone shows have progressed from the academic lab to large-scale deployments at major events, hence likely to propel the drone light shows market demand across the globe.
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Industry Growth , Outlook, Trends, Size and Forecast, 2022 to 2031
Drone light shows are the most commonly used in events as a substitute for fireworks as a way to close out the event or as a form of mid-event entertainment. Drones can be used to provide synchronized lighting with music at music festivals, which adds entertainment value to the songs being performed as well as a sense of completion to the show. Furthermore, as consumer income grows rapidly around the world, global living standards are rising significantly. As a result, consumer participation in various types of entertainment events, such as music festivals, is increasing. In order to attract more attendees, event organizers are using attractions such as drone light shows, hence likely to increase the drone light shows market growth. Social media is quickly becoming an important tool in the growth of the drone light show market. Many drone light show organizers promote their events primarily through social media campaigns and social media posts in order to broaden their reach and increase attendance at their events. Many social media users around the world are also posting pictures and videos of drone light show on their social media pages using tools like hashtags, which is helping to expand the market’s reach to newer consumers who are developing an interest in such shows.
Drones are expensive technology because they require a delicate balance of hardware, software, and technology. The programs used to perform drone light shows are also costly due to their ability to synchronize an array of several drones as well as transmit images to the drone array while maintaining a balance between the positioning of the drones and the image using technologies such as geo-positioning, proximity tracking, and drone light control to create an image or 3D array with the drones. As a result, organizing a drone light show is quite costly. According to drone light shows market analysis, drones are subject to a variety of regulatory guidelines in almost every country. Many countries around the world have a complete ban on commercial drone flight, while others have the ban imposed on high-profile areas. In such countries, obtaining a permit to fly a drone can be a long and arduous process that often includes monetary charges to ensure proper adherence to rules. These rules and regulations frequently discourage the use of drones, resulting in losses for the drone light shows industry.
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Regional Analysis 2022 to 2031 :-
Drones are becoming more widely available in developing countries around the world. Many new emerging drone manufacturers are emerging in developing countries around the world, particularly in the Asia-Pacific region, with countries such as China and India making drones easily accessible to consumers in the region. Furthermore, due to the adoption of newer technologies in regional events as well as increased consumer spending on such events, the region’s adoption of these drones as well as drone light shows is increasing and it is one of the growing drone light shows market trends across the globe..
Europe had the largest drone light shows market share due to the limited restrictions regarding flying drones in Europe as well as the conduction of various types of music festivals, corporate events, and tourist events in the region. Asia-Pacific is expected to have the highest growth owing to the increase in the adoption of drones as well as the increase in the number of events held in the region.
The players operating in the drone light show market have adopted various developmental strategies to increase their drone light show market share, gain profitability, and remain competitive in the market :-
*Skymagic Live Pte. Ltd
*Hire UAV Pro LLC,
*JH Technology Arts GmbH
*Arts Outdoor Lighting Multimedia Events & Drones LLC
*SKD International Drone Events
*Great Lakes Drone Company, LLC
*Intel Corporation, Verge, Inc
*Swarmtech Drones Ltd
*Drone Arrival, Inc
*BotLab Dynamics Pvt. Ltd
*Sky Elements, LLC
*CollMot Robotics Ltd
*Shenzhen HighGreat Innovation Technology Development Co., Ltd
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Key findings of the study
*By type, the drone formation segment dominated the market in 2021 and the animated drone light shows segment is expected to have the highest growth during the forecast period.
*By application, music concerts are the dominant market segment in 2021 and are expected to retain their dominance in the market during the forecast period.
*By region, Europe had the highest market share in 2021 while Asia-Pacific is expected to have the highest growth during the forecast period.
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