Eco-friendly alternatives for fireworks, penetration of social media across the globe, and simple detailed design for the light show drive the growth of the global drone light shows market.
PORTLAND, Ore., Jan. 27, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Drone Light Shows Market by Type (Drone Formations, Animated Shows, Indoor Shows, Drone Launched Fireworks), by Application (Tourist Attractions, Public Events, Trade Shows, Corporate Events, Sporting Events, Music Concerts, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031“. According to the report, the global drone light show industry was valued at $1.3 billion in 2021 and is projected to reach $2.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
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Prime determinants of growth
Eco-friendly alternatives to fireworks, global social media penetration, and simple detailed design for the light show drive the global drone light shows market. However, the cost-effectiveness of drone use and the transition process between displays limit the market growth. Furthermore, technological advancements will open up new avenues for market growth in the coming years.
- The outbreak of the Covid-19 pandemic had a negative impact on the global drone light shows market, owing to the shutting down of various types of events due to the lockdown.
- The pandemic disrupted the organization of music and corporate events, leading to a severe lack in the organization of drone light shows, which had severe negative impacts on the market.
Drone formations will maintain their leadership position throughout the forecast period.
Based on type, the drone formation segment held the highest market share in 2021, accounting for nearly 40% of the global drone light shows market. The animated shows segment is estimated to have the highest growth, with a CAGR of 6.3% during the forecast period. Drone formations are the most popular types of drone light shows, and animated drone light shows are expected to grow the most during the forecast period. Animated drone light shows are rapidly emerging as the most recent form of drone light shows due to their ability to create scenes and moving images that provide greater immersion and wonder to the shows and can also be combined with music. Indoor drone light shows require a small number of drones and are usually performed on a much smaller scale. Drone-launched fireworks are also becoming popular as the design of shows with precise firework control improves.
The music concert segment to maintain its leadership status throughout the forecast period
Based on application, the music concert segment held the highest market share in 2021, accounting for nearly one-fourth of the global drone light shows market. It is estimated to maintain its leadership status throughout the forecast period. Music concerts are the most popular venues for using drone light shows, and they are expected to grow the most during the forecast period. Drone light shows are primarily used to enhance the artists’ performance and amplify the music’s feel at music concerts, events, and festivals. Drone light shows are also widely used as tourist attractions in various countries to display a specific region’s history and how the place has changed over time. Drone light shows are also used in public events, trade shows, corporate events, sporting events, and other similar occasions to help enhance and provide these events.
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Europe to maintain its dominance by 2031
Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for nearly 35% of the global drone light shows market, and is likely to dominate the market during the forecast period, with Asia-Pacific predicted to have the highest growth with a CAGR of 6.1% during the forecast period. Europe had the most significant drone light shows market share due to the region’s rapid adoption of drones combined with the use of various technologies used to enhance events such as music festivals, corporate meetings, and live shows. Due to the rapid adoption of technology and an increased interest in consumer satisfaction, drone light shows, particularly animated shows, are rapidly growing in the region. North America is the second largest region for organizing drone light shows. Asia-Pacific, expected to have the highest drone light shows market growth due to increased drone adoption in the region and rapid technological advancements.
Leading Market Players: –
- Skymagic Live Pte. Ltd
- Hire UAV Pro LLC,
- Magic Drone
- Verity AG
- 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
- Flyby Guys
- Drone Arrival, Inc
- BotLab Dynamics Pvt. Ltd
- Geoscan Ltd
- Sky Elements, LLC
- CollMot Robotics Ltd
- Shenzhen HighGreat Innovation Technology Development Co., Ltd
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