Drones - Vietnam

  • Vietnam
  • In 2024, the revenue in the Drones market in Vietnam amounts to €3.6m.
  • It is projected to grow annually by 8.93% (CAGR 2024-2029).
  • In comparison to other countries, in China generates the highest revenue in the market in 2024, reaching €1,416.0m.
  • When considering the total population, per person revenues of €0.04 are generated in 2024.
  • By 2029, the volume in the Drones market is expected to reach 14.5k pieces units.
  • Additionally, a volume growth of 11.1% units is forecasted for 2025.
  • The average volume per person in the Drones market is projected to be 0.0pieces units in 2024.
  • "Vietnam's drone market is rapidly expanding, driven by increasing demand for aerial photography and surveillance applications."

Key regions: India, Brazil, United Kingdom, Canada, Europe

 
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Analyst Opinion

In 2022, the Drones segment continued to grow, driven by advancements in technology and changing consumer preferences, despite the worldwide supply chain disruption caused by COVID-19 and geopolitical bringing many market sectors to a stillstand. With the lifting of lockdown policies and the recovery of tourism around the world, the increasing popularity of drones for recreational use and aerial photography has created a wide range of opportunities for this segment. The global Drones segment reached US$3.64 billion in 2022, marking a huge increase from 2021.

When it comes to market leadership in the drone industry, we anticipate that well-known players such as DJI, Parrot, and Yuneec will maintain their dominance due to their strong brand reputation and diverse product offerings. However, smaller players that offer competitive pricing may also experience growth. With an extensive range of consumer drone models now available, including tricopters, quadcopters, hexacopters, and octocopters with varying numbers of rotors, the price range depends on the device's features, such as its size, sensing systems, onboard cameras, batteries, and flight modes. While lightweight hobbyist drones can be purchased for under US$100, prosumer drones with advanced features, such as 4K cameras, obstacle sensing systems, and a flight range of up to 5 kilometers, can cost over US$1,000. However, the overall trend in average drone prices is declining due to lower production costs and material prices.

With regards to further market growth in the Drones segment, we expect that demand for Drones will continue to increase, as they become more accessible and affordable. Advances in technology, such as longer battery life, improved camera quality, and obstacle avoidance, are making drones more versatile. However, regulations and privacy concerns remain challenges for the drone industry.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Visión general

  • Revenue
  • Key Players
  • Volume
  • Price
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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