Malaysia Drone Camera Market - Forecasts from 2023 to 2028

Malaysia drone camera market is projected to grow at a CAGR of 16.75%, increasing from US$155.133 million in 2021 to US$458.647 million by 2028.

The industry is expanding primarily due to rising demand for aerial photography, filming and falling drone costs. Compared to conventional camera equipment, drone cameras are more affordable for capturing high-quality footage. Aerial monitoring is necessary for meetings, major sporting events, and summer festivals.

Additionally, the drone camera market is being driven by the rising usage of drone cameras for real estate photography, mapping and surveying, agricultural, emergency response, search and rescue operations, marine rescue, meteorology, and deliveries, among other uses. Companies see potential in the Malaysian market and have come up with new and innovative product launches in the country.

Market Drivers:

Increasing advancements in artificial intelligence (AI) and IoT

Drone use and applications have expanded with the Internet of Things (IoT), artificial intelligence (AI), and data analytics, going beyond airborne photography, package delivery, and flashy drone light shows. Drone technology may benefit many industries, including oil and gas, agriculture, and energy. The benefits of drone camera usage are many, and government and people are willing to take advantage of it. As per the MAMPU, the IoT segment will generate RM 42.5 billion in GDP by 2025. The increasing return on the Internet of Things (IoT) in Malaysia provides an edge to the Malaysian government to invest more in technology, and even the imports have increased significantly.

Government Initiatives

Favorable investments by the Malaysian government in drone technology and improvement in the defense budget are also driving factors to boost drone camera adoption since defense & security forces are the major users of surveillance services. For instance, in February 2023, the Malaysian government announced a defense budget of US$4 billion, a 10% increase compared to 2022's budget. Further, in October 2022, a collaborative agreement between TAI and Malaysia's research and development center MIMOS was revealed, and the Malaysian government will use this ordered drone.

Market Developments:

• DJI, a Chinese technology company headquartered in Shenzhen, Guangdong, launched Mavic 3 Classic in Malaysia in November 2022. Exactly one year after the Mavic 3 debuted, DJI unveiled its camera drone's Classic version. This entry-level version has fewer cameras.
• The Malaysia Drone Technology Action Plan 2022-2030 (MDTAP30), which MRANTI is spearheading under the Ministry of Science, Technology, and Innovation (MOSTI), was unveiled by the Malaysian government in September 2022. The strategy encompasses every stakeholder in the DroneTech ecosystem, including significant organizations like CAAM, MCMC, and JUPEM, to enable industrial expansion while upholding safety standards.

Drone cameras for surveillance

Based on application, Malaysia's drone camera market is analyzed into photography & videography, thermal imaging, and surveillance. The demand for drone cameras for surveillance applications in Malaysia is expected to show significant growth due to the country's crime rate surge. For instance, according to the Department of Statistics Malaysia, in 2022, commercial crime in Malaysia witnessed a 15.3% increase compared to 2021. Moreover, according to the Vehicle Theft Reduction Council of Malaysia Berhad, the number of private vehicles reported stolen stood at 1,006 in Malaysia, representing a 22.4% increase over the number of cases recorded in 2021.

Malaysia's drone camera market for defense.

By the end-user industry, Malaysia's drone camera market is segmented as commercial, defense, and others. Malaysia's drone camera market is estimated to grow significantly due to its numerous uses in various industries. The defense segment of Malaysia's drone camera market refers to the specific area within the country's drone industry that caters to the defense and military sectors. In this segment, drone cameras are primarily developed, manufactured, and utilized for various defense-related purposes.

Malaysia's defense drone camera market also encompasses research and development activities focused on enhancing the capabilities of drone cameras for military applications. This includes advancements in camera technology, image stabilization, night vision capabilities, and the integration of artificial intelligence and machine learning algorithms for autonomous surveillance and target identification. But, in Malaysia, drones are also in demand in other disciplines, according to the paper published by Copernicus on recent drone applications in Malaysia.

Market Segmentation:

BY APPLICATION

• Photography & Videography
• Thermal Imaging
• Surveillance

BY RESOLUTION

• 4K Resolution
• Others

BY END-USER

• Commercial
• Defense
• Others