DJI and Insta360 Vie for Market Share or DJI and Insta360 Clash in Rivalry or DJI and Insta360 Intensify Competition

CNBC AI News, July 25th – The battle for supremacy in the intelligent imaging and drone market is intensifying as DJI and Insta360, two industry titans, aggressively encroach on each other’s traditional strongholds.

Just days ago, Insta360 officially announced its foray into the drone market. And last night, DJI teased its first panoramic camera, slated for release on July 31st.

DJI, as the undisputed leader in the consumer drone sector, commands a staggering 70% global market share. The company has essentially become synonymous with aerial photography.

In recent years, DJI, not content with its dominance in drones, has strategically expanded into other segments of the intelligent imaging market, launching handheld gimbal cameras (Pocket) and action cameras (Action). Now, with its sights set on the panoramic camera market, DJI poses a direct challenge to Insta360.

Insta360, with a decade of experience in the intelligent imaging market, has established itself as a frontrunner in the panoramic camera space. The company boasts a global market share of 67.2%, holding the top spot for six consecutive years.

Faced with DJI’s competitive expansion, Insta360 is not standing still. The company recently announced its entry into the drone market, with plans to launch its own branded drone products, as well as collaborate with third parties on incubating new drone ventures. This move represents a direct strike at DJI’s core business.

From a market perspective, the respective niche markets of DJI and Insta360 are gradually reaching saturation, making it imperative for both companies to seek new avenues for growth. The rise of short-form video and Vlog content has fueled increased demand for aerial footage, driving market expansion in drones, thereby alluring Insta360 to venture into this space. Concurrently, under the trend of diversified image recording, DJI also aims to broaden its product line, encompassing a wider array of imaging scenarios.

This high-stakes game between the giants is poised to profoundly impact the industry. The stiff competition will incentivise both companies to innovate continuously, rolling out more compelling products boasting improved performance, enriched features, and more competitive price points. Ultimately, it’s the consumers who stand to gain the most.