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Tech

A new market beckons in the drone industry

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Opening sequence

Tech

A new market beckons in the drone industry

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COMING UP:A new market beckons in the drone industry

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Transcript

00:00:02
>> Consumer drones used to be one of the sexiest markets intact but prices have plummeted and unsold products has gathered dust on the shelves. So now this cease are looking at startups that sell drone software and services to commercial businesses, newly relaxed US regulations have been a big help with that, says Reuters correspondent Heather Sommerville.
00:00:23
>> In August, the FAA implemented regulations that basily-made commercial drones legal with restrictions for the first time. So this big Fortune 500 companies feel they can go out and buy drones, buy the software and use it to help their businesses.>> Data research from CBN sites found venture capital financing for drown companies fell almost 60% in the last year.
00:00:48
That's import because of Chinese company DJI, they've cornered the market by slashing prices in just nine months from about $1,000 to about $300 per drone, forcing America drone start-ups to switch strategies and fast.>> There's a company called Drone Deploy, which is really focused on mapping. It sells its software to many different types of businesses, especially in agriculture It helps ranchers, farmers locate where the best water spots are, different variations in the terrain so they can figure out how best to plant crops.
00:01:25
>> Another company, 3D Robotics is hoping the can sell its $1,500 consumer drones that turned out to be a flop. It's re-outfitting those same drones to capture 3D images aimed at the construction industry in a bid to save itself.