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The AI camera market size is forecast to increase by USD 6.49 billion at a CAGR of 12.04% between 2023 and 2028. The growth of the market depends on several factors, including the need for surveillance and security across smart cities, the advent of smart AI-based surveillance, and the need to mitigate criminal activities and terrorist attacks. AI cameras are cameras that use AI programs to deal with images and videos. AI cameras have data-rich decision-making capabilities to detect movement and capture high-quality images. This market research and growth report also includes key drivers, trends, and challenges during the forecasted period.
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The market is witnessing rapid growth, driven by the convergence of digitalization and cutting-edge technologies. AI enabled cameras are revolutionizing various industries, including consumer electronics, sports, agriculture, and automotive, by offering advanced features powered by Artificial Intelligence and Machine Learning. Smartphone manufacturers are increasingly integrating AI capabilities into their devices, enhancing photography and videography experiences for consumers. Investments from venture capital firms like Redpoint Ventures further accelerate innovation in AI camera technology, catering to the growing consumer inclination towards technologically advanced devices. This market evolution signifies the pivotal role of AI in shaping the future of imaging solutions across diverse sectors.
The market is experiencing rapid growth, driven by increased demand for surveillance and security systems across various sectors like manufacturing, logistics, and healthcare. They offer advanced features such as facial recognition and object detection, enhancing safety monitoring and quality control processes. With the rise of digitalization and IoT, there's a surge in data volumes, prompting investments from companies like Redpoint Ventures. Smartphone manufacturers are integrating AI technology into their devices, catering to consumer inclination towards technologically advanced cameras. They find applications not only in security but also in photography, videography, sports analytics, agriculture, and automotive sectors.
The need for surveillance and security across smart cities is a major factor driving the market growth. Smart cities utilize advanced technologies to improve infrastructure performance and enhance communication, cost-efficiency, and quality of life. They incorporate smart traffic control, home monitoring, waste management, water management, and intelligent transportation.
Surveillance and security equipment, like AI cameras, are deployed in smart cities to enhance safety and security. Axis Communications, a subsidiary of Canon, offers surveillance solutions adopted by smart cities worldwide. The growing number of smart cities, particularly in countries like India and China, is driving the demand for AI cameras.
Strategic alliances are an ongoing trend in the market boosting the market growth. Companies are focusing on improving their solutions and developing new solutions. Hence, they are adopting strategic alliances. Some key strategic partnerships in the global market are as follows:
As companies seek to capitalize on synergies, innovations in the market will continue to increase during the forecast period. The flow of investments in research and development is expected to drive the growth of the market in focus during the forecast period.
The security of surveillance data is a major challenge in the market. The security of surveillance data is at risk due to increasing incidents of data breaches and theft by hackers. For example, in January 2020, over 515,000 servers, routers, and security cameras had their Telnet credentials leaked on a hacking forum. In 2022, more than 4,100 publicly disclosed data breaches occurred. To protect surveillance data, a secure IT environment is essential. Surveillance solutions collect sensitive video and audio data, making them vulnerable to privacy violations if breached. Leaks of private videos and photos can damage brand loyalty and lead to lawsuits. Concerns about surveillance data security are expected to impact the growth of the global market negatively.
The Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
In the type segment of the market, AI-powered cameras serve diverse purposes across various industries. In surveillance and security systems, they enhance safety monitoring through advanced features like facial recognition and object detection, ensuring efficient threat detection and response. Moreover, in manufacturing and logistics, AI cameras play a crucial role in quality control and process optimization. They analyze vast data volumes in real-time, identifying defects and streamlining operations for improved efficiency. The healthcare industry benefits from AI-cameras in safety monitoring applications, such as patient monitoring and fall detection. With their ability to analyze complex data, AI-cameras contribute to enhanced patient care and safety protocols.
The market share growth by the smartphone cameras segment will be significant during the forecast period. This growth is attributed to the demand for premium-range smartphones that are integrated with high-quality cameras. They offer high-quality images as they include features such as optical image stabilization (OIS), larger sensors, bright lenses, and better optical zoom for photography.
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The smartphone cameras segment was valued at USD 1.62 billion in 2017 and continued to grow until 2021. The growth in this segment is expected to be driven due to the growing demand for AI-powered smart features. Companies are integrating AI-cameras in smartphones to provide advanced features for capturing images. AI-powered smart feature cameras enable mobile devices to optimize photographs with precision and create excellent images. With the integration of technologies such as AI in cameras, smartphones can capture images that rival cameras. Such factors are anticipated to drive the growth of the segment and, in turn, the market in focus during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
AI cameras have significantly enhanced the capabilities of law enforcement and homeland security departments in the Asia-Pacific (APAC) region. Countries like Australia, China, India, Japan, Malaysia, Pakistan, Singapore, South Korea, Taiwan, and Vietnam have deployed AI-cameras in various locations, including streets, schools, hospitals, airports, and government organizations, to combat illegal activities and safeguard critical infrastructures. The rise in crimes and security threats has further prompted the adoption of AI cameras to identify and apprehend criminals. The presence of leading companies like Sony and Panasonic in the region is also driving the development of AI cameras. Government initiatives, such as the Safer City Plan in India, are expected to increase the adoption of security surveillance cameras, including AI-cameras, in the region. For instance, the Government of Delhi plans to install 140,000 new CCTV cameras to enhance citizen safety. Increased government spending in security surveillance will drive the growth of the market in the APAC region during the forecast period..
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing rapid growth, fueled by advancements in technology and increasing demand across various sectors such as manufacturing and logistics, healthcare industry, consumer electronics, sports, agriculture, and automotive. AI enabled cameras equipped with facial recognition and object detection capabilities are revolutionizing surveillance and security systems, enhancing safety and efficiency. With the proliferation of smartphone manufacturers integrating AI cameras into their devices, consumers are inclined towards technologically advanced solutions that offer superior imaging and videography capabilities. Investment from firms like Redpoint Ventures reflects the market's potential, driven by the growing data volumes and the adoption of Machine Learning algorithms to optimize performance. The market is poised for continued expansion, catering to diverse industry needs and driving innovation in visual technology.
The market is witnessing significant growth driven by various factors, such as the increasing demand for quality control and safety monitoring across industries, particularly in the healthcare sector. With the ongoing digitalization trend, they are becoming increasingly prevalent, offering advanced features like process optimization and standardized interfaces. Consumer inclination is towards technologically advanced devices equipped with AI capabilities, including IoT integration and enhanced user experience. These cameras play a vital role in various applications, from traffic counting and vehicle detection to urban planning and safety monitoring. Furthermore, they excel in tasks such as video stabilization, transforming photographs, and transforming videos while also providing features like white balance adjustment and filtering out unwanted audio. The market continues to evolve, providing innovative solutions for diverse visual input needs.
The market is witnessing rapid expansion fueled by the widespread adoption of technology across various sectors. With advanced analytical functions and AI algorithms, AI-enabled cameras offer unparalleled capabilities in analyzing crowds, automating tasks, and facilitating autonomous vehicles. These cameras employ sophisticated features like autofocus adjustments and better exposed photos, thanks to their integration with cutting-edge camera hardware and camera software. Powered by robust battery systems and supported by diverse connectivity options such as Bluetooth and communication protocols, they enable seamless automation applications and enhance the efficiency of businesses. Equipped with computer vision capabilities and central processing units, AI cameras excel in compositing visual data and executing complex computer vision algorithms, shaping the future of visual technology.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2017 to 2027.
AI Camera Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.04% |
Market growth 2023-2027 |
USD 6.49 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arecont Vision Costar LLC, Avigilon Corp., Basler AG, Canon Inc., Cisco Systems Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha, Honeywell International Inc., Huddly Group, Johnson Controls International Plc., MOBOTIX AG, Nikon Corp., Panasonic Holdings Corp., Pelco Inc., Robert Bosch GmbH, Sony Group Corp., Teledyne Technologies Inc., Zhejiang Dahua Technology Co. Ltd., Eagle Eye Networks Inc., and Netgear Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Application
8 Market Segmentation by Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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