The global AI Based Camera market gathered revenue around USD 8.2 billion in 2021 and market is set to grow USD 20.1 billion by the end of 2027 and is estimated to expand at a modest CAGR of 12.9% during the prediction period 2022 to 2027.
AI based cameras are programmed with machine learning and computer vision technologies and they can analyze and perform several additional functions than the traditional cameras. They provide innovative and diversified applications across various industries. These cameras are used in a wide range of applications like facial recognition, vehicle number identification, traffic monitoring, law enforcement, etc. According to our estimates, the public & social sector holds approximately 40% share in the AI based camera market, followed by retail, automotive, healthcare, and BFSI. Smart cities are a major application area for AI based camera market ecosystem. They are mainly used for surveillance and traffic monitoring. In New York, around 998 people were arrested through facial recognition technology in 2018. Further, in Australia, AI based cameras are used to monitor drivers who use cell phones illegally while driving and to send a warning notification. However, repeated offenders are fined heavily. Meanwhile, China has planned to install around 570 million smart cameras across the country by 2021. Since most of the developed and developing economies are moving towards the adoption of smart city projects, the AI based cameras market ecosystem will witness higher demand in the future.
Global AI Based Camera Market Dynamics:
The increasing focus on the excellent quality camera in smartphones is expected to drive the growth of the market during the forecast period. Smartphone producers are embedding AI (Artificial Intelligence) technology in their devices to recognize images. With this technology, the phone identifies the object and applies a correction filter for a better-quality image. The use of AI cameras in smartphones additionally clarifies low-resolution photographs because the AI-vision engine predicts the lacking pixels. This permits higher quality full-display images. Additionally, AI cameras are also used for user authentication, emotion recognition, device management, and others. With these features, the demand for AI cameras in smartphone production is gaining substantial traction, propelling the market growth. Moreover, increasing smart cities projects in developing economies such as China, India is expected to propel market growth. For instance, China installed around 570 million smart cameras across the country in 2022.
Report Coverage
| Report Scope | Details |
| Market Size | USD 20.1 billion by 2027 |
| Growth Rate | CAGR of 12.9% From 2022 to 2027 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2027 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | By Type, By Technology, By End User, Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned |
Google Inc,Intel Corporation,Koninklijke Philips N.V.,General Electric,IBM Corporation,Microsoft Corporation,Honeywell International Inc., Hangzhou Hikvision Digital Technology Co., Ltd.,SAMSUNG,Lenovo,Sony Corporation,Canon Inc.,Nikon Corporation,Huawei Technologies Co., Ltd.FUJITSU. |
Global AI Based Camera Market Ecosystem:
Rapid technological advancements have resulted in the growth of the AI based camera market. Hardware will account for more than 35% of spending made on smart cities, as of 2019. Processor manufacturers like Nvidia, Qualcomm, Samsung, IBM, and Intel will also have higher demand. More than USD 75Bn is likely to be spent on smart city projects worldwide, among which the US and China occupy the first two positions. The US, China, the UK, UAE, Singapore, Australia, and India are some countries witnessing major transformations due to smart city projects, which contribute to the demand for AI based cameras. The Middle East and Africa will invest more than USD 2 Bn by 2021. Asia Pacific is to witness major transformations and its spending on AI systems is expected to grow at a CAGR of more than 35% between 2018 and 2022. These are some of the factors that will contribute to the growth of the AI based camera ecosystem.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
AI Based Camera market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the AI Based Camera Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
Global AI Based Camera Market Segmentation:
By Type
By Technology
By End User
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Based on the type, the surveillance camera segment accounted for the largest market share in 2020 and is expected to show its dominance during the forecast period owing to the rising demand for safety across the globe
Based on the type, the AI based camera industry has been segmented into smartphones camera, surveillance camera, DSLR camera, and others. The surveillance camera segment of the AI based camera market accounted for the largest market share in 2020 and is expected to show its dominance during the forecast period owing to the rising demand for security across the globe. Moreover, increasing government spending for the security system in public places and facilities, as a crime prevention measure.
Based on the technology, the image/face recognition segment accounted for the major market share in 2020 and is expected to continue this pattern during the forecast period due to the prominent use in smartphones
Based on the technology, the AI based camera industry is segmented into image/face recognition, voice/speech recognition, computer vision, and others. The image/face recognition segment accounted for the major market share in 2020 and is expected to continue this pattern during the forecast period due to the prominent use of smartphones. Several smartphones are capable of identifying objects and faces while taking photographs. The use of image/face recognition in security systems is also contributing to market growth. Moreover, the integration of image/face recognition in cameras is prompting governments to invest in AI in sectors such as healthcare, transportation, and others, proliferating the segment growth during the forecast period.
Based on region, North America is expected to dominate the AI based camera market during the forecast period
North America is expected to dominate the AI based camera market during the forecast period owing to the presence of prominent players such as Honeywell, Google, and Apple. Moreover, the integration of AI in consumer electronic devices, surveillance systems, and retail & law enforcement sectors propelling the market growth. Furthermore, the constant product launch in the region is expected to flourish the market growth. For instance, in June 2020, Hanwha Techwin America, a global supplier of IP and analog video surveillance solutions, launched a new line of 4K AI cameras. This is the part of the Wisenet P series, the new AI-based cameras capture pristine images at up to 4K resolution while including powerful, in-camera deep learning algorithms for advanced object detection, classification and error-free analytics. Thus, these types of product launches supported the growth of the market in the region.
The report also provides an in-depth analysis of AI based camera market dynamics such as drivers, restraints, opportunities:
Drivers
· Increasing demand for AI based cameras in the end-use industry
· Increasing smart cities projects in developing economies
· Growing demand for smartphones
Restraints
· High cost of AI camera
Opportunities
· Technological advancements in AI based camera
The report also provides an in-depth analysis of key trends in the AI based camera market:
· The increasing demand for AI based cameras for security reasons is one of the major trends that drive the market growth
· Technological advancements such as deep learning and big data drive the AI based camera market
The report also provides an in-depth analysis of recent news developments and investments:
· In January 2021, Dahua Technology (China), a global leading video-centric smart IoT solution, and service company launched WizSense/WizMind series which focus on the AI value transmission; HDCVI 6.0 Plus that offers continued development in over-coax technology and Full-color 2.0 which offers outstanding performance under extremely low light conditions, driving innovation to an AIoT future.
· In November 2021, Aqara (US), a leading provider of smart home products launched its next-gen flagship home security camera, the AI-enabled Camera Hub G3. The new camera is a 2K, pan-and-tilt camera with the local facial and gesture recognition features, and it integrates a built-in Zigbee 3.0 hub, allowing the device to connect up to 128 Aqara accessories.
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the AI Based Camera market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the AI Based Camera market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the AI Based Camera markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Key Points Covered in AI Based Camera Market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers