Global AI Camera Market Size, Share & Industry Trends Analysis Report By Component (Hardware, Software and Services), By Type, By Technology, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Global AI Camera Market Size, Share & Industry Trends Analysis Report By Component (Hardware, Software and Services), By Type, By Technology, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

The Global AI Camera Market size is expected to reach $38 billion by 2030, rising at a market growth of 22.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 38,251.3 thousand units experiencing a growth of 20.5% (2019-2022).

AI cameras in the manufacturing segment monitor the condition of machinery and equipment in real-time. It identifies signs of wear and tear, overheating, or other issues, allowing for predictive maintenance. Consequently, the manufacturing segment would generate approximately 8.3% share of the market by 2030. This reduces downtime, lowers maintenance costs, and extends the lifespan of equipment. Remote monitoring of manufacturing operations using AI cameras allows for oversight and control from anywhere. This is particularly valuable for multi-site or global manufacturing operations.

The major strategies followed by the market participants are Product launch as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2023, Panasonic Holdings Corporation unveiled the LUMIX G9II digital mirrorless camera. The new product has the features of a sensor and Phase Detection Auto-Focus (PDAF) technology. Moreover, In September, 2023, Nikon Corporation unveiled the ECLIPSE Ji. The new product has a microscopic design without eyepieces. ECLIPSE Ji uses AI in order to automate the analysis of cellular images and organize research workflows involving cancer and nerve diseases.

Based on the Analysis presented in the KBV Cardinal matrix; Samsung Electronics Co., Ltd. is the forerunners in the Market. In June, 2023, Samsung Electronics Co., Ltd. released its business strategy and foundry technology innovations. The new technology is based on gate-all-around (GAA)-based advanced node technology and assists in meeting the requirements of customers using AI applications. and companies such as Panasonic Holdings Corporation, Honeywell International, Inc., Johnson Controls International PLC are some of the key innovators in the Market.

Market Growth Factors

Rising demand for surveillance solutions

Surveillance solutions combining artificial intelligence with camera technology are increasingly being adopted across various sectors for security, safety, and operational efficiency. The need for enhanced security and monitoring solutions has driven the demand for AI cameras. Surveillance systems with AI capabilities can identify and respond to security threats in real-time. Surveillance cameras with AI can detect suspicious activities, unauthorized access, and potential security breaches, aiding in crime prevention and identifying perpetrators. The rising demand for surveillance solutions is a significant driver of growth in the market.

Integration of AI cameras in the transportation sector

AI cameras are integral to advanced driver-assistance systems (ADAS), providing critical visual input for lane-keeping assistance, adaptive cruise control, and collision avoidance systems. These systems enhance driver safety and reduce accidents. AI cameras play a central role in autonomous vehicle technology, providing real-time perception of the vehicle's surroundings. They help with navigation, object detection, and decision-making, moving users closer to fully autonomous transportation. It monitor traffic flow and congestion, optimize traffic signal timing, and provide real-time traffic information to drivers, reducing congestion and improving transportation efficiency. As the demand for AI-driven transportation solutions grows, it drives the market.

Market Restraining Factors

Concerns regarding data security

Unauthorized access to these systems or the data they collect can result in data breaches. Hackers could access sensitive visual data, compromising individuals' privacy and security. Using these for surveillance and facial recognition can raise serious privacy concerns. Unauthorized data collection can infringe upon individuals' privacy rights. These often rely on network connections for data transmission. Weak or unsecured networks can expose data to potential interception and unauthorized access. AI cameras that use facial recognition or other biometric data must handle such data with extreme care to prevent misuse or identity theft. The lack of standardization in the market slows its growth and adoption.

Component Outlook

By component, the market is categorized into hardware, software, and services. The software segment covered a considerable revenue share in the market in 2022. The camera software is essential for improving, compositing, and transforming photographs and videos to professional grade. The software includes a variety of functions and shooting modes. It is in charge of incorporating complex AI algorithms that enable intelligent features like scene recognition, facial recognition, object tracking, and image enhancement. In addition, they allow instantaneous scene recognition, exposure, and autofocus adjustments by facilitating the processing of images in real time.

Type Outlook

Based on type, market is classified into surveillance cameras, smartphone cameras, digital cameras, industrial cameras, and others. In 2022, the surveillance cameras segment witnessed the largest revenue share in the market. The rising urban population has increased the demand for continual surveillance to ensure citizens' safety. In addition, businesses are investing in surveillance cameras powered by artificial intelligence to provide 24/7 protection for their infrastructure and overall premises. The AI cameras capture images and videos to create security protocols using facial recognition to monitor and analyze populations in real time and to process videos to identify potential threats. These cameras are equipped with sophisticated analytic capabilities, such as vehicle detection, person detection, face detection, traffic counting, person counting, and license plate recognition.

Technology Outlook

On the basis of technology, the market is divided into image/face recognition, voice/speech recognition, computer vision, context awareness, and others. The context awareness segment procured a promising growth rate in the market in 2022. Context-aware AI cameras can recognize objects and entities in their surroundings with greater accuracy. They consider the context in which these objects appear, making it easier to distinguish between similar-looking items and reducing false positives. Context-aware cameras adjust exposure, focus, and other image settings based on the lighting conditions and the nature of the scene. This ensures that images and videos are of higher quality and provide better situational awareness. Context-aware AI cameras can recognize various scenes and environments, such as landscapes, sports events, or indoor settings.

Vertical Outlook

By vertical, the market is segmented into consumer electronics, manufacturing, sports, agriculture, retail, healthcare, transportation, government & law enforcement, automotive, and others. In 2022, the consumer electronics segment registered the maximum revenue share in the market. These are altering how images and videos are captured and interacted with, thereby transforming the outlook of the consumer electronics segment. It can also apply real-time effects and filters to images and videos, providing users with inventive options for capturing distinctive, visually appealing content.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a significant revenue share in the market. Consumer interest in technologically advanced devices is rising, and numerous significant consumer electronics companies are expanding in the region. Increasing disposable incomes and the availability of prominent brands in the electronics sector are accelerating product adoption. Additionally, growing government initiatives to employ AI-based systems in surveillance and law enforcement initiatives are anticipated to create new growth opportunities for the regional market.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Axis Communications AB, Bosch Security Systems GmbH, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Huawei Technologies Co., Ltd., Johnson Controls International PLC, LG Electronics, Inc. (LG Corporation), Nikon Corporation, Panasonic Holdings Corporation, and Samsung Electronics Co., Ltd.

Recent Strategies Deployed in AI Camera Market

Partnerships, Collaborations, and Agreements:

Mar-2023: Axis Communications AB formed a partnership with Irisity AB, a leading provider of AI-powered video analytics software. Under this partnership, the Irisity Edge was launched. The new product integrates video analytics with surveillance cameras in order to offer comprehensive and intelligent video security solutions to customers.

May-2021: Johnson Controls International PLC extended the partnership with VSBLTY Groupe Technologies Corp., a Canada-based software provider. Through this partnership, the retail solutions portfolio of Sensormatic Solutions was enhanced. Sensormatic Solutions helped the retailers determine demographic insights influencing purchase decisions and raising consumer engagement at the time of purchase.

Product Launches and Product Expansions:

Sep-2023: Nikon Corporation unveiled the ECLIPSE Ji. The new product has a microscopic design without eyepieces. ECLIPSE Ji uses AI in order to automate the analysis of cellular images and organize research workflows involving cancer and nerve diseases.

Sep-2023: Panasonic Holdings Corporation unveiled the LUMIX G9II digital mirrorless camera. The new product has the features of a sensor and Phase Detection Auto-Focus (PDAF) technology. The new product offers high-quality images, rich colors, and high resolution.

Aug-2023: Hangzhou Hikvision Digital Technology Co., Ltd. launched the 16 MP 180° PanoVu Network Camera. The new product has the features of a 180° spliced image and four fixed-focus lenses. The 16 MP 180° PanoVu Network Camera offers a better and more detailed image with comprehensive monitoring and an unrivaled resolution close to 6K.

Jun-2023: Hangzhou Hikvision Digital Technology Co., Ltd. released the 8 MP DeepinView TandemVu Bullet Camera to enhance its TandemVu family. The new product has the capability of monitoring large scenes and close details at the same time and also helps in achieving situational awareness and proactive security.

Jun-2023: Hangzhou Hikvision Digital Technology Co., Ltd. added the ColorVu Smart Hybrid Light Camera Series to its ColorVu camera portfolio. The new product assists security professionals in analyzing a wide range of lighting modes to identify critical event-triggered details in dark environments.

Jun-2023: Samsung Electronics Co., Ltd. released its business strategy and foundry technology innovations. The new technology is based on gate-all-around (GAA)-based advanced node technology and assists in meeting the requirements of customers using AI applications.

Jun-2023: Samsung Electronics Co., Ltd. introduced the Samsung Bespoke Jet AI, a cordless stick vacuum. The new product offers a self-emptying enhanced all-in-one clean station, up to 280W suction power, and functions on the basis of artificial intelligence (AI).

Nov-2022: Nikon Corporation added the ultra-compact LuFact smart camera, LuFact A2000, to enhance its LuFact A1000 portfolio. The new product implements edge AI computing to improve the accuracy and speed of object inspection without requiring a computer connection. Additionally, the new product uses LuFact A2000-G AI processing technology and can be used with the LuFact series of camera heads.

Jul-2020: Johnson Controls International PLC released OpenBlue, a set of solutions and services that help integrate the building expertise of the company with its cutting-edge technology. The new digital platform, when combined with the core building systems of Johnson Controls, will assist in delivering sustainable and safer spaces.

Acquisition and Mergers:

Aug-2020: Johnson Controls International PLC completed the acquisition of Qolsys Inc., a Silicon Valley-based security and smart home manufacturer. Through this acquisition, Johnson Controls advanced the offerings of the digital platform OpenBlue and increased operations across geographical markets.

Scope of the Study

Market Segments covered in the Report:

By Component

• Hardware
• Software
• Services

By Type (Volume, thousand units, USD Million, 2019-2030)

• Surveillance Cameras
• Smartphone Cameras
• Digital Cameras
• Industrial Cameras
• Others

By Technology

• Image/Face Recognition
• Computer Vision
• Voice/Speech Recognition
• Context Awareness
• Others

By Vertical (Volume, thousand units, USD Million, 2019-2030)

• Consumer Electronics
• Government & Law Enforcement
• Sports
• Healthcare
• Agriculture
• Retail
• Transportation
• Automotive
• Manufacturing
• Others

By Geography (Volume, thousand units, USD Million, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Axis Communications AB
• Bosch Security Systems GmbH
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd.
• Johnson Controls International PLC
• LG Electronics, Inc. (LG Corporation)
• Nikon Corporation
• Panasonic Holdings Corporation
• Samsung Electronics Co., Ltd.

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