Smart Camera Market

Global Smart Camera Market Size (2024 to 2032):

The size of the global smart camera market was worth USD 6.65 billion in 2023. The global market is anticipated to grow at a CAGR of 9.17% from 2024 to 2032 and be worth USD 14.65 billion by 2032 from USD 7.26 billion in 2024. 

MARKET SCENARIO

Smart cameras, also known as intelligent cameras, are machine vision systems that can extract application-specific information from a captured image and generate an event description or make a decision that is employed in intelligent & automated systems. Smart cameras are trending nowadays because of the built-in functionalities that they offer to the user like LTE, accessibility with an open-source Android operating system for users, professional properties with interchangeable lenses, and various network services that can be distinct from telecommunication providers.

MARKET DRIVERS

The growing usage of smart cameras in various industries is primarily driving the global market growth.

The growth of the global smart cameras market is further driven by the growing number of applications of smart cameras for security & surveillance and an increasing number of technological developments in quality imaging and getting improved. Also, demands for digital cameras with extra features from consumers, which can resemble smartphones, are the other major factors that are fuelling the growth of the smart cameras market over the forecast period. Furthermore, intensifying norms by various governments around the world, for setting up security & surveillance systems in public places are boosting the adoption of these smart cameras. Nonetheless, developments and transformation of embedded system designs, smart lenses, & image sensors are creating lucrative growth opportunities for the expansion of the Global Smart Camera Market among key players.

MARKET RESTRAINTS

However, factors such as the growing adoption of smartphones that have better camera quality, the absence of standardization for the installation of these smart cameras, and the high costs that are involved in the business of these smart cameras are hampering the adoption of these smart cameras and turning into challenges of the target market globally.

REPORT COVERAGE

REGIONAL ANALYSIS

In 2023, Asia-Pacific was the major region in the global market, accounting for 32.7% of the global market share.

The technological advancements in these smart cameras, majorly for the security & surveillance in the Asia-Pacific region, are the significant driver for the growth of the target market in this locale. In addition, the Asia-Pacific region is emerging as a manufacturing hub of these smart cameras, which is fuelling the revenue of the Smart Camera Market, in this locale. The key application verticals of these smart cameras of Asia-Pacific are the public spaces, military & defense, and transit facilities, which are also estimated to register rapid development over the prediction period. And the major contributors of the Asia-Pacific regional smart camera market are the regional markets in China, Japan, and South Korea. It is also expected that this regional market in the Asia-Pacific region is going to continue its dominance over the projection period, too, when compared to other regional markets around the world.

The Latin America regional smart camera market is anticipated to witness the highest growth during the evaluated period. It is the second-largest regional market, worldwide, with a share of around 31.7%. The major driving factors for the growth of the target market in this area are the growing concern regarding safety & security and the rapid growth of the bio-metric market in Latin America.

KEY PLAYERS IN THE GLOBAL SMART CAMERA MARKET

The key players of the global smart camera market include Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Bosch Security Systems, Inc. (Germany), Canon Inc. (Japan), Nikon Corporation (Japan), Flir Systems, Inc. (U.S.), Panasonic Corporation (Japan), Raptor Photonics Ltd. (U.K.), Olympus Corporation (Japan), Polaroid Corporation (U.S.), Watec Cameras Inc. (Japan), IntelliVision (U.S.), VIVOTEK Inc. (Taiwan), VMukti Solutions Pvt. Ltd. (India), Axis Communications AB (Sweden), Zmodo (U.S.), and Vivint, Inc. (U.S.).

RECENT HAPPENINGS IN THE GLOBAL SMART CAMERA MARKET

• Bosch Security Systems Inc., one of the key players in the smart camera market, has announced that they are going to launch INTEOX, which is a new camera platform designed to modernize security and safety and provide more comfort to its users, system integrators, and application developers in terms of innovation & personalization.
• Samsung, a Korean technology company and a major security camera developer, announced that it is developing an image sensor that might work better than a human eye with a resolution of 600MP other types of sensors that can register smells or tastes.

DETAILED SEGMENTATION OF THE GLOBAL SMART CAMERA MARKET INCLUDED IN THIS REPORT

This research report on the global smart camera market has been segmented and sub-segmented based on the product type, connectivity type, application, vertical, sensor technology, scanning technology, and region.

By Product Type

• Standalone
• Single-Chip
• Embedded

By Connectivity

• Wi-Fi
• Bluetooth
• Wireless HART
• Others

By Application

• Robotics
• Automobile
• Security
• Medical
• Consumer Electronics
• Industrial
• Others

By Vertical

• Public Spaces
• Military & Defence
• Transit Facilities
• Commercial Facilities
• Enterprise & Government Infrastructure
• Residential Infrastructure

By Sensor Technology

• CMOS
• CCD

By Scanning Technology

• Area Scan
• Line Scan

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa