Artificial Intelligence (AI) Camera Market

Market Overview:

The global artificial intelligence (AI) camera market size reached US$ 5.94 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.96 Billion by 2028, exhibiting a growth rate (CAGR) of 16.0% during 2023-2028. The growing concerns regarding safety and security, rising adoption of AI-powered CCTV cameras, augmenting sales of premium feature-rich smartphones, and increasing product applications in traffic monitoring and homeland security represent some of the key factors driving the market.

Artificial intelligence (AI) cameras refer to pre-installed features or devices embedded with AI technology to enhance their capabilities, enabling them to perform various functions, such as image and facial recognition, object detection, emotion analysis, monitoring and surveillance, and movement detection. These systems leverage advanced technologies and algorithms, including machine learning (ML) and computer vision, to interpret and process the visual data by comparing it with existing databases and other sources, unlike traditional cameras that only record images or videos. They also rely on sensors to analyze photos and identify optimal settings for capturing images. Since they can detect and interpret motion within their field of view, AI cameras are rapidly gaining traction across numerous industries and applications, such as law enforcement, consumer electronics, retail stores, and public offices.

Artificial Intelligence (AI) Camera Market Trends:

With the growing concerns regarding safety and security across the globe, there is a surge in demand for technologically advanced surveillance systems. This has led to the emergence of AI-based CCTV cameras to monitor unusual or suspicious activity and analyze threats in real-time, enabling businesses to make informed decisions. As a result, the rising adoption of AI CCTV cameras in the residential and commercial sector, government offices, banks, traffic monitoring, and other high-risk areas represent the primary factor driving the market growth. Besides this, the increasing criminal and terrorist activities worldwide and the advent of smart homes are other major factors supporting the market growth. Additionally, there has been a significant shift among individuals toward premium feature-rich smartphones integrated with cameras with advanced capabilities, including optical /image stabilization (OIS), larger sensors, bright lenses, and better optical zoom. As a result, the widespread integration of AI cameras in smartphones that optimize camera settings to capture high-quality images with precision and clarity has catalyzed market growth. Furthermore, governments of various nations are making heavy investments in sophisticated systems that facilitate more secure, cost-effective, flexible, and faster data acquisition and surveillance. In line with this, the surging applications of AI cameras in homeland security and defense organizations have propelled market growth. Other factors, including the advent of 5G technology, rising incorporation of AI cameras in smart devices, rapid urbanization, inflating consumer expenditure capacities, advancements in big data, and the development of smart city projects, are also creating a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global artificial intelligence (AI) camera market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on technology and end user.

Technology Insights:

• Image/Face Recognition
• Computer Vision
• Emotion Recognition
• Network Cameras
• Security Cameras
• Others
   

The report has provided a detailed breakup and analysis of the artificial intelligence (AI) camera market based on technology. This includes image/face recognition, computer vision, emotion recognition, network cameras, security cameras, and others.

End User Insights:

• BFSI
• Healthcare
• Automotive
• Retail
• Government
• Logistics and Transportation
• Military and Defense
• Commercial Spaces
• Media and Entertainment
• Others
   

A detailed breakup and analysis of the artificial intelligence (AI) camera market based on the end user has also been provided in the report. This includes BFSI, healthcare, automotive, retail, government, logistics and transportation, military and defense, commercial spaces, media and entertainment, and others.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for artificial intelligence (AI) camera. Some of the factors driving the Asia Pacific artificial intelligence (AI) camera market included its increasing spending on advanced surveillance products, growing concerns regarding safety and security among the masses, ongoing technological innovations, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global artificial intelligence (AI) camera market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Avigilon Corporation, Canon Inc., Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co. Ltd, Hanwha Vision Co. Ltd. (Hanwha Aerospace Co. Ltd.), Honeywell International Inc., Huddly AS, Mobotix AG, Zhejiang Dahua Technology Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global artificial intelligence (AI) camera market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global artificial intelligence (AI) camera market?
• What is the impact of each driver, restraint, and opportunity on the global artificial intelligence (AI) camera market?
• What are the key regional markets?
• Which countries represent the most attractive artificial intelligence (AI) camera market?
• What is the breakup of the market based on technology?
• Which is the most attractive technology in the artificial intelligence (AI) camera market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the artificial intelligence (AI) camera market?
• What is the competitive structure of the global artificial intelligence (AI) camera market?
• Who are the key players/companies in the global artificial intelligence (AI) camera market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the artificial intelligence (AI) camera market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global artificial intelligence (AI) camera market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the artificial intelligence (AI) camera industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.