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AI Camera Market Research Report: Information By Technology (Image/Face Recognition, Computer Vision, Emotion Recognition, DSLR Cameras, Network Cameras, Security Cameras, Others), By End-user (BFSI, Healthcare, Automotive, Consumer Electronics, Retail, Government, Logistics & Transportation, Military and Defense, Commercial Spaces, Media and Entertainment, Others) –Market Forecast Till 2032

ID: MRFR/ICT/7077-HCR | 111 Pages | Author: Shubham Munde| April 2024

AI Camera Market Overview

AI Camera Market Size was valued at USD 7.9 Billion in 2022. The Artificial Intelligence (AI) Camera market industry is projected to grow from USD 9.085 Billion in 2023 to USD 27.79122 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.00% during the forecast period (2024 - 2032). The A.I. technology developed by leading companies is continuously advancing. There is a rising need for improved security features, and businesses are increasingly adopting modernized marketing strategies as the key market drivers enhancing market growth.

Figure 1: AI Camera Market Size, 2023-2032 (USD Billion)

AI Camera Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

AI Camera Market Trends

  • Integration of A.I. in surveillance systems is driving the market growth

The AI camera market is the integration of artificial intelligence algorithms directly into surveillance systems. AI-powered cameras are now equipped with advanced features such as facial recognition, object detection, and behavioral analysis. These cameras can not only detect and identify individuals but also interpret their actions, making them invaluable for security applications. This trend is driven by the need for more intelligent and proactive surveillance solutions, enhancing the overall safety and security of various environments, including public spaces, businesses, and smart homes. This factor drives the market CAGR.

Additionally, the adoption of A.I. cameras for retail analytics is boosting market expansion. Businesses are leveraging AI-powered cameras to analyze customer behavior, foot traffic, and buying patterns within retail spaces. These cameras can provide insights into customer demographics, preferences, and dwell times, enabling retailers to optimize store layouts, plan targeted marketing campaigns, and enhance the overall customer experience. The data-driven decision-making facilitated by A.I. cameras is reshaping the retail landscape, enabling businesses to stay competitive and responsive to changing consumer demands.

The A.I. cameras are increasingly being utilized in healthcare settings and remote monitoring applications. These cameras can monitor patients' vital signs, detect falls or unusual behavior, and alert healthcare providers or caregivers in real-time. Due to the ongoing global health challenges, the demand for A.I. cameras for remote patient monitoring and telemedicine have surged. AI algorithms enable these cameras to assess patient conditions accurately, providing valuable support to healthcare professionals and ensuring timely interventions.

For instance, Spot Al introduced an AI-driven camera system for video editing in October 2021. The company unveiled a video analytics solution backed by a Series A funding round of $22 million from Redpoint Ventures and Bessemer Venture Partners. Thus, driving the Artificial Intelligence (AI) Camera market revenue.

AI Camera Market Segment Insights

AI Camera Type Insights

The Artificial Intelligence (AI) Camera Market segmentation, based on technology, includes Image/Face Recognition, Computer Vision, Emotion Recognition, DSLR Cameras, Network Cameras, Security Cameras, and Others. The largest category is the image/face recognition category, constituting approximately 45% of the market. Its widespread adoption stems from its versatile applications, including security, access control, and personalized user experiences. Furthermore, the fastest-growing category is Emotion Recognition technology, projected to reach 30% of the market share in the next few years. Emotion Recognition's rapid growth is driven by its applications in customer experience, marketing, and Healthcare, where understanding human emotions is pivotal.

Figure 2: AI Camera Market, by Technology, 2022 & 2032 (USD Billion)

AI Camera Market, by Technology

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

AI Camera End-user Insights

The AI Camera Market segmentation, based on end-users, includes BFSI, Healthcare, Automotive, Consumer Electronics, Retail, Government, Logistics and transportation, Military and Defense, Commercial Spaces, Media and Entertainment, and Others. The retail category accounts for about 30% of all end-user market share, making it the largest end-user category. Retailers leverage A.I. cameras for various applications, including customer behavior analysis, inventory management, and loss prevention, enhancing overall operational efficiency and customer experience. Furthermore, the fastest-growing category is Healthcare, which is expected to reach 25% of the market share. A.I. cameras in healthcare facilitate patient monitoring, security, and staff management, leading to improved healthcare outcomes and operational efficiency.

 AI Camera Regional Insights

The analysis offers market reports for North America, Europe, Asia-Pacific, and the rest of the world, organized by region. This market will be dominated by the North American artificial intelligence (AI) camera market. The area has a strong technical infrastructure and a high rate of uptake for cutting-edge innovations like AI and computer vision. Concerns about preventing crime, ensuring public safety, and safeguarding vital infrastructure will spur market expansion in this area.

The US, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, and South Korea are other important nations covered in the market analysis.

Figure 3: AI Camera Market Share by Region 2022 (USD Billion)

AI Camera Market Share by Region

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's AI Camera market accounts for the second-largest market share due to increasingly adopting A.I. camera solutions to enhance security, optimize operations, and improve customer experiences. Additionally, the German artificial intelligence camera market had the biggest market share, while the artificial intelligence camera market in the United Kingdom had the quickest rate of growth in the region of Europe.

From 2023 to 2032, the Artificial Intelligence (AI) Camera Market in Asia-Pacific is anticipated to experience the quickest CAGR growth. The adoption of AI cameras in the area is being accelerated by growing awareness of the potential benefits of AI, as well as improvements in machine learning algorithms and cloud computing. Moreover, China’s Artificial Intelligence (AI) Camera market witnessed the largest market share, and the Indian Artificial Intelligence (AI) Camera market was the fastest-growing market in the Asia-Pacific region.

AI Camera Key Market Players & Competitive Insights

Leading market players are spending a lot of money on research and development to expand their selection of goods, which is causing the market for artificial intelligence cameras to grow even more. Market participants are also engaging in various strategic initiatives to expand their presence globally. These endeavors include introducing new products, forming contractual agreements, merging with, or acquiring other companies, increasing investments, and collaborating with other organizations for market developments. The Artificial Intelligence (AI) Camera sector must guarantee the availability of affordable products if it is to survive in a market environment that is becoming more competitive.

Manufacturers in the global AI Camera industry employ the strategic approach of local manufacturing to reduce operational expenses. This enables them to serve clients more effectively and expand their market share. The healthcare sector, in particular, has greatly benefited from the numerous advantages offered by the Artificial Intelligence (AI) Camera industry. Major players in the Artificial Intelligence (AI) Camera market, including Axis Communications AB, Bosch Security Systems Inc, Canon Inc. from Japan and Panasonic System Networks Co., Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell Security Group, Sony Electronics Ltd., Zhejiang Dahua Technology Co., Ltd., and Vivotek Inc.

Hikvision, a prominent global provider of video surveillance solutions, was established in 2001 and is headquartered in Hangzhou, China. The company specializes in the development and production of CCTV systems, encompassing cameras, digital video recorders (DVRs), and network video recorders (NVRs). Additionally, Hikvision offers cutting-edge software platforms and advanced technologies, including artificial intelligence and deep learning, for a huge range of applications such as security and surveillance, traffic management, and industrial automation. The company's commitment to research and development has propelled them to the forefront of the video surveillance industry. In August 2022, Hikvision introduced an AI-powered web camera. This web camera boasts various features, including precise autofocus, exceptionally high resolution, and built-in microphones. By incorporating A.I. technology, Hikvision aimed to enhance human representation in images and produce more natural-looking frames. These features contribute to the convenience, versatility, enjoyment, and reassurance of virtual online video scenarios.

Microsoft Corporation, headquartered in Redmond, Washington, is a multinational technology company. Bill Gates and Paul Allen founded Microsoft in 1975, and it has since become one of the world's largest and most influential technology companies. Microsoft operates in various sectors of the technology industry, including software development, cloud computing, hardware manufacturing, and digital services. One of Microsoft's most well-known products is its operating system, Windows, which is widely used on personal computers worldwide. In March 2022, Microsoft Corporation introduced an AI-powered Smart Camera for the Surface Hub 2, designed specifically for businesses. This new camera enhances businesses' A.I. capabilities, offering features such as automatic reframing, a wide field of view, and image recognition that contribute to improved meetings.

Key Companies in the AI Camera Market Include

  • Axis Communications AB (Sweden)

  • Bosch Security Systems Inc. (U.S.)

  • Canon Inc. (Japan)

  • Panasonic System Networks Co., Ltd. (Japan)

  • FLIR Systems Inc. (U.S.)

  • Hangzhou Hikvision Digital Technology Co., Ltd. (China)

  • Honeywell Security Group (U.S.)

  • Sony Electronics Ltd. (Japan)

  • Zhejiang Dahua Technology Co., Ltd. (China)

  • Vivotek Inc. (Taiwan)

 AI Camera Industry Developments

July 2022: Hikvision has introduced advanced bullet networking cameras called DeepinView, which utilize Al-based TandemVu technology. TandemVu is a bullet camera powered by Al that can monitor close-ups and large scene details simultaneously.

June 2021: Canon Inc., a camera manufacturer headquartered in China, has recently introduced Al-based cameras equipped with emotion recognition technology. These cutting-edge devices effectively detect emotions within office environments, enabling the monitoring of employee happiness levels and stress levels.

January 2021: Axis Communications AB recently introduced the AI-powered Dome Camera AXIS P3255-LVE. This cutting-edge device incorporates advanced analytics and deep learning technology. With its state-of-the-art dual chipsets, these fixed dome cameras provide precise object classification capabilities.

AI Camera Market Segmentation

AI Camera Technology Outlook

  • Image/Face Recognition

  • Computer Vision

  • Emotion Recognition

  • DSLR Cameras

  • Network Cameras

  • Security Cameras

  • Others

AI Camera End-user Outlook

  • BFSI

  • Healthcare

  • Automotive

  • Consumer Electronics

  • Retail

  • Government

  • Logistics & Transportation

  • Military and Defense

  • Commercial Spaces

  • Media and Entertainment

  • Others

Artificial Intelligence (AI) Camera Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2022 USD 7.9 Billion
Market Size 2023 USD 9.085 Billion
Market Size 2032 USD 27.79122 Billion
Compound Annual Growth Rate (CAGR) 15.00% (2024-2032)
Base Year 2022
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Technology, End-user, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered Axis Communications AB, Bosch Security Systems Inc, Canon Inc. from Japan and Panasonic System Networks Co., Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell Security Group, Sony Electronics Ltd., Zhejiang Dahua Technology Co., Ltd., and Vivotek Inc
Key Companies Profiled Samsung Electronics, Sony Corporation, Xiaomi Inc, Honeywell International, Canon Inc, Nikon Corporation, Huawei Technology Co Ltd. LG Electronics, Google LLC, HikVision, Apple Inc, Fujitsu Ltd, Huddly AS
Key Market Opportunities Growing advancements in AI technology by major players, Growing demand for enhanced security functions
Key Market Dynamics Modernization and growing marketing strategies

Frequently Asked Questions (FAQ) :

The market size for AI Cameras on a global scale was valued at $7.9 billion in the year 2022.

The global market is projected to expand at a CAGR of 15.00% from 2024 to 2032.

North America witnessed the largest share of the global market.

The major players in the market are Axis Communications AB, Bosch Security Systems Inc, Canon Inc. from Japan and Panasonic System Networks Co., Ltd., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell Security Group.

The image/face recognition category dominated the market in 2022.

Retail had the largest share of the global market.

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