AI Camera Market by Offering (Image Sensor, AI Processor, Memory), Technology (Deep Learning, Computer Vision, Speech Processing), Product (Smartphone, DSLR, CCTV), Biometrics (Image, Face, Voice, OCR), Connectivity and Region – Global Forecast to 2028
The global AI camera market is expected to be valued at USD 7.6 billion in 2023 and is expected to reach USD 22.1 billion by 2028, growing at a CAGR of 23.9% from 2023 to 2028. Convergence of AI technology, falling costs, and a wide range of practical applications have driven the growth of the AI camera market.
Market dynamics of AI cameras
Driver: Increasing demand for surveillance solutions
The increasing need for advanced surveillance and security systems in various sectors, including commercial, industrial and residential, is driving the use of AI cameras. The industrial sector is increasingly adopting AI cameras to improve efficiency and safety.
Industries such as manufacturing and logistics use AI cameras for quality control, safety monitoring and process optimization. These cameras can detect product defects on assembly lines or monitor compliance with occupational safety.
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Opportunity: Integration of AI cameras in healthcare
The healthcare industry is undergoing a transformative shift towards digitalization and automation. AI cameras equipped with advanced computer vision capabilities will play a critical role in this shift by improving patient care, optimizing processes, and improving overall health outcomes.
AI cameras can provide high-resolution video and audio for telemedicine consultations, improving the quality of remote healthcare interactions. AI cameras can capture high-resolution images of skin conditions and wounds, assisting dermatologists and wound care specialists in diagnosis and treatment planning.
The AI cameras with processor offerings market is expected to exhibit the highest compound annual growth rate during the forecast period.
The growth of processor offerings in the AI camera market is driven by several key factors that underscore the critical role of high-performance processors in enabling advanced AI capabilities and real-time processing. AI-powered cameras are performing increasingly complex tasks, such as object detection, facial recognition, natural language processing, and scene analysis.
These tasks require powerful processors that can handle the computational load efficiently.
The AI cameras for natural language processing technology market is expected to witness the second highest compound annual growth rate during the forecast period.
Integrating NLP technology into AI cameras improves their functionality, accessibility, and usability across various industries and applications. By using natural language, NLP technology enables AI cameras to understand and respond to human commands and requests.
This improves usability and accessibility, allowing users to control and adjust camera features more intuitively. Using NLP technology, AI cameras can personalize interactions based on user preferences and behavior.
This may include tailoring recommendations, settings and responses to individual users.
The AI cameras market for end-users in security and surveillance will hold the highest market share during the forecast period.
The growth of the AI cameras for security and surveillance market is driven by the increasing need for advanced security solutions, the increasing complexity of security threats, and the potential of AI technology to significantly improve the effectiveness of surveillance systems. AI-powered cameras can detect and identify security threats such as intruders, unauthorized access, and suspicious behavior with high accuracy.
This feature enhances proactive security measures. AI technology enables video analytics for detailed analysis of surveillance footage.
These include facial recognition, object recognition, license plate recognition and even behavioral analysis, improving the effectiveness of security systems.
The AI camera market for CCTV cameras is expected to hold the highest market share during the forecast period.
The need for increased security measures in public and private spaces has led to the introduction of CCTV AI cameras. These cameras offer advanced threat detection, facial recognition and real-time alerts, thus enhancing security capabilities.
Many organizations can easily integrate AI-powered CCTV cameras into their existing surveillance systems, improving capabilities without significant infrastructure changes. The growth of the CCTV AI cameras market is driven by the critical role these cameras play in improving security, reducing crime, and providing valuable data for decision-making.
In the development and testing of autonomous vehicles in North America, AI cameras are being used for object detection, lane tracking, and obstacle avoidance, which is contributing to the growth of the AI camera market in the automotive industry.
The AI cameras market in North America is expected to witness the second highest CAGR during the forecast period.
The need for advanced security and surveillance solutions is a key driver of the AI camera market in North America. Businesses, government agencies and private users are investing in AI cameras to improve security, prevent crime and monitor property.
North American cities and municipalities are investing in smart city initiatives that integrate AI cameras for traffic management, public safety, environmental monitoring and urban planning. Retailers in North America are using AI cameras to prevent theft and fraud by identifying shoplifting and monitoring suspicious activity in real time.
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The AI cameras market includes major Tier I and Tier II players such as Sony Group Corporation (Japan), Panasonic Corporation (Japan), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Samsung (South Korea), Axis Communications AB (Sweden) and others.
These players have a strong AI camera market presence in various countries across North America, Europe, Asia Pacific, and the rest of the world.
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