Global AI Camera Market by Offering (Image Sensor, AI Processor, Memory), Technology (Deep Learning, Computer Vision, Language Processing), Product (Smartphone, DSLR, CCTV), Biometric (Image, Facial, Speech, OCR), Connectivity & Region - Forecast to 2028

Increasing Number of Smart Cities Presents Lucrative Business Opportunities

The global AI camera market is expected to be valued at USD 7.6 billion in 2023 and is projected to reach USD 22.1 billion by 2028; it is expected to grow at a CAGR of 23.9% from 2023 to 2028. The rising need for enhanced surveillance and security solutions in various sectors such as public safety, retail, and industrial settings is driving the adoption of AI cameras. These cameras offer real-time monitoring and automated threat detection capabilities. AI cameras generate vast amounts of data. Companies are leveraging this data for actionable insights, which can be used to optimize operations, improve customer experiences, and drive business growth.

Image Sensor offering segment to account for second largest market share of AI camera market

The expanding use of artificial intelligence (AI) in various industries, including autonomous vehicles, robotics, healthcare, surveillance, and consumer electronics, has led to a growing need for high-quality image sensors. These sensors are essential for capturing visual data that AI algorithms can analyze and interpret. Image sensors equipped with AI capabilities allow for real-time data processing at the edge, reducing latency and enhancing responsiveness. Image sensors are incorporating advanced image processing features, such as noise reduction, HDR (High Dynamic Range), and computational photography techniques. These enhancements improve the quality of images captured by AI cameras, making them more valuable for analysis.

Automotive end-user to account for the highest CAGR growth of AI camera market

The development and deployment of autonomous vehicles heavily rely on AI cameras for perception and object recognition. AI cameras provide crucial data for autonomous driving systems to make real-time decisions, leading to the growth of this market segment. The cost of AI camera sensors has been decreasing, making them more affordable for automakers to integrate into their vehicles. This cost reduction has driven wider adoption across different vehicle segments. The integration of AI cameras into vehicles is a fundamental component of ADAS, which includes features like lane-keeping assistance, adaptive cruise control, and automated emergency braking. These systems enhance vehicle safety and driver convenience, driving the demand for AI cameras.

Asia-Pacific to have the highest CAGR for AI camera market

Asia-Pacific countries are investing in smart transportation systems, including intelligent traffic management and autonomous vehicles. AI cameras are essential for traffic monitoring, congestion management, and enhancing road safety. Some governments in Asia-Pacific are promoting the adoption of AI technology, including AI cameras, through initiatives and policies. These initiatives drive innovation and investment in the AI camera market. The growth of the AI camera market in the Asia-Pacific region is driven by a combination of technological innovation, rising consumer demand, government initiatives, and the adoption of AI across various industries, making it one of the fastest-growing regions for AI camera adoption.

Breakup of Primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type: Tier 1 - 10%, Tier 2 - 55%, and Tier 3 - 35%
• By Designation: C-level Executives - 45%, Directors - 25%, and Others - 30%
• By Region: North America - 55%, Europe - 20%, Asia-Pacific - 15%, and RoW - 10%

The key players operating in the AI camera market are Sony Group Corporation (Japan), Panasonic Corporation (Japan), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Samsung (South Korea), Axis Communications AB (Sweden).

Research Coverage

The research report categorizes the AI Camera Market, By Offering (Image Sensor, Processor, Memory & Storage, Software), Technology (Deep Learning, Natural Language Processsing, Computer Vision, Context-Aware Computing), Product Type (Compact Cameras, DSLR Cameras, CCTV Cameras, 360 Degree Cameras), Connectivity (Wired and Wireless), Biometric Method (Image Recognition, Facial Recogntion, Voice/Speech Recognition, Optical Character Recognition), End-user (Consumer Electronics, Security & Surveillance, Automotive, Robotics, Medical, and Others), and Region (North America, Europe, Asia-Pacific, and RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the AI camera market. A detailed analysis of the key industry players has been done to provide insights into their business overviews, products, key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the AI camera market. Competitive analysis of upcoming startups in the AI camera market ecosystem is covered in this report.

Key Benefits of Buying the Report

• Analysis of key drivers (Rising Demand for surveillance solutions, Integration with IoT (Internet of Things), Wide applications in retail analytics, The increasing demand for enhanced video analytics), restraints (Significant upfront investment, Concern regarding data security), opportunities (The increase in the number of smart cities, Potential to enhance industrial automation, Integration of AI cameras in healthcare), and challenges (Privacy concerns in AI camera, Lack of standardization) influencing the growth of the AI camera market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the AI camera market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the AI camera market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the AI camera market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like AI camera market are Sony Group Corporation (Japan), Panasonic Corporation (Japan), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Samsung (South Korea), Axis Communications AB (Sweden) among others in the AI camera market.