Artificial Intelligence (AI) Camera Market Size to Reach US$ 13.96 Billion By 2028

According to the latest report by IMARC Group, titled, “Artificial Intelligence (AI) Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, 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.

Artificial intelligence (AI) camera represents specialized camera systems equipped with cutting-edge technology and embedded with artificial intelligence (AI) for performing various functions beyond traditional cameras. These cameras leverage machine learning (ML) and computer vision algorithms to improve their capabilities, including image and facial recognition, object detection, emotion analysis, monitoring and surveillance, and movement detection. Unlike regular cameras that simply record images or videos, AI cameras can interpret and process visual data by comparing it with existing databases and other sources. They also utilize sensors to analyze photos and determine optimal settings for capturing images. As a result, AI cameras find widespread applications across numerous sectors, including law enforcement, consumer electronics, retail, etc.

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Artificial Intelligence (AI) Camera Market Trends and Drivers:

The artificial intelligence (AI) camera market is primarily driven by the inflating demand for technologically advanced surveillance systems and the growing concerns regarding safety and security across the globe. Besides this, the rising adoption of AI-based CCTV cameras to enable real-time monitoring of unusual or suspicious activity and enhance threat analysis, allowing businesses to make informed decisions, is acting as another significant growth-inducing factor. Moreover, the rising criminal and terrorist activities and the emerging trend of smart homes are further catalyzing the global market. Additionally, the escalating integration of state-of-the-art camera features in smartphones, such as optical or image stabilization, larger sensors, bright lenses, and better optical zoom, is also positively influencing the global market. Apart from this, the rising expenditure of Government bodies in sophisticated surveillance systems for enhanced security, cost-effectiveness, flexibility, and faster data acquisition and the development of smart city projects are expected to bolster the artificial intelligence (AI) camera market in the coming years.

Artificial Intelligence (AI) Camera Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• 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.

The report has segmented the market based on technology and end user.

Technology Insights:

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

End User Insights:

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

Breakup by Region:

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

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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