AI Camera Market Size, Share & Segmentation, By Type (Smartphone Cameras, Surveillance Cameras, DSLRs), By Technology (Image/Face Recognition, Speech/Voice Recognition, Computer Vision), By Region, and Global Forecast for 2024-2031

AI Camera Market Report Scope & Overview:

The AI Camera Market size was valued at USD 7.71 billion in 2023 and is expected to grow to USD 41.8 billion by 2031 and grow at a CAGR of 23.5 % over the forecast period of 2024-2031.

In 2023, the market for surveillance cameras accounted for around 32.0% of total revenue. For the people' safety, the expanding urban population has increased the need for constant surveillance. Additionally, companies are spending money on Al-based security cameras to provide 24/7 protection for their infrastructure and the entire building. With the aid of facial recognition to monitor and analyze crowds and process footage in real time to identify dangers, the Al cameras record photos and videos that are used to develop security policies. These cameras are skilled at carrying out sophisticated analytical tasks like license plate recognition, person detection, face detection, traffic counting, and vehicle and person detection. In 2023, the image/face recognition market accounted for around 31.0% of total revenue. One of these cameras' most popular Al-based features is face or image recognition technology. The quality of portraits and group shots is enhanced since it enables the camera to focus on faces. Some Al cameras have the ability to recognize and give priority to a specific face expression, ensuring that everyone appears their best in the photograph. With the development of this feature, it is now possible to separate subjects from backgrounds and create portrait mode, which simulates a shallow depth of focus. In addition to being a critical component of security cameras, facial recognition also enables face unlock on smartphones.

Get PDF Sample Report on AI Camera Market - Request Sample Report

KEY DRIVERS: 

• Growing focus on smartphones with higher-quality cameras fuels

The Al cameras is being propelled by the spotlight being placed on smartphones' high-quality cameras. Artificial intelligence (AI) technologies are being included into smartphones by manufacturers to recognize photos. Using this technique, the phone recognizes the object and applies a correction filter for a higher-quality image. Low-resolution photos can also be explained by the use of Al cameras in smartphones because the Al-vision engine anticipates missing pixels. High-quality full-display images are now possible. All cameras are also used for device administration, user identification, emotion recognition, and other purposes. With these benefits, the demand for Al cameras in the manufacture of smartphones is rising.

• Rising 5G Smartphone Demand and Expanded 5G Deployment

RESTRAIN:

• Concerns about public security and safety

OPPORTUNITY:

• Demand for technically sophisticated surveillance systems

The proliferation of Al CCTV cameras at traffic signals used by government organizations to detect and identify license plates on moving and stationary cars promotes market expansion. Al-enabled cameras are becoming more prevalent in smartphones and connected devices, creating potential opportunities. Around 20 billion internet-connected devices were present in 2020, and Gartner Inc. projects that number to rise to 41 billion by 2025. Connected smart gadgets have cameras with deep learning, artificial intelligence, and high-resolution integrated in. These cameras incorporate cutting-edge digital technologies like Al, LoT, and others that make it easier.

• Demand for highly advanced cameras

CHALLENGES:

• Technological Advancement and availability of alternative options

IMPACT OF RUSSIAN UKRAINE WAR

Artificial intelligence (Al) is turning out to be a very useful tool in the current confrontation between Russia and Ukraine. To be more precise, it has developed into a crucial data analysis tool that aids operators and warfighters in making sense of the expanding volume and amount of information supplied by multiple systems, smart weapons, and soldiers in the field. A more accurate and capable response to enemy forces, moves, and actions will result from the usage of AI on the current and next battlefields in Ukraine. Government and corporate sector initiatives have made it possible for Ukraine to use this technology in battle. Overall, Ukraine appears to be benefiting more from adopting this technology, while it is still too soon to say whether a technological advantage will translate into meaningful advantages against long-standing adversaries firmly held Russian positions. As of now, Ukraine has been able to keep its Al use human-centered, with operators making the ultimate choices. I believe that strategy is being adopted by Ukraine's Western allies, but their forces still need to after Al's debut in the Russian-Ukrainian conflict, come to an agreement on how to use it.

IMPACT OF ONGOING RECESSION

The future of Al software vendors is questionable amid an economic slowdown, recession fears, and inflation that is roiling the stock market. Despite having raised $300 million the year before, independent Al provider DataRobot cut off around 7% of its workers in May. About 150 employees were let go by Argo Al, an autonomous car startup that partners with Ford and Volkswagen. However, the effects of the economic slump have not yet been felt by all vendors. In the last year, Pecan Al, a provider of a deep learning platform made to help businesses create predictive models, has raised roughly $100 million. The company, which is based in Israel, raised $66 million in its most recent investment round in February. Everyone senses a change of some form, according to Noam Brezis, co-founder and CTO of Pecan.

MARKET SEGMENTATION

By Type

• Smartphone Cameras

• Surveillance Cameras

• DSLRs

By Technology

• Image/Face Recognition

•  Speech/Voice Recognition

•  Computer Vision

 REGIONAL ANALYSIS

Due to the growing demand for Al-based camera systems for smart motion detection, the TloC range, and the most modern technology, the European Al camera market holds the second-largest market share. Additionally, the UK Al camera market grew the fastest, while the German Al camera market had the biggest share market in the continent of Europe from 2024 to 2031, the Asia-Pacific Al Camera Market is anticipated to experience the quickest CAGR growth. Here is the region holds a sizeable market position in the global Al camera security market as a result of the availability of several workforces that are cost-competitive and favourable raw material conditions. Additionally, the Indian Al camera market had the quickest rate of growth and China's Al camera industry had the greatest market share.

In terms of revenue, North America controlled around 36.0% of the market for Al cameras in 2023. This can be explained by the increased preference for smart technology and cutting-edge solutions among consumers in the area. Furthermore, the region is benefiting from the significant presence of numerous important technology firms and producers of Al cameras. Additionally, supportive government programs to incorporate Al into various federal systems and law enforcement endeavours are fostering business expansion potential. The U.S. government announced in 2021 that various federal agencies would use facial recognition technology. As a result, 10 of the 24 agencies that the government evaluated had plans to increase their use of technology by 2023.

Get Customized Report as per your Business Requirement - Request For Customized Report

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS

Some of key players of AI Camera Market are Samsung Electronics, Sony Corporation, Xiaomi Inc, Honewwell International, Canon Inc, Nikon Corporation, Huawei Technology Co Ltd, LG Electronics, HikVision, Apple Inc, Fuitsu Ltd, Huddly AS. And other players are listed in a final report.

Samsung Electronics-Company Financial Analysis

RECENT DEVELOPMENT

• July 2023: The two businesses together unveiled the OV20i platform, a vision inspection solution that combines the ICAM-520 edge Al camera from Advantech with the deep learning engine from Overview. The OV20i platform combines an image sensor with a global shutter from Sony called the IMX296 with advanced white LED lighting, a programmable variable focus lens, and Al computing capabilities. It has an NVIDIA Jetson Xavier NX system on module embedded in it. With cloud-to-edge vision Al technology, it should make factory inspection easier.  

• On June 20, 2023: A camera that uses artificial intelligence to produce photographs was developed by Bim Karmann. The star-nosed mole, which lives underground and can maintain its habitat without light, served as the model for the Paragraphica. Using open APIs, Paragraphica collects information from the site. The location, time of day, weather, and nearby locations are used to construct a paragraph that is used to gather information. The text-to-image algorithm used by the camera subsequently converts the passage into an image.

• The MinMoe Iris Recognition Terminal, which provides a higher level of security in the access control sector, was introduced by Hikvision in September 2022. Each iris has a unique pattern that develops early in human development and is astonishingly consistent throughout a person's lifetime. The iris' intricate details are so varied and intricate that they are almost impossible to recreate. This enables it to precisely identify and distinguish unique people, making it a viable biometric character for authorized access control.