Smart cameras are devices equipped with advanced features for uploading and sharing photos on social media sites. Advances in machine learning and AI are expected to increase the end result of photos used by these devices. The global smart camera market report by Market Research Future (MRFR) provided an analysis of the various trends and opportunities for the period of 2017 to 2023 (forecast period) and covers the effects of the COVID-19 pandemic on the industry.
Market Scope
The global smart camera market size is expected to grow at a CAGR of 8% to reach USD 2 billion by the end of 2023. The integration of these devices in tablets, PCs, smartphones, and other consumer electronic devices is likely to drive market demand. Its use across industries can catapult its demand in the coming years. For instance, the manufacturing sector employs smart cameras for inspecting the product quality and improving productivity. Establishment of smart homes for providing convenience to home owners through various gadgets and devices can bode well for the market. The use of smart cameras for increasing the security of homes as well as being used for screening strangers can propel the market demand throughout the forecast period. Adoption of automation systems, growth in semiconductor and electronics industries, and strides in camera technology can drive the market as well.
But high costs of cameras and lack of technical skill can impede market growth.
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Segmentation
The global smart camera market size has been classified on the basis of type, sensor type, scanning, type connectivity, application, and region.
On the basis of type, the global smart cameras market has been segmented into stand-alone, single-chip, embedded, PC, and network-based. The stand-alone segment accounted for the largest market share in 2020 and is estimated to register a CAGR of 9.51% during the review period. Computer vision-based approaches are very useful in dynamic displacement measurement, damage detection, and structural health monitoring. Single-chip cameras can be used as a simple, cheap solution for colored tasks. They are capable of providing essentially more information with 3 * 8 bits RGB. A large number of color camera versions are available on the market, providing reasonable color quality.
By sensor type, the smart cameras market has been bifurcated into CMOS and CCD. A complementary metal-oxide-semiconductor (CMOS) image sensor has a photodiode and a CMOS transistor switch for each pixel, allowing the pixel signals to be amplified individually. A charge-coupled device (CCD) image sensor has an array of capacitors, each carrying an electric charge corresponding to the light intensity of a pixel.
By scanning type, the smart cameras market has been bifurcated into area scan, line scan. Area scan cameras are based on rectangular sensors. Their pixels are all exposed at the same time and then convert photons into electric signals. Line scan cameras record an endless image one line at a time, at frequencies of ten thousand pictures per second, which are put together by software.
By application, the global smart cameras market is segmented into surveillance & security, inspection and quality assurance, automated sorting, transportation & logistics, biometrics and access control, and guidance/machine vision. Smart camera surveillance system benefits banking enterprises on a vast scale some of them include proactive security, centralized monitoring and control, and cost-saving on bandwidth and storage. Cameras are widely used in food sorting applications to sort vegetables & fruits, dried fruits & nuts, cereals, grains, and pulses. Smart camera solutions are used to create facial recognition quickly, people tracking, employee management, and visitor identification applications that estimate emotions, behavior, and anti-spoofing.
Based on connectivity, the global market is segmented into Bluetooth, Wi-Fi, and Wireless HART. Wi-Fi-connected devices provide various benefits for controlling several homes and office security through smartphones. The Bluetooth speaker camera is powered from the mains for 24/7 around-the-clock surveillance. Security camera uses the same level of security as a bulb or a sensor.
Regional Segmentation
The geographical analysis of Europe, North America, Asia Pacific, and RoW has been performed. As per the analysis, the APAC is likely to reign the global smart camera by acquiring the maximum market share in the region. The developing countries of APAC, such as Taiwan, China, Japan, and the Republic of Korea, are making a significant contribution to the market. It is accredited to a large number of suppliers of electronics components, manufacturers, and semiconductors are enhancing the market to expand significantly. Europe is likely to have a considerable growth of the smart camera market due to the increasing demand for security and surveillance in public places. The North American region is likely to expand due to the presence of developed nations like Canada and the U.S. It is likely to expand considerably during the review period.
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Competitive Outlook
Raptor Photonics Ltd., Olympus Corporation, Panasonic Corporation, Bosch Security Systems, Inc., Nikon Corporation, Canon Inc., Polaroid Corporation, Sony Corporation, Watec Cameras Inc., Flir Systems, Inc., and Samsung Electronics Co. Ltd. are key players of the global smart camera market.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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