Wilmington, Delaware, United States, Transparency Market Research Inc. -, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The global artificial intelligence (AI) camera market (인공지능(AI) 카메라 시장) was projected to attain US$ 7.8 billion in 2023. It is likely to garner a 14.1% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 33.5 billion.
Artificial Intelligence (AI) has revolutionized image processing in smartphones, cars, and Internet of Things (IoT) devices. It has improved the processing, restoring, enhancing, analyzing, searching, and sharing capabilities of cameras and other imaging systems.
AI sensors and processors with extensive processing and memory capacity are combined into AI cameras. These characteristics enable significantly quicker operation of these cameras. AI cameras are also safer and use less energy.
AI cameras can execute regular chores. They are also able to recognize different places and things. AI enables a camera to take pictures and make automated settings adjustments to improve the quality of the photographs.
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Key Findings of the Market Report
- Manufacturers of smartphones are starting to include AI in their cameras. These cameras use AI to recognize different things and places. They enhance several facets of photography and cinematography, including editing and modifying shooting conditions. This enables people to take stunning pictures devoid of any visual flaws.
- Samsung Electronics Co., Ltd. introduced the Galaxy A55 5G and Galaxy A35 5G smartphones to the Indian market in March 2023. AI-enhanced camera functions are available on the new A series handsets. The introduction of these smartphones is changing the dynamics of the artificial intelligence (AI) photography industry.
- AI-enabled surveillance equipment can make it easier to profile and follow people's travels, activities, and behaviors in-depth. Artificial intelligence (AI) in surveillance technologies presents opportunities for customized advertising and marketing.
Market Trends for Artificial Intelligence (AI) Cameras
- AI-powered thermal cameras with high-performance photography and temperature sensing can improve basic security. These cameras are used in manufacturing, power plants, and the oil and gas industry.
- An increase is aiding the research and development of AI-powered thermal cameras in attention to the monitoring of industrial materials and equipment.
- The Center for Development and Advanced Computing (C-DAC) and Norden Communication, a U.K.-based supplier of surveillance equipment, joined up in February 2024 to create AI-powered general-purpose thermal cameras. These cameras are meant for use in various industrial applications as well as security.
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Global Market for Artificial Intelligence (AI) Camera: Regional Outlook
- Asia Pacific held the greatest proportion of the artificial intelligence (AI) camera market in 2023, according to the most recent industry trends. The region's market statistics are driven by the increasing use of AI-powered surveillance systems in the public sector and the rising penetration of smartphones. By 2032, 20% of global shipments are anticipated to come from India, per a Morgan Stanley estimate.
- The growing need for AI-powered monitoring systems is driving the artificial intelligence (AI) camera market in North America, according to the most recent research of the market.
- ALERTCalifornia, a new monitoring system that use AI to examine live feeds from cameras positioned in fire-prone locations, was implemented by the California fire department in 2023. Disasters can be avoided with the help of this approach.
Global Artificial Intelligence (AI) Camera Market: Competitive Landscape
To grow their market share in artificial intelligence (AI) cameras, leading companies are investing on research and development of new features. In order to provide improved monitoring in harsh conditions like fog or smoke, they are combining AI cameras with thermal imaging, which successfully prevents mishaps. The following companies are well-known participants in the global artificial intelligence (AI) camera market:
- AV Costar
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Canon Inc.
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Honeywell International Inc.
- Huawei Technologies Co. Ltd.
- Huddly Inc.
- Johnson Controls
- LG Corporation
- Nikon Corporation
- Panasonic Holdings Corporation
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Teledyne FLIR LLC
Key developments by the players in this market are:
- The vision solutions supplier Hanwha Vision introduced advanced radiometric thermal cameras with AI power in January 2024. These next-generation security gadgets combine temperature sensing, high-performance photography, and state-of-the-art AI without sacrificing fundamental security.
- A new AI-powered PTZ camera series called 1 Beyond was introduced in January 2024 by video conferencing solutions supplier Crestron. It consists of four new cameras, each with sophisticated optical zoom technology to maintain pixel quality and image integrity.
Global Artificial Intelligence (AI) Camera Market Segmentation
By Offering
- Hardware
- Image Sensor
- Processor
- Memory and Storage
- Others
- Software
- Services
By Technology
- Image/Face Recognition
- Computer Vision
- Motion Detection
- Night Vision
- Others
By Product Type
- Compact Cameras
- DSLR Cameras
- CCTV Cameras
- Dome Cameras
- Bullet Cameras
- Turret Cameras
- Fisheye Cameras
- PTZ Cameras
- Others (Miniature Cameras, Panoramic Cameras, etc.)
By Deployment
- Indoor
- Outdoor
By Application
- Intrusion Detection
- Smart Farming
- Automated Sports Broadcasting
- Traffic Management
- People Counting
- Fall Detection
- Hard Hat Detection
- Automatic Number-plate Recognition (ANPR)
By End User
- Residential
- Commercial
- Office Buildings
- Retail Stores
- Towns
- Airports/Railways
- Highways
- Others (Schools, Hospitals, etc.)
- Industrial
- Automotive
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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