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Global AI Camera Market will reach USD 71.8 billion by 2032, at a CAGR of 15.20% during the forecast period 2023-2032.

Sep 27, 2023 9:00 PM ET

Global AI Camera Market will reach USD 71.8 billion by 2032, at a CAGR of 15.20% during the forecast period 2023-2032.

The AI camera market is expected to grow rapidly in the coming years. The rising demand for AI cameras from all major industries, including aerospace & defense, BFSI, aviation, and retail, would support the market growth. Market Research Future (MRFR) asserts that the global AI camera market will escalate from USD 20.1 BN in 2022 to USD 71.8 BN by 2032, growing at a 15.20% CAGR throughout the review period (2023-2032).

Major Players

Leading AI camera market players are

  • Sony Corporation
  • Xiaomi Inc.
  • Samsung Electronics
  • Canon Inc.
  • Nikon Corporation,
  • Honeywell International
  • LG Electronics
  • Huawei Technology Co Ltd.
  • Google LLC.
  • HikVision
  • Apple Inc.
  • Huddly AS
  • Fujitsu Ltd., among others. 

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AI cameras are increasingly used in surveillance, consumer electronics, and retail sectors. Moreover, security service providers, installers & integrators, and consultants create vast market demand. Rising applications of AI-based camera solutions for smart motion detection and TIoC range monitoring influence market growth. With rapid developments in imaging technology, the AI camera market is estimated to grow faster over the forecast period.

Today, AI is widely adopted across enterprises to help minimize operations and boost productivity. Advances in audio-video recording technologies, alongside the rising demand for high-definition surveillance devices, boost the AI camera market size. Moreover, rapid developments in big data and the growing AI integration in smart devices substantiate market revenues. 

Advances in analytics would fuel market growth, enabling the development of intelligent surveillance tools affordable for the masses. The growing uptake of AI cameras in government sectors and the growing demand for highly customizable yet affordable video monitoring services that enable operators to monitor more sites from a single location will boost the market share. 

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AI Camera Market – Segments

The market is segmented into types, technologies, and regions. The type segment comprises smartphone cameras, DSLRs, and surveillance cameras. The technology segment comprises image/face recognition, computer vision, voice/speech recognition, and others. The region segment comprises the Americas, Europe, Asia-Pacific, and the rest of the world.

AI Camera Market – Regional Analysis

North America leads the global AI camera market, headed by the strong presence of well-established players. Besides, the increasing AI integration in consumer electronic devices, surveillance systems, and retail & law enforcement sectors boosts the market size. Vast developments in AI technology and AI-enabled cameras boost the size of the regional market. 

AI Camera Market – Competitive Analysis

The AI camera market appears widely expanded and highly competitive due to numerous major players operating at the international and regional levels worldwide. The market will likely witness fierce competition with the expected product, service, and innovation extensions. AI camera manufacturers strive to develop their devices with adept technologies and unrivaled designs & features. 

Industry/ Innovation/ Related News

Jun. 15, 2023 — Motive, a leading provider of automated operation solutions, launched the industry’s first AI-enabled camera, AI Omnicam, for side, rear, passenger, and cargo monitoring requirements. AI Omnicam, with Motive’s AI Dashcam, will empower commercial vehicle operators to monitor their vehicles from all sides.  

The 360° view of a vehicle’s interior, exterior, and all surroundings will help improve road & job site monitoring safety, investigate & combat potentially fraudulent claims, and resolve disputes over transportation & handling of valuable cargo and goods. The AI Omnicam’s intelligence is also applicable across various industries, including trucking & logistics, construction, oil & gas, and passenger transit, among others. 

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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