AI Camera Market to expand at a CAGR of 15% by 2032

In 2022, the AI camera market was estimated to be worth USD 7.9 billion. The Artificial Intelligence (AI) Camera market is expected to expand at a compound annual growth rate (CAGR) of 15.00% between 2023 and 2032, from USD 9.085 billion in 2023 to USD 27.79122 billion by 2032. Leading organisations are always developing their A.I. technologies. Better security features are becoming more and more necessary, and companies are embracing more contemporary marketing techniques as the main factors driving the market’s expansion.

Major players in the Artificial Intelligence (AI) Camera market, including,

• Axis Communications AB,
• Bosch Security Systems Inc,
• Canon Inc.
• Panasonic System Networks Co., Ltd.,
• FLIR Systems Inc.,
• Hangzhou Hikvision Digital Technology Co., Ltd.,
• Honeywell Security Group,
• Sony Electronics Ltd.,
• Zhejiang Dahua Technology Co., Ltd.,
• Vivotek Inc.

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These days, cameras driven by AI come with sophisticated functions like object identification, facial recognition, and behavioural analysis. These cameras are extremely useful for security applications since they can not only recognise and identify people but also understand their behaviour.

The need for more proactive and intelligent surveillance systems to improve the general security and safety of a variety of settings, including public areas, commercial buildings, and smart homes, is what is driving this development. The market CAGR is driven by this aspect. With the help of these cameras, businesses can better understand the demographics, preferences, and dwell periods of their customers. This information helps them design targeted marketing efforts, optimise shop layouts, and improve the entire customer experience. A.I. cameras’ ability to enable data-driven decision-making is transforming the retail industry and empowering companies to remain competitive and adaptable to shifting customer needs.

Applications for remote monitoring and healthcare settings are increasingly using A.I. cameras. These cameras have the ability to track patients’ vital signs, identify falls or strange behaviour, and instantly notify carers or medical professionals.

The need for artificial intelligence (AI) cameras for telemedicine and remote patient monitoring has increased as a result of the ongoing worldwide health issues. These cameras can properly monitor patient states thanks to AI algorithms, which helps healthcare personnel and ensures prompt actions.

Market Segmentation

Based on technology, the Artificial Intelligence (AI) Camera Market is segmented into categories such as DSLR Cameras, Network Cameras, Security Cameras, Computer Vision, Emotion Recognition, and Image/Face Recognition. The image/face recognition category, which accounts for around 45% of the market, is the biggest.

Based on end-users, BFSI, Healthcare, Automotive, Consumer Electronics, Retail, Government, Logistics and Transportation, Military and Defence, Commercial Spaces, Media and Entertainment, and Others are included in the market segmentation of AI cameras. The retail segment makes up around 30% of the total market share for end users.

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The artificial intelligence (AI) camera market in North America will dominate this industry. The region has a robust technological base and a rapid adoption rate for state-of-the-art developments such as artificial intelligence and computer vision. Increased market growth in this sector will be fueled by worries about maintaining public safety, combating crime, and protecting important infrastructure. The Asia-Pacific Artificial Intelligence (AI) Camera Market is projected to expand at the fastest rate of compound annual growth (CAGR) between 2023 and 2032. The area’s adoption of AI cameras is speeding up due to advancements in cloud computing and machine learning algorithms, as well as a greater awareness of the potential advantages of AI. The Artificial Intelligence (AI) Camera market in China held the biggest market share, while the AI Camera market in India had the quickest growth rate in the Asia-Pacific area.

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