Artificial Intelligence (AI) Camera Market

Global Artificial Intelligence (AI) Camera Market:

The global artificial intelligence (AI) camera market size reached US$ 6.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.1 Billion by 2032, exhibiting a growth rate (CAGR) of 14.4% during 2024-2032. The growing concerns regarding safety and security, rising adoption of AI-powered CCTV cameras, augmenting sales of premium feature-rich smartphones, and increasing product applications in traffic monitoring and homeland security, represent some of the key factors driving the market.

Artificial Intelligence (AI) Camera Market Analysis:

• Major Market Drivers: With the growing concerns regarding safety and security across the globe, there is a surge in demand for technologically advanced surveillance systems, thereby driving the AI camera market growth. Moreover, the rising adoption of AI CCTV cameras in the residential and commercial sector, government offices, banks, traffic monitoring, and other high-risk areas are proliferating the market demand.
• Key Market Trends: The increasing criminal and terrorist activities worldwide and the advent of smart homes are major factors supporting the market growth. In addition to this, the advent of 5G technology, the rising incorporation of AI cameras in smart devices, rapid urbanization, inflating consumer expenditure capacities, advancements in big data, and the development of smart city projects, are also creating a favorable market outlook.
• Competitive Landscape: Some of the prominent artificial intelligence (AI) camera market companies include Avigilon Corporation, Canon Inc., Eagle Eye Networks, Hangzhou Hikvision Digital Technology Co. Ltd, Hanwha Vision Co. Ltd. (Hanwha Aerospace Co. Ltd.), Honeywell International Inc., Huddly AS, Mobotix AG, and Zhejiang Dahua Technology Co. Ltd., among many others.
• Geographical Trends: According to the artificial intelligence (AI) camera market dynamics, Asia Pacific exhibits a clear dominance in the market. Rapid urbanization and the development of smart cities in the Asia-Pacific are increasing the need for advanced security solutions. AI cameras play a crucial role in urban management, surveillance, and public safety.
• Challenges and Opportunities: High initial costs associated with AI cameras, and data privacy and security concerns are hampering the market growth. However, ongoing advancements in AI and machine learning continue to improve the capabilities of AI cameras, including better image recognition, real-time analytics, and adaptive learning.
   

Artificial Intelligence (AI) Camera Market Trends:

Increasing Adoption of Smartphones

The increasing adoption of smartphones is driving the market's growth. For instance, in 2023, the global smartphone penetration rate was expected to reach 69%, up from 2022 levels. This is based on an anticipated 6.7 billion smartphone subscriptions worldwide and a global population of approximately 7.4 billion. AI cameras are increasingly integrated into smartphones, tablets, and other consumer devices, enhancing features like photography, video recording, and augmented reality (AR). This is further boosting the artificial intelligence (AI) camera systems market revenue.

Rapid Urbanization

Rapid urbanization leads to more densely populated areas and increased infrastructure complexity, which necessitates advanced surveillance solutions. 56% of the world's population (4.4 billion people) lives in cities. This trend is likely to continue, with the urban population more than doubling by 2050, when nearly seven in ten people will live in cities. AI cameras help manage and monitor urban environments more effectively. These factors further positively influence the artificial intelligence (AI) camera market forecast.

Rising Demand for Advanced Video Surveillance Solutions

The rising concerns about crime and security breaches in public and private spaces drive the demand for advanced video surveillance solutions. For instance, according to IMARC, the global video surveillance systems market size reached US$ 65.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 213.0 Billion by 2032, exhibiting a growth rate (CAGR) of 13.7% during 2024-2032. AI cameras offer sophisticated capabilities for detecting and analyzing suspicious activities, enhancing overall security. These factors are expected to propel the artificial intelligence (AI) camera market in the coming years.

Global Artificial Intelligence (AI) Camera Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global artificial intelligence (AI) camera market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on technology and end user.

Breakup by Technology: 

• Image/Face Recognition
• Computer Vision
• Emotion Recognition
• Network Cameras
• Security Cameras
• Others
   

The report has provided a detailed breakup and analysis of the artificial intelligence (AI) camera market based on technology. This includes image/face recognition, computer vision, emotion recognition, network cameras, security cameras, and others.

According to the artificial intelligence (AI) camera market outlook, the need for advanced security and access control systems drives the adoption of face recognition technology. It is widely used in public places, airports, and secure facilities to identify individuals and prevent unauthorized access. Moreover, computer vision technology enables automation in various industries, including manufacturing, logistics, and agriculture. Apart from this, emotion recognition technology helps businesses understand customer sentiments and preferences, enabling more effective marketing strategies and personalized customer interactions. Furthermore, the demand for network cameras is driven by the need for remote monitoring and surveillance in both residential and commercial settings. Network cameras provide real-time access to video feeds over the internet.

Breakup by End User: 

• BFSI
• Healthcare
• Automotive
• Retail
• Government
• Logistics and Transportation
• Military and Defense
• Commercial Spaces
• Media and Entertainment
• Others
   

A detailed breakup and analysis of the artificial intelligence (AI) camera market based on the end user has also been provided in the report. This includes BFSI, healthcare, automotive, retail, government, logistics and transportation, military and defense, commercial spaces, media and entertainment, and others.

According to the artificial intelligence (AI) camera market overview, AI cameras improve security in banking and financial institutions by enabling advanced surveillance and fraud detection. Features such as facial recognition and behavior analysis help in identifying potential threats and preventing unauthorized access. Moreover, AI cameras enable remote monitoring of patients, allowing healthcare providers to track vital signs and behaviors in real-time, improving patient care and response times. Apart from this, AI cameras are integral to ADAS, providing features like lane-keeping assistance, adaptive cruise control, and collision avoidance, which enhance vehicle safety and driving experience.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific accounts for the largest market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for artificial intelligence (AI) cameras.

According to the artificial intelligence (AI) camera market statistics, some of the factors driving the Asia Pacific artificial intelligence (AI) camera market included its increasing spending on advanced surveillance products, growing concerns regarding safety and security among the masses, ongoing technological innovations, etc. The integration of AI and machine learning algorithms enhances the capabilities of cameras, including advanced image recognition, real-time analytics, and improved accuracy. Innovations in these areas drive the adoption of AI cameras. Many APAC countries are investing in smart city initiatives that include the deployment of AI cameras for traffic management, public safety, and urban infrastructure monitoring. For instance, in January 2024, the Delhi government planned to install AI cameras in the national capital to detect traffic offenses and improve road safety.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: 

• Avigilon Corporation
• Canon Inc.
• Eagle Eye Networks
• Hangzhou Hikvision Digital Technology Co. Ltd
• Hanwha Vision Co. Ltd. (Hanwha Aerospace Co. Ltd.)
• Honeywell International Inc.
• Huddly AS
• Mobotix AG
• Zhejiang Dahua Technology Co. Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Artificial Intelligence (AI) Camera Market Recent Developments:

• July 2024: Infinix collaborated with Samsung Electronics to introduce the 108-megapixel AI-Powered Advanced Deep Learning Algorithm (AIADLA), which improves smartphone photography by utilizing Samsung's ISOCELL image sensor hardware remosaic technology.
• July 2024: ReelData launched ReelVision, a camera designed for AI applications in aquaculture, such as behavioral analysis, feeding rates, and fish health and wellbeing.
• January 2024: The Delhi government planned to install AI cameras in the national capital to detect traffic offenses and improve road safety.

Artificial Intelligence (AI) Camera Market Report Scope:

Key Questions Answered in This Report:

• How has the global artificial intelligence (AI) camera market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global artificial intelligence (AI) camera market?
• What is the impact of each driver, restraint, and opportunity on the global artificial intelligence (AI) camera market?
• What are the key regional markets?
• Which countries represent the most attractive artificial intelligence (AI) camera market?
• What is the breakup of the market based on technology?
• Which is the most attractive technology in the artificial intelligence (AI) camera market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the artificial intelligence (AI) camera market?
• What is the competitive structure of the global artificial intelligence (AI) camera market?
• Who are the key players/companies in the global artificial intelligence (AI) camera market?

Key Benefits for Stakeholders:

• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the artificial intelligence (AI) camera market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global artificial intelligence (AI) camera market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the artificial intelligence (AI) camera industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.