AI Camera Market Size, Share, Opportunities, And Trends By End User (Smartphones And Tablets, CCTV Camera, Digital Camera, Others), By Technology (Image And Face Recognition, Voice And Speech Recognition, Computer Vision, Others), And By Geography - Forecasts From 2023 To 2028

The AI camera market is estimated to grow at a CAGR of 17.75% during the forecast period.

An AI-powered camera is a camera that leverages the capabilities of artificial intelligence (AI) technology to improve and expand its features and performance. Unlike traditional cameras, which capture and store images or video, AI cameras are designed to analyze data in real-time, allowing them to perform various advanced functions. AI cameras are used in various industries, including retail, manufacturing, and security. AI cameras are a powerful tool for businesses looking to optimize their operations and improve their bottom line. By analyzing data in real-time, AI cameras can provide valuable insights into customer behavior, production processes, and security threats, allowing businesses to make more informed decisions and respond quickly to changing conditions.

AI Camera Market Drivers:

• Increasing need for surveillance cameras with improved quality in smartphones- The growing demand for smartphones with improved surveillance cameras is a driver for the AI camera market because it is prompting the development and adoption of AI-powered camera technologies to meet this need. As consumers and businesses seek more advanced smartphone surveillance capabilities, AI cameras are becoming increasingly important in delivering features like facial recognition, object detection, and real-time video analytics.
• Investments by key companies- Investment and funding secured by key companies in the AI camera sector have helped key players improve product offerings, expand their customer base, and improve market penetration. This increased investment and funding enables companies to invest in research and development, improve manufacturing capabilities, and launch marketing campaigns to reach a larger audience. For instance, in November 2022, Spot AI, a startup specializing in cloud-based analytics for security cameras, secured $40 million in a funding round led by Scale Venture Partners. The system developed by Spot AI employs sophisticated algorithms to analyze footage from security cameras, extracting valuable insights related to safety, security, and operational activity. Additionally, in January 2021, Veo Technologies, headquartered in Copenhagen, successfully raised €20m ($24.5m) in a series B funding round. Veo Technologies created a cloud-based subscription service and a video camera that leverages computer vision software to select games' highlights automatically. These highlights are then stored on a platform that customers can access and share. The new funding was utilized to expand its business in the US and advance the technology's capabilities. The company aimed to capitalize on the existing market for its cameras, particularly in soccer.

Market Developments:

• In April 2023, Sightlogix unveiled its latest product, the Sighttracker PTZ, an intelligent camera with Edge AI technology designed to automatically detect and track outdoor intruders with exceptional speed and efficiency. This high-performance PTZ camera incorporates Sighttracker software and AI classification analytics, enabling the camera to follow and monitor targets without experiencing network delays or latency. It has been specially designed to work with Sightsensor thermal detection cameras, allowing it to stay locked onto intruders even when they move beyond the field of view of the detecting camera.
• In April 2023, Advantech unveiled its latest innovation, the ICAM-520, a compact industrial camera that consists of an AI computing module from NVIDIA, specifically the Xavier NX model, an industrial-level image sensor produced by SONY known as MX 296, high-tech LED lights, and a lens that can adjust focus as needed. The device combines image acquisition and AI inference functions into a single system, reducing latency caused by the distance between IP cameras, cloud servers, and AI inference systems. This offering is ideal for edge AI applications that require real-time responsiveness, including automated optical inspection, optical character recognition, and object recognition at the edge.
• In March 2023, Sony unveiled the Alpha 7R V, the latest addition to its R series camera lineup that caters to professional photographers. Boasting 61.0MP still images, 8-step image stabilization, 8K movie output, and a 4-axis multi-angle monitor, the camera is packed with features for capturing high-quality photos and videos. The device incorporates Sony's cutting-edge image sensor with a new AI processing unit for AI-based image recognition and a BIONZ XR image processing engine for advanced subject recognition and capture.
• In August 2022, Strata Worldwide completed the acquisition of Bright Path AI (BPAI) from Boral Limited and Firetail Pty Ltd. The acquisition allowed Strata to provide its customers with powerful AI-based camera systems for improving workplace safety and reporting in multiple industries, including mining. BPAI features two camera technologies, a fixed vision system for monitoring people on foot in restricted zones, and a mobile digital vision system, mounted on equipment to alert operators to potential collisions with personnel or other objects.

Global AI Camera Market geographical analysis.

Based on geography, the AI camera market is segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific.

The Middle East and Africa (MEA) AI camera market is expected to grow significantly during the forecast period. The region has been experiencing rapid growth in adopting new technologies and is witnessing a shift toward digitization in various sectors. The increase in investment in infrastructure development and the rise in demand for smart city solutions are driving the growth of the AI camera market in the region. Countries such as the UAE, Saudi Arabia, and Qatar are leading the adoption of AI camera technology in the region, driven by the need for enhanced security and surveillance measures in critical infrastructures such as airports, seaports, and commercial buildings. The construction of new commercial and residential buildings also contributes to the growth of the AI camera market in the region.

AI Camera Market Scope:

Market Segmentation:

• By Application
  • Smartphones and Tablets
  • CCTV Camera
  • Digital Camera
  • Others
• By Technology
  • Image and Face recognition
  • Voice and Speech recognition
  • Computer Vision
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others