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The AI camera market size is forecast to increase by USD 8.43 billion at a CAGR of 13.64% between 2023 and 2028. The growth of the market depends on several factors, including the need for surveillance and security across smart cities, the advent of smart AI-based surveillance, and the need to mitigate criminal activities and terrorist attacks. AI cameras are cameras that use artifcial intelligence to deal with images and videos. AI cameras have data-rich decision-making capabilities to detect movement and capture high-quality images. They now feature ethernet gigabit connectivity, allowing faster data transmission, and deliver tera operations per second for superior processing capabilities. As demand for AI-powered cameras grows, the market faces increasing focus on addressing neural networks and privacy concerns to enhance security using IoT security while mitigating potential risks.
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The AI camera market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The market share growth by the entrance/exit surveillance camera for store/supermarkets segment will be significant during the forecast period. Building security and detection solutions, including cameras and video surveillance, offer the first line of defense against threats that put the safety of people and property at risk in places such as supermarkets. The growth in this segment is expected to be driven by the growing demand for surveillance devices to avoid unauthorized entry and secure workplaces. A rise in terror activities has led to concerns over global security. As a result, extensive investments have been made in camera systems globally for stores and supermarkets. This will drive the demand for AI cameras for stores and supermarkets and, in turn, will drive the growth of the global artificial intelligence camera market during the forecast period.
The entrance/exit surveillance camera for store/supermarkets segment accounted for USD 564.90 million in 2018 and shows a gradual increase in the during the forecast period. The need for surveillance systems is growing continuously across the world to forbid attackers/robbers from infrastructures. There has been a significant increase in the global deployments of AI cameras owing to the advancements in imaging technology, such as intelligent video analytics and deep machine learning, facial recognition camera, thermal imaging technology, and AI-based solutions that are capable of operating in complete darkness. These factors are likely to contribute to the growth of the global market during the forecast period. Some innovative products are night-vision (infrared) closed-circuit television (CCTV) with infrared light-emitting diodes (LEDs), which provide clear footage even in dark areas. High-definition CCTV offers high-clarity images and unrivaled 4K video quality, which are used in high-risk areas. Such products with enhanced features that help identify criminals will increase their adoption during the forecast period. This, in turn, will drive the growth of the segment and, in turn, the global AI camera market during the forecast period.
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APAC is estimated to contribute 44% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In recent years, Asian countries have been prone to extremist and insurgent threats and territorial disputes. To control any illegal activities and keep a check over their territories, critical infrastructures, and borders, some of the countries in the region, such as Australia, China, India, Japan, Malaysia, Pakistan, Singapore, South Korea, Taiwan, and Vietnam have installed several AI cameras in their streets, schools, colleges, hospitals, airports, and government organizations.
Moreover, a rise in crimes such as drug trafficking, illegal arms deals, mob fights, theft, and murders has provoked homeland security authorities to implement AI cameras to identify and catch criminals and control such incidents and strengthen data security. Furthermore, the presence of leading companies such as Sony, Panasonic, and others will leverage the development of AI cameras in the region. For instance, in October 2022, Sony announced the launch of Alpha 7R V (model ILCE-7RM5) as the newest R series camera in its line of Alpha mirrorless interchangeable lens cameras. The Alpha 7R V combines the highest resolution image sensor offered by Sony in an Alpha camera with a new AI processing unit dedicated to AI-based image recognition. Thus, the presence of key companies in the region is expected to fuel artificial intelligence camera market growth during the forecast period. This AI camera market research and growth report also includes key drivers, trends, and challenges during the forecast period.
In the rapidly advancing landscape of technology, deep learning and machine learning are revolutionizing various industries. Powered by artificial neural networks and capable of tera operations per second, these technologies are enhancing traffic management, smart farming, and automated sports broadcasting. They are also pivotal in security and smart surveillance systems, leveraging AI algorithms for medical applications and ensuring ethernet gigabit connectivity for seamless data transmission. Innovations like AI-controlled cameras and AI-assisted photography are reshaping computational photography in devices ranging from DSLR cameras to smartphone cameras. Facial recognition and motion detection capabilities in IP cameras and CCTV underscore the integration of AI technology in everyday security and monitoring solutions. Tools like Luminar Neo and features like face unlock highlight the transformative impact of AI-driven advancements in camera systems and AI photo editors.
The need for surveillance and security across smart cities is a major factor driving the market growth. Smart cities utilize advanced technologies to improve infrastructure performance and enhance communication, cost-efficiency, and quality of life. They incorporate smart traffic control, home monitoring, waste management, water management, and intelligent transportation. Surveillance and security equipment, like AI cameras, are deployed in smart cities to enhance safety and security. Axis Communications, a subsidiary of Canon, offers surveillance solutions adopted by smart cities worldwide. The growing number of smart cities, particularly in countries like India and China, is driving the demand for AI cameras and thereby driving artificial intelligence camera market growth.
Strategic alliances are an ongoing trend in the market boosting market growth. Companies are focusing on improving their solutions and developing new solutions. Hence, they are adopting strategic alliances. Some key strategic partnerships in the global market are as follows:
In March 2022, Cisco Meraki partnered with Cogniac to deliver AI-powered smart cameras. Cogniac's AI-powered platform will enhance the video analytics capabilities of Meraki's MV Series smart cameras. As companies seek to capitalize on synergies, innovations in the market will continue to increase during the forecast period. The flow of investments in research and development is expected to drive AI camera market growth during the forecast period.
The security of surveillance data is a major challenge in the market. The security of surveillance data is at risk due to increasing incidents of data breaches and theft by hackers. For example, in January 2020, over 515,000 servers, routers, and security cameras had their Telnet credentials leaked on a hacking forum. In 2022, more than 4,100 publicly disclosed data breaches occurred.
To protect surveillance data, a secure IT environment is essential. Surveillance solutions collect sensitive video and audio data, making them vulnerable to privacy violations if breached. Leaks of private videos and photos can damage brand loyalty and lead to lawsuits. Concerns about surveillance data security are expected to negatively impact artificial intelligence camera market growth.
The AI camera market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the artificial intelligence camera market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arecont Vision Costar LLC: The company offers AI cameras such as AV3105 AI, AV5105 AI, and AV3100 AI.
The AI camera market forecast report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In advanced technology, artificial neural network (ANN) stands as a cornerstone, powering innovations such as HDR technology and bolstering capabilities in image recognition programs through machine learning algorithms. However, the widespread adoption of ANNs also raises significant privacy concerns amidst growing threats of cyberattacks. Despite the high manufacturing costs, ANNs drive the evolution of AI-controlled camera systems and AI-powered cameras, enhancing image processing and enabling IR night vision in industrial camera systems. Their integration extends to logistics and warehouse management, optimizing operations like traffic counting and people counting. ANNs also underpin critical applications like face recognition technology in smart city initiatives, supporting urban planning and public safety through quality control and behavior monitoring. Advances in edge computing further enhance these capabilities, ensuring real-time responses in crowd density analysis and intrusion detection, while also improving smart home systems for seamless urban living.
The AI cameras market is evolving rapidly, driven by advancements in AI technology, AI programs, and AI algorithms. AI-powered cameras utilize deep learning, machine learning, and artificial neural networks to enhance features like optical zoom, stabilization, and high dynamic range (HDR technology). These cameras excel in image recognition programs, enabling AI-assisted photography through AI-controlled cameras and AI photo editors. In sectors like traffic management, smart farming, automated sports broadcasting, medical, and security and smart surveillance, AI cameras offer precision and efficiency. Despite their advantages, high manufacturing cost and privacy concerns pose challenges, especially with the risk of cyberattacks on AI technology.
Market Scope |
|
Report Coverage |
Details |
Page number |
190 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
Market growth 2024-2028 |
USD 8.43 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.73 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, Japan, UK, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arecont Vision Costar LLC, Avigilon Corp., Basler AG, Canon Inc., Cisco Systems Inc., Dahua Technology Co. Ltd., Eagle Eye Networks Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Honeywell International Inc., Huddly Group, Johnson Controls International Plc., MOBOTIX AG, Netgear Inc., Nikon Corp., Panasonic Holdings Corp., Pelco Inc., Robert Bosch GmbH, Sony Group Corp., and Teledyne Technologies Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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