Market Synopsis
As per the analysis by the Market Research Future Reports (MRFR), the global smart cameras market is expected to expand at a CAGR of 8% and value approximately 2 billion by the end of 2023.
During the projection period of 2017 to 2023, the global market for smart cameras is expected to rise significantly. The rapid advancement of camera technology, the growing adoption of automation systems by enterprises and households, and the expansion of the semiconductor and electronics sectors have all contributed considerably to the growth of the global market for smart cameras in 2020. The smart camera market is expected to grow at a global level due to increased need for surveillance and security, ease of installation, and developed specs in electronic gadgets. The lack of technical expertise and the expensive cost of cameras, on the other hand, are important roadblocks to the global proliferation of smart cameras. Apart from this, the scarcity of standardization and constant review of regulatory policies of local bodies of various economies on the installation of smart cameras at sensitive locations are assumed to act as an obstacle to the expansion of the smart camera market.
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Market Segmentation
The global smart surveillance camera market can be classified on the basis of end-user, components, application, sensor technology, integration, scanning technology, and region.
On the basis of end-user, the global market for the smart camera can be segmented into Military & Defense, Public Spaces, Transit Facilities, Enterprise & Government Infrastructure, Commercial Facilities, and Residential Infrastructure.
On the basis of components, the global market for the smart camera can be segmented into Communication Technology, Digitization Circuit, Sensors, Lighting Device/LED, and Storage Hardware.
On the basis of application, the global market for the smart camera can be segmented into Fingerprint Readers, Security & Surveillance, Face Recognition, Robotics, Traffic Surveillance, and Industrial Machine Vision.
On the basis of sensor technology, the global market for the smart camera can be segmented into CCD and CMOS.
On the basis of integration, the global market for the smart camera can be segmented into Distributed Smart Cameras, Embedded Smart Cameras, Single-Chip Smart Cameras, and Stand-Alone Smart Cameras.
On the basis of scanning technology, the global market for the smart camera can be segmented into Line Scan, and Area Scan.
On the basis of region, the global market for the smart camera can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Regional Segmentation
Europe, North America, Asia Pacific, and the rest of the world have all been studied geographically. According to the research, APAC will likely reign supreme in the global smart camera market by capturing the most market share in the region. Taiwan, China, Japan, and the Republic of Korea, among other APAC growing countries, are making substantial contributions to the industry. It is recognized by a wide number of electronic component suppliers, manufacturers, and semiconductors, allowing the industry to grow rapidly. Because of the growing demand for security and monitoring in public spaces, the smart camera market in Europe is expected to rise significantly. The North American region is likely to expand due to the presence of developed nations like Canada and the U.S. It is likely to expand considerably during the review period.
Key Players
The most important players in the market for the smart camera are Sony Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Bosch Security Systems, Inc. (Germany), Nikon Corporation (Japan), Canon Inc. (Japan), Flir Systems, Inc. (U.S.), Raptor Photonics Ltd. (U.K.), Panasonic Corporation (Japan), Olympus Corporation (Japan), Watec Cameras Inc. (Japan), and Polaroid Corporation (U.S.).
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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