AI Based Camera Market Set for Rapid Growth and Trend by 2020-2027

Overview

The AI Based Camera Market is anticipated to grow by US$21.58 Billion by 2025 rapidly growing at a CAGR of 23.8% during the forecast period. The global AI camera market is driven by growing adoption of artificial intelligence technology and many developing countries realizing its benefits. These factors have helped shape the AI camera market and are expected to boost the growth. Companies in the AI camera market could also face challenges such as limited use of AI in developing countries and high cost of equipment. The details covered in the AI camera market report cover all the aspects of the industry. AI camera market analysts have also shared growth projections in the report and have suggested AI camera market players to plan growth strategies accordingly.

Top Market Players

The top-grossing players in the AI Based Camera Market are identified across all the significant regions are Sony Corporation, Samsung Electronics, Honeywell International, Xiaomi Inc, Apple Inc, Nikon Corporation, Canon Inc, LG Electronics, Huawei Technology Co Ltd, HikVision, Google LLC, Fujitsu Ltd, and Huddly AS. These market participants contribute extensively to market growth. Apart from the top key players, the other players add nearly 25–30% investments in the AI camera market.

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Market Segmentation

The global AI camera market has been segmented based on type and technology. On the basis of technology, the market for AI camera is segmented based on speech/voice recognition, image/face recognition, computer vision, and others. Additionally, the market on the basis of type, is segmented into surveillance cameras, smartphone cameras, DSLRs, and others.

Factors like growing need for surveillance as well as demand for consistent monitoring at commercial stores support the AI camera market growth. The performance of the AI camera market has also been studied for the past and current years. Additionally, the AI camera market report provides analysis of these segments. The AI camera market segmental analysis provided in the report offers major details about the AI camera market performance and future.

Regional Framework

AI solutions have been gaining prominence persistently in the Asia-Pacific region, predominantly to cater to the growing need for security solutions owing to the advent of the smart homes and smart city initiatives in the developing countries.

AI vendors in China prefer Tensor Flow or Caffe, whereas companies in Singapore prefer Microsoft CNTK, and companies in Japan prefer Chainer Software to support AI technologies. The ease of availability of such platforms has introduced substantial potential opportunities for vendors to leverage more advanced technologies to develop tools for critical business needs. China has witnessed significant developments in terms of consumer electronics, surveillance, and the retail sector and contributed nearly 40% of the production of CCTV cameras across the globe. With this, Asia-Pacific is expected to the fastest-growing regional market during the assessment period.

North America region is also leading the artificial intelligence camera market with the highest adoption rate. The prime factors causative to the growth of the AI camera market in North America include surveillance systems, retail sector, integration of artificial intelligence technology in consumer electronic devices, and law enforcement.

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