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The Smart Camera Market Registered US$ XX Bn in 2019 and it is Estimated to Reach More than US$ XX Mn by 2028, Likely to Grow with a CAGR of 10.1% During the Forecast Period.
A smart camera also referred to as an intelligent camera, is a picture processing system for monitoring industrial automation. These cameras contain two essential components: a standalone vision system and an inbuilt image sensor. Smart cameras are reprogrammable and can assist in improving communication which benefits machine vision systems. They epitomize trends in latest camera technology and not only capture large numbers of images, but also are capable of extracting application-specific information. These smart cameras have the potential to be integrated with personal computers and smartphone applications. The smart cameras can directly share the photographs and videos on various photo-sharing portals and social media platforms.
The major driver for the worldwide smart camera market is that the increasing usage of smart cameras for security & surveillance purposes in various applications, like military & defense, public spaces, transit facilities, enterprise & government infrastructure, commercial facilities, and domestic infrastructure. However, the shortage of standardization for the installation of smart cameras is projected to dampen the expansion of the smart camera market. Furthermore, the high cost associated to smart cameras is expected to hamper the development of the smart camera market within the near future.
By Sensor Type, CMOS Segment is anticipated to Expand at Rapid Pace during the Forecast Period
CMOS is anticipated to be the fastest-growing smart camera segment during the forecast period. The CMOS segment of the sensor technology segment is predicted to steer the worldwide smart camera marketplace for security & surveillance between 2019 and 2028. Lesser size, simple integration, faster frame rate, low power consumption, and lesser developing cost of CMOS sensors are the factors resulting in the extension of this segment.
By Application, Security & Surveillance Segment Contributed To Significant Share in Global Smart Camera Market in 2019.
Increasing the demand for smart cameras in several security & surveillance applications, like in smart buildings, household security market, protection from terrorist attacks, and outdoor security market. Continuous technical advancements are being administered for the development of higher quality smart cameras. The growing concern for national security among countries of the planet is one among the factors driving the demand for smart cameras, which successively, is fueling the expansion of the worldwide smart camera market.
The Market in the Asia Pacific occupied a Significant Market Share in 2019.
By geography, the smart camera market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is expected to expand at a CAGR of 16.0% over the forecast period. Rapid financial development in India, China, and Japan is projected to impel the development of the smart camera market during the forecast period. Furthermore, product invention by companies in Korea, China, and Singapore is driving the enlargement of the smart camera during this region. Additionally, Asia-Pacific is witnessing rapid suburbanization and transformation of structural expansions like the incorporation of hi-tech security systems in new building constructions. This factor is believed to positively influence the expansion of the smart camera market
Global smart cameras market is exceedingly fragmented and the major players have used numerous policies such as expansions, new product launches, agreements, partnerships, acquisitions, joint ventures, and others to increase their footprints in this market. Competition among the players within the global Smart Camera market is projected to extend considerably during this tenure. Key industry players such as Samsung Electronics Co., Ltd., Nikon Corp., Canon Inc., Datalogic S.P.A., PLR Ecommerce, LLC., WATEC CAMERAS, IntelliVision, VIVOTEK Inc., Omron Microscan Systems, Inc., Vision Components GmbH, Matrox, Hero Electronix Private Limited, XIMEA VMukti Solutions Pvt. Ltd., Axis Communications AB, Zmodo, Vivint, Inc., Panasonic Corp., Sony Corp., Ata-Vision, Bosch Security Systems, Basler Vision Technologies, Raptor Photonics, Polaroid Corporation, Microscan Systems Inc., Olympus Corporation, Nest Labs, among others.
- Single Chip
- Embedded Systems
- Area Scan
- Line Scan
- Wireless HART
- Security & Surveillance
- Consumer Electronics
- Defense and Aerospace
- North America
- Latin America
- Asia- Pacific (APAC)
- Middle East and Africa (MEA)