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The AI camera market was estimated at USD 20.1 billion in 2022. The market for AI cameras is anticipated to increase from USD 23.1 billion in 2023 to USD 71.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 15.20% over the forecast period (2023-2032). The primary market drivers accelerating market expansion are rising need for monitoring and surveillance in commercial stores, as well as enhanced customer experience, increased efficiency, and higher return on investment (RoI).
Key Companies in the AI camera market include
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Artificial intelligence (AI) technologies are being included into smartphones by manufacturers to recognise photos. Using this technique, the phone recognises the object and applies a correction filter for a higher-quality image. Low-resolution photographs are also explained by the use of AI cameras in smartphones because the AI-vision engine.
High-quality full-display images are now possible. Additionally, AI cameras are used for device administration, user authentication, and emotion recognition. With these benefits, the demand for AI cameras in smartphone manufacturing is rapidly rising, driving the sector forward.
Additionally, the market for AI cameras is growing globally thanks to a wide range of AI camera solutions from various businesses and for various uses. Due to the numerous companies that compete in this market, consumers may purchase items at reasonable costs, which promotes market expansion. Businesses also invest a lot in new product development and technological improvements to acquire a competitive edge. Google’s most recent Pixel 6 camera, for instance, now has automatic features like smart blurring, object removal, skin tone exposure, and more.
Additionally, market expansion is being fueled by the development of artificial intelligence in numerous businesses. It combines specialised hardware with intricate software and algorithms to distinguish speech images and perform a variety of other tasks more effectively and accurately. Another driver propelling market growth over the forecast period is the rising demand for high-speed networks in industrial facilities to analyse real-time data, enhance manufacturing processes, and ensure secure and efficient data transmission.
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Segmentation
Smartphone cameras, security cameras, and DSLRs are included in the type-based segmentation of the AI camera market. The market share leader is the sector for security cameras. In areas with good illumination, AI cameras can blend HDR images.
The ability to switch to multi-image recording and apply computational imaging to create a stepless zoom effect with two or more camera modules, on the other hand, is available in low-light situations.
Image/face recognition, speech/voice recognition, and computer vision are among the technological segments of the AI camera market. Due to its widespread use in smartphones, the image/face recognition sector has the biggest market share in the AI Camera industry.
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. The industry for AI cameras is dominated by North America, which is home to well-known brands like Honeywell, Google, and Apple. Additionally, the adoption of artificial intelligence technology in consumer electronics, surveillance systems, retail, and law enforcement sectors accounts for the largest market share.
Due to the growing need for AI-based camera systems for smart motion detection, the TIoC range, and the most recent technology, Europe holds the second-largest market share for AI cameras. The UK AI camera market had the quickest rate of growth in the European region, while the German AI camera market had the largest market share. From 2023 to 2032, the Asia-Pacific AI camera market is anticipated to experience the quickest CAGR growth. The region holds a sizeable market position in the worldwide AI camera security market due to the abundance of cost-competitive labour and favourable raw material prices. Additionally, the Indian AI camera industry had the quickest rate of growth and China’s AI camera market had the greatest market share.
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