Smart Camera Market, Type (Stand-Alone, Single-Chip, Embedded), Component (Display, Image Sensors, Processors), Technology (Sensor, Scanning), Application (Consumer Electronics, Industrial), Connectivity (Wi-Fi, Bluetooth) — Forecast till 2023
— Smart Camera Market Overview:
Smart cameras are camera devices are equipped with features which enable the user to upload and share photos online using a built-in Wi-Fi or LTE connection. These cameras are highly compatible with Android operating systems. Smart cameras epitomize the trends in new smart technology. Smart cameras not only share the photographs taken with these devices but can also communicate with the local media in real-time. These devices are trending owing to the built-in functionality they offer the user such as LTE, professional features with interchangeable lenses, accessibility for users with an open-source Android operating system, and network services that differentiate from other telecommunication agencies.
The global smart cameras market has seen substantial growth over the years and is expected to grow steadily over the forecast period of 2016-2022, reveals a study by Market Research Future (MRFR). Smart cameras have been gaining in market penetration in surveillance and machine vision industries. Smart cameras can perform tasks beyond just recording videos such as motion detection, recognize the human behavior, read vehicle number plates and much more owing to which they find intensive application in automated control systems.
The growth in the Smart Cameras Market can be attributed to the growing use of smart cameras in video surveillance of residential buildings and commercial offices due to rising concerns for safety and security. Smart cameras are also being deployed in smart homes for home monitoring which spurs the growth of the market. Application of smart cameras in bar code reading is widespread and offers opportunities for growth of the market. Advancements in the smart camera technology such as 3D vision are likely to boost the market for smart cameras. Growing use of smart cameras in machine vision applications has increased considerably over the years which is a major driver of the market.
Additionally, usage of smart cameras for automated system controls in various industry verticals such as automotive, chemical, pharmaceuticals and food & beverage also adds fuel to the growth of the market. Regulations mandating installation of security and surveillance systems in commercial areas have also reflected positively on the market. Despite the growing popularity of smart cameras, the market growth might be hindered by various factors. High price due to product premiumization is likely to restrict the adoption of smart cameras. Smart cameras are less flexible compared to conventional cameras and offer limited user interface.
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The global smart cameras market is highly competitive with the presence of some established players. The key players are indulging in various strategic activities such as mergers and acquisitions, partnerships, product launches, innovation, etc. to sustain their market position.
The key players functioning in the global smart cameras market include Samsung Electronics Co. Ltd. (South Korea), Bosch security systems, Inc. (Germany), Nikon Corporation (Japan), Panasonic Corporation (Japan), Olympus Corporation (Japan), Watec Cameras Inc. (Japan), Sony Corporation (Japan), Canon Inc. (Japan), Flir Systems, Inc. (U.S.), Raptor Photonics Ltd. (U.K.), Polaroid Corporation (U.S.).
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The global smart cameras market has been segmented based on type, component, technology, and applications. By type, the market has been segmented into Stand-alone, Single-chip, Embedded system, and PC & network-based smart cameras among others.
By component, the market has been segmented into Display, Image sensors, Processors, Lens, and communication interface among others. By technology, the market has been segmented into sensor (CMOS, CCD), and Scanning (area scan, Line scan) among others.
By applications, the market has been segmented into Video surveillance, Industrial, Transportation, Automobiles, and Medical among others.
The key markets of the global smart cameras market include North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific market for smart cameras is expected to remain dominant over the forecast period owing to the presence of major players in the region.
Moreover, the establishment of manufacturing industries and growing infrastructural activities in the region augment the growth of the market.
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• In July 2018, Reolink launched a smart camera which is wire-free and can also be recharged via solar panels. The versatile smart camera would ensure better security and clearer, sharper images while being affordable.
• In June 2018, Ooma, Inc., a platform for smart communications, announced the launch of a smart video security camera which includes advanced features such as facial recognition, and offline recording to the Canadian market. Named Ooma Butterfleye, is the latest offering by the company and is equipped with high-end sensors.
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