Smart Camera Market Overview:
Market Research Future experts say that the global smart cameras market would reach a constant growth level and achieve a market size of USD 2 Billion by 2023, at a CAGR of 8%, in the forecast period.
The market for smart cameras is quite gradual in its growth but has a prosperous future. The market is getting influenced by many factors, such as its compatibility with Android operating systems, new technology, and swelling camera trends. These are supposed to be the rising factors for the market in the current time. The Smart Cameras Industry are also trending due to the built-in functionality that they offer the user, such as professional features with interchangeable lenses, LTE, accessibility for users with an open-source Android operating system, and network services that distinguish from other telecommunication agencies. These have also been considered as prime factors supporting the market’s growth for the forecast period.
At the same time, the prominent factors further escalating the demand for smart cameras are growing electronics and semiconductor industries, rapid advances in camera technology, and rising adoption of automation systems by homes and enterprises. These have speedily positioned the market valuation, which will also go ahead, as expected, during the forecast period.
On the other hand, the beneficiaries of smart cameras to offer special image processing along with one or more high-performance microprocessors to extract information and knowledge from images are also to give a thrust to the market’s growth graph towards the positive note. Due to its entire automated control system, the smart cameras are getting a substantial hype in the current time, which is equally driving the market of smart cameras.
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Smart Camera Market Key Players:
The well-known players who are contributing in the market of smart camera market are listed as Canon Inc. (Japan), Sony Corporation (Japan), Nikon Corporation (Japan), Raptor Photonics Ltd. (U.K.), Olympus Corporation (Japan), Polaroid Corporation (U.S.), Bosch Security Systems, Inc. (Germany), Samsung Electronics Co. Ltd. (South Korea), Panasonic Corporation (Japan), Flir Systems, Inc. (U.S.), and Watec Cameras Inc. (Japan).
Even the other players in the market such as VIVOTEK Inc. (Taiwan), Zmodo (U.S.), IntelliVision (U.S.), Axis Communications AB (Sweden), VMukti Solutions Pvt. Ltd. (India), and Vivint, Inc. (U.S.) have been innovating and investing in research and development to present a cost-effective product portfolio.
Smart Camera Market Segmentation:
The market for smart cameras, as per the study, is segmented broadly among the type, component, application, technology, and connectivity.
- In terms of type: Stand-alone smart cameras, single-chip smart cameras, embedded systems, smart cameras, and PC & network-based smart cameras are the segments.
- In terms of component: Display, image sensors, processors, lens are the segments.
- In terms of technology: Sensors (CMOS and CCD) and scanning (area scan and line scan) are the segments.
- In terms of application: Video surveillance, industrial, consumer electronics, automobile, medical, transportation, and others are the segments.
- In terms of connectivity: Wi-Fi, wireless HART, Bluetooth, and more are the segments.
Smart Camera Market Regional Framework:
The topographical analysis of the smart camera market is also done for the key regions of Asia Pacific, North America, Europe, and the rest of the world.
It is due to the higher acceptance of smart cameras by military and defense services in the Asia Pacific region for video surveillance is estimated to lead the smart cameras market during the assessment period. Besides, growth in the electronics and semiconductor industries is also simultaneously fueling the market for smart cameras in countries such as China and Taiwan.
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