Smart Camera Market Overview:
Smart cameras are defined as camera devices that are equipped with features that the user can utilize to upload and share photos online using a built-in Wi-Fi or Long-Term Evolution (LTE) connection. Market Research Future (MRFR) has published a research report about the global smart cameras market that envisages success for this market at 8% CAGR during the forecast period between 2018 and 2023. By value, the market has been figured to be worth USD 2 BN by the end of the forecast period.
The vital factor for the global Smart Cameras Market growth is a range of features that include interchangeable lenses, special image processing unit, and one or more high-performance microprocessors that can run intelligent Algorithm-Specific Instruction Set Processor (ASIP) algorithms to extract information and knowledge from images. Other important market driving factors include growing electronics as well as semiconductor industries, rapid advances in camera technology, and growing adoption of automation systems by homes as well as industries. However, market growth can be hindered due to a lack of technical expertise and the high cost of cameras.
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Major Key Players:
The key players in the global smart cameras market include Axis Communications AB (Sweden), Bosch Security Systems Inc. (Germany), Canon Inc. (Japan), Flir Systems Inc. (USA), IntelliVision (USA), Nikon Corporation (Japan), Olympus Corporation (Japan), Panasonic Corporation (Japan), Polaroid Corporation (USA), Raptor Photonics Ltd. (UK), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Watec Cameras Inc. (Japan), Vivint Inc. (USA), Vivotek Inc. (Taiwan), VMukti Solutions Pvt. Ltd. (India), and Zmodo (USA).
Smart Cameras Market Segmentation:
The global smart cameras market segmentation has segmented the market into application, component, connectivity, technology, type, and region. The application-based segmentation segments this market into the automobile, consumer electronics, industrial, medical, transportation, video surveillance, and others.
Based on the component, the market has been segmented into the display, image sensors, lens, processors, and others. Regarding connectivity, the market has been segmented into Bluetooth, Wi-Fi, wireless Highway Addressable Remote Transducer Protocol (HART), and others. By type, the market has been segmented into embedded systems smart cameras, single-chip smart cameras, stand-alone smart cameras, and PC & network-based smart cameras.
As per the technology-based segmentation, the market has been segmented into sensors and scanning. Sensors have been sub-segmented into the complementary metal oxide semiconductor (CMOS), and charge coupled device (CCD). The scanning segment has been sub-segmented into area scan and line scan.
The regional segmentation of the global smart cameras market segments the market into the regional markets, namely Asia Pacific, Europe, North America, and rest of the world (RoW). The Asia Pacific region is the most dominant regional market due to higher acceptance of smart cameras by military and defense services, primarily for video surveillance. Due to growth in the electronics and semiconductor industries, the market is growing in China and Taiwan. Other important country-specific markets in the Asia Pacific region are India and Japan, followed by the remaining countries of this region.
Due to technological advancements and the presence of key market players in the USA, North America is another important regional market. Canada and Mexico are two other important country-specific markets.
During the forecast period, the European market is expected to witness substantial growth in this market due to the growing demand for security and surveillance at public places. Some of the major market players are based in this region too. The priority country-specific markets in this region are France, Germany, Italy, Spain, and the UK.
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