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AI Camera Market Trends

  • Report ID: GMI11248
  • Published Date: Sep 2024
  • Report Format: PDF

AI Camera Market Trends

The AI camera industry is experiencing robust growth, driven by the increasing adoption of artificial intelligence across various applications. Advancements in AI technology, such as deep learning algorithms and computer vision, have significantly enhanced the capabilities of AI cameras. These improvements enable more sophisticated features such as facial recognition, object detection, and real-time analysis, which are becoming integral to sectors including security, automotive, and consumer electronics. As a result, the market is expanding rapidly with a diverse range of innovative products being introduced.
 

The integration of AI cameras into smart home automation is gaining momentum as consumers prioritize enhanced security and convenience. AI cameras are now commonly used in home automation systems for monitoring and controlling home environments. Standard features like motion detection, activity recognition, and automated responses offer users greater control and peace of mind, driven by the increasing demand for connected devices and the expansion of smart home infrastructure. For instance, in April 2024, Resideo introduced the First Alert VX5 Indoor Camera at ISC West 2024, expanding its VX Series. The AI-powered camera offers advanced event detection, high-quality video and audio, and a unique privacy mode. Integrated with Resideo's Total Connect 2.0 app, it provides whole-home security control, catering to professional security dealers with flexible installation options and service plans.
 

In the commercial sector, AI cameras are gaining traction for their role in enhancing operational efficiency and safety. Retailers and businesses are utilizing AI-enabled surveillance for analytics and security purposes, including inventory management, customer behavior analysis, and theft prevention. The adoption of AI cameras in industrial settings is also on the rise, where they are used for quality control, process monitoring, and predictive maintenance. As AI technology continues to evolve, the market is expected to see further expansion with innovative applications and increased adoption across various industries.

Authors: Suraj Gujar, Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

Market size for AI camera was USD 7.55 billion in 2023 and will expand at an 18% CAGR between 2024 and 2032 due to advancements in AI and machine learning technologies, which enhance image recognition and processing capabilities.

AI camera industry from the manufacturing & retail segment will witness 19.5% CAGR through 2032, owing to the significant adoption for enhancing operational efficiency and customer experiences.

North America industry captured 38% share in 2023, driven by advanced technological infrastructure and high adoption rate of innovative technologies.

Prominent players operating in the industry are AV Costar, Axis Communications AB, Bosch Sicherheit Systeme GmbH, Canon Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., and Huawei Technologies Co., Ltd., among others.

AI Camera Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 632
  • Countries covered: 22
  • Pages: 186
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