Artificial Intelligence (AI) Camera Market Size, Share & Industry Analysis, By Technology (Biometric Recognition, Computer Vision, Deep Learning, Context-Aware Computing, and Others), By End-user (BFSI, Healthcare, Automotive, Consumer Electronics, Retail, Government, and Others), By Product Type (Smartphone Camera, Surveillance Camera, DSLR Camera, and Others) and Regional Forecast, 2024-2032

The global Artificial Intelligence (AI) Camera Market size was valued at USD 11.67 billion in 2023. The market is projected to grow from USD 13.59 billion in 2024 to USD 61.73 billion by 2032, exhibiting a CAGR of 20.8% during the forecast period.

An AI (artificial intelligence) camera is a camera that is powered by artificial intelligence capabilities that offer scene analysis, background color adjustments, beautification, stabilization, help remove objects from the frame, and much more. The demand for such modernized cameras is increasing with the emerging technologically advanced surveillance solutions due to concerns regarding public security and safety. These cameras are integrated with digital technologies, such as AI, Internet of Things (IoT), and others, that aid in facilitating the security of individuals and businesses.

The camera industry majorly depends on consumers’ disposable pay. A rise in customer demand for AI-based camera features in smartphones is driving market growth. Moreover, the rise in AI CCTV cameras at traffic signals by government entities for recognizing and detecting license plates on stationary and moving vehicles contributes to market progress. The growing penetration of AI-powered cameras in connected devices and smartphones is creating market growth opportunities.

The post-COVID-19 pandemic has given rise to the requirement for surveillance in public areas with government and private organization’s investments. Private and government societies expressed their support for the use of cameras for public protection to prevent thefts.

Impact of Generative AI

Adoption of Generative AI Technology in Cameras to Open up Numerous Market Opportunities 

Generative AI is a kind of artificial intelligence that can generate a variety of videos, images, and text. These GenAI models, when unified together, build a camera that describes the present act in words and then makes use of a second model for a newly generated stylized picture or image.

Cameras with generative AI capabilities can offer real-time filters and effects, such as applying artistic filters, adding elements to the background while capturing a photo, changing backgrounds instantly, and many more. Such cameras can proactively analyze the scene and make use of AI to make optimal suggestions or automatically adjust the frame for better results. Such features offer enhanced creativity, artistic visualizations, better personalization and customizations, easy manipulations, and much more. The use of generative AI in cameras can deliver better results than traditional methodologies. Hence, several enterprises are innovating new solutions with generative AI features and benefits. For instance,

• In August 2023, Kyle Goodrich, a Snapchat engineer, debuted an innovative approach to implement generative AI for renovating photos into exclusive works of art with an AI-driven hand-held camera. The AI-based hand-held camera uses a generative AI mechanism to open up new prospects for renovating photos into different artworks.

Such innovations and approaches with generative AI can create numerous lucrative opportunities for market growth.

Artificial Intelligence (AI) Camera Market Trends

Growing Interest in Higher Quality AI-driven Smartphone Cameras

Smartphone manufacturers are integrating deep learning and artificial intelligence technologies in their offerings to deliver high-resolution images. These AI-powered smartphone cameras identify elements with the help of AI filters to create higher-quality images. AI-driven cameras in smartphones also simplify low-resolution images by mechanically forecasting missing pixels. These cameras empower higher-quality and high-resolution full-screen photos. They are used for user verification, emotion acknowledgement, device management, and other determinations. With such features, demand for these camera features in smartphones is increasing, thereby driving market growth.

AI mechanism in the camera adds various features, such as face detection, video recording, image recognition, and many others. Such cameras offer mechanically progressive compatibility with an improved 360-degree visualization for the surveillance industries. Various leading smartphone vendors are developing innovative AI-based cameras in their new smartphones to satisfy the growing customer demand. For instance,

• In May 2022, Tenda announced the launch of progressive technologies, such as an AI-powered smart security camera with full HD 1080p and pan and tilt functions. It offers a complete duplex with cooperative audio communications and a three-year guarantee period.

Such innovations and advancements in AI-driven smartphone solutions propel the market growth.

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Artificial Intelligence (AI) Camera Market Growth Factors

Rising Consumer Interest in Smart Devices to Drive the Market Progress

Consumers are increasingly interested in smart devices that provide advanced features and convenience. AI-driven cameras for businesses and homes cater for this demand with different features, such as automation, object recognition, security monitoring, and many others.

Also, businesses across different industries are seeking automation to enhance efficiency, minimize costs, and obtain better data-driven insights. These cameras also offer robust tools for functions, such as anomaly detection, quality control, and predictive maintenance.

Thus, the rise of smart cities and connected infrastructure is driving the requirement for real-time data collection along with analysis, which AI cameras can excel at. Hence, various market players are developing solutions with such automation and advancements to cater for the changing consumer demands. For instance,

• In December 2023, Hanwha Vision announced the launch of a four-channel mini AI multidirectional camera, PNM-C16013RVQ, for a smart and compact contribution. It offers 360° exposure of scenes to operatives, with AI analytics, comprising virtual line and area recognition, and a cost-efficient and discreet solution.

These modernizations and advancements cater to customer interest in AI-driven cameras, eventually fueling the market progress.

RESTRAINING FACTORS

Growing Privacy Concerns and Higher Costs Associated with AI Cameras to Hamper Market Growth

Various factors that impact the growth of the artificial intelligence camera market include the absence of availability of AI-driven platforms and the lack of knowledge of AI cameras. Other factors comprise the higher cost of AI-driven cameras. Hence, not every consumer can purchase these cameras owing to their high price.

Growing privacy fears about guarding video databases from hackers and theft are projected to hinder market growth. The higher risk of video data being misrepresented in the public cloud in the camera recorders and increasing data breaches limit organizations from keeping video footage. AI-powered video surveillance cameras are more susceptible to cyberattacks. Also, these cameras have high industrial costs that impede market progress. AI cameras carry risks and various dimensions, including safety, jobs, and regulatory questions. Moreover, an absence of awareness of progressive products is a foremost barrier to the global market.

Artificial Intelligence (AI) Camera Market Segmentation Analysis

By Technology Analysis

Enhanced Automation and Better Navigation Features of Computer Vision Technology to Boost Segment Growth

Based on technology, the market is categorized into biometric recognition, computer vision, deep learning, context-aware computing, and others (NLP).

The computer vision segment is anticipated to grow with the strongest compound annual growth rate (CAGR) during the forecast period. Computer vision technology helps to automate repetitive tasks, navigation, object detection, and obstacle avoidance. Thus, the technology integrated with AI cameras is useful in many applications, such as traffic monitoring, healthcare analysis, and many more.  

The biometric recognition segment held the highest market share for the year 2023. Biometric recognition, such as facial recognition or iris recognition, combined with an AI-powered camera, offers numerous benefits, such as enhanced security, faster response time, increased convenience, and helps to improve crime prevention. Such factors contribute to its highest market share.

By End-user Analysis

Rising Adoption of Advanced Technology-based Consumer Electronics Boosted Segment Growth

By end-user, the market is segmented into BFSI, healthcare, automotive, consumer electronics, retail, government, and others (residential, military & defense, and oil & gas).

Among these, the consumer electronics segment accounted for the highest market share and is projected to grow with a strongest CAGR over the forecast period. This is largely due to an upsurge in demand for innovative technology-driven smartphones and connected devices. For instance,

• In March 2022, Qualcomm Technologies Inc. introduced an IoT smart camera processor that aids face biometrics, safety tools, and intelligent security. Qualcomm showcased the AI-driven smart camera mainframe at the ISC WEST (International Security Conference and Exposition). The camera has a portfolio of visualization intelligence mechanisms for enterprises, public spaces, and cities.

Other prominent end-users of AI cameras include automotive, retail, and military and defense. These artificial intelligence-powered cameras provide these end-users with several benefits, such as enhanced precision, powerful interference detection solutions, smart objection, faster data extraction, and much more.

By Product Type Analysis

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DSLR Cameras Segment to Dominate the Market Owing to Penetration of AI-based Cameras

Various product types of AI-based cameras include smartphone camera, surveillance camera, DSLR camera, and others (compact camera and industrial camera).

The DSLR camera segment is anticipated to grow with a strongest CAGR during the forecast period. It is predominantly attributed to the rising interest in photography and the implementation of AI-based camera features to capture images. These cameras offer better picture quality resolution along with automation, which individuals primarily prefer.

• In March 2023, Move.ai added an experimental mode enabling customers to use the system with any HD camera – from USD 30 webcams to every DSLR, Android, and action camera. It allows users to build studio-quality signal capture with the help of artificial intelligence software that has opened up to allow any kind of HD camera.

The surveillance camera segment accounted for the highest Artificial Intelligence (AI) Camera Market share in 2023. AI-powered surveillance cameras have gained popularity owing to several benefits over traditional CCTV cameras. These types of cameras are used across various applications, such as traffic signals, higher security areas, government offices and many more.

REGIONAL INSIGHTS

The market has been analyzed by region: North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

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North America held the highest market revenue share in 2023. The rise of surveillance cameras to monitor public places and civil activists in this region drives market growth. Also, the U.S. government launched the Foreign Intelligence Surveillance Act, which necessitates parameters for approving certain electronic surveillance activities. As per this act, using AI surveillance tools with the government helps upsurge the demand for artificial intelligence cameras.

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Asia Pacific is anticipated to grow with a leading CAGR in the global market during the forecast period, with increasing investments in advanced technology-based electronic devices. Asia Pacific comprises half of the world’s population after the U.S. Also, the region has faster-developing economies, such as India, South Korea, Japan, Australia, and others, which are growing more quickly with the rapid acceptance of smart AI cameras in connected devices with favorable government initiatives. For instance,

• In January 2024, the Delhi government of India announced the installation of AI-driven cameras to identify traffic violations. These AI-powered cameras would detect 19 traffic violations, such as using a mobile while driving, triple riding on a two-wheeler, and plying without a valid PUCC.

Europe is projected to gain a notable market share during the forecast period. Government investments and initiatives for AI adoption and implementation drive the market progress across European countries. Private organizations to accelerate AI camera implementation across countries with rising investments and business developments in the region. For instance,

• In January 2024, Ficosa in Spain signed a worldwide commercialization contract with Indie Semiconductor for accessible neural network-driven edge sensing in cameras for the automotive sector. The partnership agreement between Indie and Ficosa would develop automotive smart camera projects with neural network-driven artificial intelligence handling.

The Middle East & Africa, and South America are anticipated to grow with reasonable growth rates during the forecast period due to the rise in smartphone penetration and the enhancement in the usage of AI technology for surveillance. Also, the increasing technological investments in these regions contribute to the Artificial Intelligence (AI) Camera Market growth.

KEY INDUSTRY PLAYERS

Rising Launching and Development of Advanced Technology-based Cameras to Aid Market Growth

Major players in the market, such as Bosch Security Systems Inc., Canon Inc., Samsung Electronics, Axis Communications AB, and Huawei Technology, are focused on offering advanced digital technology-based cameras. These players are expanding their product portfolio owing to the rising demand for AI-based cameras. Key players in the market are adopting several business strategies, such as partnerships, mergers, and collaborations, to expand their businesses around the globe.

List of Top Artificial Intelligence (AI) Camera Companies:

• Axis Communications AB (Sweden)


• Bosch Security Systems Inc. (U.S.)


• Canon Inc. (Japan)


• Panasonic System Networks Co., Ltd. (Japan)


• Teledyne FLIR LLC (U.S.)


• Hangzhou Hikvision Digital Technology Co., Ltd. (China)


• Honeywell Security Group (U.S.)


• Sony Electronics Ltd. (Japan)


• Zhejiang Dahua Technology Co., Ltd. (China)


• Vivotek Inc. (Taiwan)

KEY INDUSTRY DEVELOPMENTS:

• February 2024: NWSL, in collaboration with Google Pixel, announced the launch of the Program for Pitchside Content with AI Cameras. With the multi-year partnership, Google Pixel has become the sponsor of the NWSL Championship and Playoffs while also launching the Pixel program to bring fans closer to the game.


• October 2023: Panasonic added AI-based auto tracking to its PTZ cameras. The mechanism is perfect for usage in news studios, as it allows users to capture all essential content without the requirement of multiple operatives to manage cameras.


• October 2023: Teledyne FLIR expanded its portfolio with the introduction of Visible Security Cameras powered with artificial intelligence at ISC West 2023. The FLIR Quasar Premium Mini-Dome AI is accessible in three representations: 4K Wide, 5 MP, and 4K Narrow. All choices feature 12 analytics to identify people, objects, vehicles, events, and attributes.


• March 2023: Sony India announced the launch of the Alpha 7R V camera, which provides a high-resolution imaging capability with AI-driven autofocus. The Alpha 7R V unifies the highest resolution of the Sony image sensor with an AI handling unit devoted to AI-driven image recognition.


• August 2022 – Hikvision announced the launch of an AI-driven web camera. This web camera has various features, such as ultra-high resolution, sharp autofocus, and in-built microphones. The firm designed an AI-driven camera to improve human depiction imaging and bring added natural aspects to the frame. These features included convenience, pleasure, versatility, and comfort for virtual online video scenarios.

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The research report highlights leading regions across the world to offer a better understanding to the user. Furthermore, the report provides insights into the latest industry growth trends and analyzes technologies deployed rapidly globally. It further highlights some drivers and restraints, helping the reader gain in-depth knowledge about the report.

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