Artificial Intelligence (AI) Camera Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
An artificial intelligence (AI) camera refers to a camera equipped with advanced artificial intelligence capabilities designed to incorporate machine learning algorithms and computer vision techniques to process and analyze the captured data in real time. These cameras are commonly used in automatic safety monitoring and monitoring unsafe workplace conditions to improve individuals' safety.

Sizing and Forecast
The artificial intelligence (ai) camera market size has grown exponentially in recent years. It will grow from $14.43 billion in 2023 to $18.01 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%.  The  growth in the historic period can be attributed to evolution of computer vision technology, increased demand for video analytics, growth in surveillance and security applications, expansion of smart home devices, rise in industrial automation.

The artificial intelligence (ai) camera market size is expected to see exponential growth in the next few years. It will grow to $43.89 billion in 2028 at a compound annual growth rate (CAGR) of 24.9%.  The growth in the forecast period can be attributed to adoption of ai-powered facial recognition, improved processing power and speed, integration of ai cameras in automotive systems, customization and personalization in ai camera features, emphasis on privacy and ethical use of ai cameras. Major trends in the forecast period include advancements in deep learning algorithms, development of edge computing capabilities, collaboration with 5g technology for enhanced connectivity, integration of multimodal sensing in ai cameras, integration of edge ai for real-time processing.

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Segmentation & Regional Insights
The artificial intelligence (ai) camera market covered in this report is segmented –

1) By Type: Smartphone Camera, Surveillance Camera, DSLR Camera, Other Types
2) By Technology: Image or Face Recognition, Voice or Speech Recognition, Computer Vision, Other Technologies
3) By End User: Banking, Financial Services and Insurance (BFSI), Healthcare, Automotive, Retail, Government, Logistics and Transportation, Military and Defense, Commercial Spaces, Media and Entertainment, Other End-Users

Asia-Pacific was the dominate region in the artificial intelligence market in 2023. The regions covered in the artificial intelligence (ai) camera  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Growing demand for monitoring and surveillance in commercial stores with increased retail crime (ORC) occurrences is expected to propel the growth of the artificial intelligence (AI) camera market going forward. Monitoring is a comprehensive concept encompassing the continuous and deliberate observation of individuals, locations, objects, or procedures. In contrast, surveillance denotes focused monitoring conducted by law enforcement or security authorities to gather specific evidence of criminal activities or other illicit behavior. In commercial businesses, AI cameras are used to watch real-time consumer movements, analyze shopping trends, identify theft or suspicious activity, and optimize store layouts to improve customer experience and security. For instance, in 2022, according to the survey published by the National Retail Federation on retail security with 63 participating retailers, a US-based retail trade association, organized retail crimes (ORC) occurrences increased by 26.5% on average in 2021 as compared to the previous year in the US, where 8 out of 10 retailers stated that they are facing violence and aggression associated with ORC incidents. Therefore, the growing demand for monitoring and surveillance in commercial stores and retail crime (ORC) occurrences drives the artificial intelligence (AI) camera market.

Key Industry Players
Major companies operating in the artificial intelligence (ai) camera  market report are Amazon.com Inc., Google LLC, Sony Corporation, Panasonic Holdings Corporation, Cisco Systems Inc., Honeywell International Inc., Canon Inc., Johnson Controls Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Zhejiang Dahua Technology Co. Ltd., Hanwha Vision, Teledyne Technologies Incorporated, Nikon Corporation, Avigilon Corporation, Bosch Security Systems Inc., Arlo Technologies Inc., Basler AG, Pelco Incorporated, Canary Connect Inc., Deep Sentinel Corp., Eagle Eye Networks Inc., Netatmo SAS, Arecont Vision Costar LLC, Huddly Group, Amcrest Industries LLC

The artificial intelligence (ai) camera market report table of contents includes:
1. Executive Summary

2. Artificial Intelligence (AI) Camera Market Characteristics

3. Artificial Intelligence (AI) Camera Market Trends And Strategies

4. Artificial Intelligence (AI) Camera Market - Macro Economic Scenario

5. Global Artificial Intelligence (AI) Camera Market Size and Growth

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32. Global Artificial Intelligence (AI) Camera Market Competitive Benchmarking

33. Global Artificial Intelligence (AI) Camera Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Camera Market

35. Artificial Intelligence (AI) Camera Market Future Outlook and Potential Analysis

36. Appendix

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