Smart Camera Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[206+ Pages Report] According to Facts and Factors, the global smart camera market size was around USD 5.93 billion in 2022 and is anticipated to reach USD 12.69 billion by the end of 2030. The smart camera industry is expected to grow with a CAGR of 10.14% between 2023-2030.

Market Overview

A smart camera is also known as an intelligent camera or an internet protocol camera. These cameras are designed to capture videos and images with additional features that are beyond the capabilities of traditional cameras.

Smart cameras are capable of capturing high-quality images in terms of resolution, image processing capabilities, and sensor type. The smart cameras have onboard processors like GPUs and CPUs, which help in performing real-time processing. It helps in various tasks like image enhancement, facial recognition, object detection, and several others.

Key Insights

• As per the analysis shared by our research analyst, the global smart camera market size is estimated to grow annually at a CAGR of around 10.14% over the forecast period (2023-2030).
• In terms of revenue, the global smart camera market size was valued at around USD 5.93 billion in 2022 and is projected to reach USD 12.69 billion by 2030.
• Industrial automation is driving the growth of the global smart camera market.
• Based on the type, the embedded segment is growing at a high rate and is projected to dominate the global market.
• Based on the sensor, the complementary metal oxide conductors (CMOS) segment is projected to swipe the largest market share.
• Based on the scanning, the line scan is the fastest-growing segment in the global market.
• Based on the application, the surveillance & security segment is likely to dominate the global market.
• Based on the connectivity, the wireless HART segment is expected to swipe the largest share of the global market.
• Based on the component, the lens segment is expected to swipe the largest share of the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

Growth Drivers

• Industrial automation is likely to drive the growth of the global market.

The emergence of Industry 4.0 and automation capabilities in the manufacturing sector is one of the leading factors driving the growth of the global smart camera market. In industrial settings, these cameras are widely used for automation, inspection, quality control, and several other purposes. It helps people ensure product consistency, detect defects, and optimize the production processes.

Furthermore, the increasing demand for surveillance and security solutions is further likely to encourage the growth of the global market. The residential and commercial settings are widely investing in these cameras for real-time monitoring, access control, and video surveillance to improve the safety and security of their units. For instance, Nikon launched the LuFact ultra-compact machine vision camera to assist in digital transformation at the manufacturing units.

Restraints

• Privacy concerns are likely to hinder the growth of the global market.

The adoption of smart cameras in the workspace or public places is significantly raising privacy concerns. Individuals are a little hesitant to deploy these cameras because of the misuse of collected data and surveillance capabilities. Therefore, such a landscape is likely to restrain the growth of the smart camera industry.

Opportunities

• Remote monitoring is likely to foster growth opportunities in the global market.

Advancements in artificial intelligence and computer technology have significantly enhanced the capabilities of these cameras by helping them monitor and access live videos from the installed units remotely. It is highly helpful for home security, business surveillance, and remote asset monitoring.

For instance, Olympus revealed a 72DL PLUSTM ultrasonic thickness gauge to help cater to required precision thickness measures. The product is well-equipped with advanced algorithms and fast scanning features.

Challenges

• Regulatory compliance is a big challenge in the global market.

It is quite difficult to adhere to data privacy and surveillance regulations in the market. Complying with different regulations in different regions is creating a challenge for manufacturers in the industry, which in turn is expected to slow down the growth of the global smart camera market.

Segmentation Analysis

The global smart camera market can be segmented into type, sensors, scanning, applications, connectivity, components, and region.

By type, the market can be segmented into network-based, personal computer, embedded, single chip, stand-alone, and others. The embedded segment accounts for the largest share of the smart camera industry. The segment is growing heavily because of the widespread integration of cameras into consumer device applications.

Embedded cameras are widely used in smart home devices, laptops, tablets, smartphones, and other consumer electronics. These cameras cater to a large number of purposes like video recording, photography, and facial recognition for security.

Additionally, the ongoing advancements in camera technology, like improved low light performance, better image processing, and higher resolution sensors, further appeal to embedded cameras in different devices.

By sensor, the market can be segmented into complementary metal oxide semiconductors (CMOS) and charged coupled devices (CCD). The complementary metal oxide conductors (CMOS) segment is anticipated to register a notable growth in the global smart camera market during the predicted period.

CMOS sensors are preferred over CCD sensors because of the various advantages, like faster read-out speeds, lower production cost, and lower power consumption. They are more popular because of their compatibility and versatility with integrated circuits, which help manufacturers to easily incorporate the additional functionalities and features into the smart cameras.

By scanning, the market can be segmented into line scan and area scan. The line scan is the fastest-growing segment in the global smart camera market during the forecast period. The line scan cameras click one line at a time using a linear sensor. Line scan cameras are ideal for applications when the items are moving, like surface defect detection, web inspection in printing and packaging, and conveyor belt inspections. The line scan technology captures the image continuously by scanning a single line of pixels rapidly.

By application, the market can be segmented into machine vision, biometric & access control, transportation & logistics, automated sorting, inspection and quality assurance & surveillance & security. The surveillance & security segment is likely to dominate the smart camera industry. The increasing security concerns in both residential and commercial units have significantly raised the demand for surveillance and security systems. These cameras help people get real-time monitoring insights and recording capabilities.

Furthermore, these cameras help in remote monitoring capabilities, thereby helping people to get live footage on smartphones and computers. Additionally, the rising trend of integration of surveillance cameras with home automation and security systems is further appealing to people, thereby raising the demand in the market.

By connectivity, the market can be segmented into wireless HART, Bluetooth, and Wi-Fi. The wireless HART segment is expected to swipe the largest share of the global market. Wireless HART is widely used in industrial areas to monitor and control sensors in an environment where real-time communication, reliability, and compatibility with the existing control systems are important.

By component, the market can be segmented into the display, lens, communication interface, processor, memory, image sensor, and others. Lens is the most sought-after segment expected to grow with a high CAGR during the forecast period. Advancement in lens technology has significantly led to the increasing demand in the segment.

The emergence of high-quality and multi-element lenses with unique coatings and optical stabilization features is highly appealing to consumers because of their versatility and improved image quality. Moreover, some industry applications need specialized lenses for long-distance and macro lenses for closer inspections, which in turn is also likely to boost the sales of the lenses in the market.

Report Scope

Regional Analysis

• North America to dominate the global market during the forecast period.

North America accounts for the largest share of the global smart camera market because of the shifting conditions over time. Moreover, various factors like industrial automation, the increasing need for surveillance & security solutions, and the adoption of advanced technology in different sectors are further widening the scope of the market in the region.

The concept of the smart city in the region is leading to the deployment of smart cameras in urban environments, which in turn is expected to foster new growth opportunities in the regional market. Smart cameras are also widely used in retail for customer analytics, loss prevention, inventory management & several others. Moreover, it is playing a crucial role in the healthcare sector by helping in patient monitoring and asset tracking.

Asia Pacific is expected to grow steadily in the forthcoming years because of various factors like the adoption of Industry 4.0 practices, rapid industrialization, and growth of the FMCG sector. For instance, Samsung launched ISOCELL in June 2022. It is a 200MP camera 1/1.4 inch in size and is likely to have 12% less pixel size to make big things come in small packages.

Competitive Analysis

The key players in the global smart camera market include:

• Sony Corporation 
• Canon Inc. 
• Samsung Electronics 
• Nest 
• Arlo Technologies 
• Ring 
• Hikvision 
• Axis Communications 
• D-Link Corporation 
• Bosch Security and Safety Systems 
• FLIR Systems 
• Wyze Labs 
• TP-Link 
• Eufy 
• Reolink 

For instance, Canon revealed the Canon PowerShot Pick in July 2022. The product is the first ever smart camera that automatically swipes treasured moments so people can focus on enjoying the moments.

The global smart camera market is segmented as follows:

By Type Segment Analysis

• Network-Based
• Personal Computer
• Embedded
• Single Chip
• Stand-Alone
• Others

By Sensors Segment Analysis

• Complementary Metal Oxide Semiconductors (CMOS)
• Charged Coupled devices (CCD)

By Scanning Segment Analysis

• Line Scan
• Area Scan

By Applications Segment Analysis

• Machine Vision
• Biometric & Access Control
• Transportation & Logistics
• Automated Sorting
• Inspection
• Quality Assurance, Surveillance & Security

By Connectivity Segment Analysis

• Wireless HART
• Bluetooth
• Wi-Fi

By Components Segment Analysis

• Display
• Lens
• Communication Interface
• Processor
• Memory
• Image Sensor
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America