February 2024
15 Jul 2024
The global AI camera market revenue was valued at USD 8.2 billion in 2023 and is poised to grow from USD 10.09 billion in 2024 to USD 67.41 billion by 2033, at a CAGR of 23.50% during the forecast period 2024 – 2033. The growth of this AI camera market is due to the growing inclination of the users and getting attracted towards more advanced technology-based devices such as devices with machine learning (ML) and artificial intelligence (AI).
The AI camera market provides cameras that are designed in a way that allows artificial intelligence to take better-quality pictures. It identifies objects automatically and enhances the picture quality by adjusting color contrast and all the settings required to give the best picture. By using AI cameras, companies get huge amounts of data, which is further used to understand customer requirements and develop business.
In AI cameras, AI sensors and chips are incorporated with built-in high-processing memory and power. These advancements make such cameras fast working and improve visualization. While compared with normal cameras, AI cameras are highly advanced as they set their focus by finding people automatically and identifying places and people. AI cameras are capable of monitoring safety threats and managing air condition, lighting, and HVAC. Almost all smartphone companies are adding this feature of AI cameras, which is increasing their market sales to a higher level.
Rising usage of smartphone surveillance cameras is driving the AI camera market
As smartphone penetration among the youth population is growing rapidly, the use of AI cameras to get better pictures with perfect filters to provide high-resolution results is driving the AI camera market. The need for surveillance cameras for safety purposes is increasing in several sectors, such as residential, industrial, and commercial. Industries use such AI cameras to serve various purposes, such as optimization processes, quality enhancement, and safety concerns. The camera can detect the work and ensure its safety. Such smart surveillance cameras are used in all sectors like government, corporations, and personal security and safeguarding assets. They are widely used for authentication, device management, recognition of emotions, and many more. These cameras can cover 360-degree angles to capture everything happening all around it.
The usage of electronic devices, such as smartphones, laptops, tablets, computers, etc., is growing rapidly in today's market, driving the AI camera market exponentially. Moreover, smartphone device manufacturers, businesses, and users worldwide are incorporating AI into all the pre-existing systems, which ultimately raises the demand of the market. Industries benefit by using such cameras to maintain their record for increased efficiency, and higher productions within less time are encouraged to install these AI cameras. For such reasons, the growth of the AI camera market is quick and high.
Storage with safety and managing such huge data create trouble for industries to manage. To monitor these cameras and segregate useful data out of all need skilled persons and accessibility of AI platforms. AI cameras are high in cost which is difficult to access for all is also a challenge in the AI camera market. Privacy concerns and the risk of misuse of data create hindrances in the growth of the market.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 10.09 Billion |
| Market Revenue by 2033 | USD 67.41 Billion |
| Market CAGR | 23.50% from 2024 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Recent Development by Google
North America held the largest share of the AI camera market in 2023 due to the presence of multiple key technology companies and AI camera manufacturers. The government initiative to incorporate AI in various sectors and law enforcement energies is also generating development chances for the market. The healthcare sector is also growing exponentially, and so is the utilization of AI cameras and, hence, the market.
Europe held the second-largest share of the AI camera market in 2023 due to the rise in the usage of AI cameras for safety purposes and to enhance business by improving customer experiences. In the U.K., the quickest growth in the market is observed, whereas Germany has a huge market.
Asia-Pacific is observed as the fastest-growing market during the forecast period due to the rising acceptance of advanced technology. Because of the richness of cost-inexpensive employees and raw material compensations, the zone accounts for a considerable market stake in the wide-reaching AI camera market. Countries like China and Japan are considered the local market influencers, with noteworthy advances in surveillance, user retail, and electronics.
Rising use of AI cameras in all sectors
AI cameras are useful in the healthcare sector due to high-resolution imaging, which helps researchers study precisely and adopt proper treatments to cure patients successfully. AI cameras use artificial intelligence to improve security services and automation in several sectors, such as smart cities, transportation, and the healthcare sector. These features of detecting abnormal activities and storing huge amounts of data are increasing the AI camera market. The rise of various smart technologies and IoT are influencing the market to grow rapidly. The incorporation of AI cameras in government sectors is also increasing due to the ease of monitoring them.
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