Market Overview
The global AI camera market refers to intelligent cameras enabled with artificial intelligence (AI) capabilities for automating and enhancing imaging applications across consumer electronics and various industries. Valued at $7.9 billion in 2022, the AI camera market share revenue is slated to rise at a CAGR of 15.00% from 2023 to 2032 propelled by the introduction of AI system-on-chips, edge analytics adoption, and strategic alliances amongst leading players.
Key Companies
Offering AI Camera Solutions Prominent companies foraying into the AI camera space with cutting-edge products include:
- Canon: Cameras with auto-tracking, auto-framing and eye detection powered by deep learning algorithms
- Sony: Computer vision-based Face/Scene Detection, subject tracking and mode suggestions
- Nikon: ML-enabled image classification and light estimation for efficient workflows
- Samsung: Semiconductor solutions for integrated smart camera designs across segments
- Intel: VPUs and software tools to run AI apps efficiently on edge devices like cameras
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Market Segmentation:
By Components, Applications and End Use By component, the AI camera industry is bifurcated into hardware namely sensors, microprocessors, and others as well as AI tech-enabled software. Revenue from hardware currently dominates this segment on account of declining camera sensor and cloud computing costs.
Key application areas driving AI camera adoption consist of smartphones, automotive systems, machine vision platforms, medical imaging tools, drones and surveillance systems amongst others. Smartphones account for the leading share fueled by enhanced photography abilities offered by virtual assistants like Siri, Alexa, and Google Assistant.
Analysis by end-user industries indicates rising implementation across commercial spaces, public sector organizations as well as residential settings. Commercial spaces lead in terms of market value attributable to workflow optimization benefits using visual data.
Top Impacting Factors:
Rapid 5G proliferation allowing real-time video analytics paired with incrementing demand for edge computing solutions across retail, manufacturing and automotive sectors is significantly fostering segmental outlook over the forecast timeline.
Moreover, the emergence of integrated AI camera system-on-chips and chips supporting analytics workloads like object detection will further boost product adoption. However, difficulties related to model retraining and accuracy issues are challenges restraining uptake among camera OEMs.
Industry Latest News:
Developments As part of key updates, Canon unveiled two ML-enabled cameras in December 2022 – the PowerShot Z30 and IXUS I7 targeted at vloggers and travel photographers respectively. Both support vertical video shooting alongside smart features.
Likewise, Sony expanded the VENICE series of digital cameras with the launch of VENICE 2 in September 2022. It incorporates an 8.6K full-frame image sensor and AI-based HDR features for enhanced image precision even in low light.
The proliferating integration of AI into photography and cinematography gear indicates the technology’s immense lucrative potential across consumer and industrial applications through the next decade.
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