AI camera market is anticipated to grow at a CAGR of 12.8% during the forecast period (2023-2030). AI Camera is an essential aspect of every industry. AI Camera can help organizations to improve their security posture by reducing the risk of human error, improving efficiency, and accelerating response times to security incidents, by automating tasks such as gathering evidence and taking corrective actions. For instance, in December 2020, Milesight launches the AI Camera Series which provides high quality image and intelligent functions. Powered by AI chip, it will greatly enhance the monitoring performance and save human labor. Milesight AI Camera provides high quality image and intelligent functions, greatly enhancing the monitoring performance and save human labor.

Segmental Outlook 

The global AI Camera market is segmented on the type and technology. Based on the type, the market is sub-segmented into smartphone cameras, surveillance cameras, and DSLRs. Based on the technology, the market is sub-segmented into image/ face recognition, speech/ voice recognition and computer vision. Among the technology segment, the surveillance cameras sub-segment is anticipated to hold a considerable market share. It offers several benefits including easy installation along with flexible infrastructure. People around the globe are increasingly deploying advanced AI cameras majorly surveillance for applications such as traffic monitoring, parking management, and public security protection in commercial or residential communities.

The Smartphone Cameras Sub-Segment is Anticipated to Hold a Considerable Share of the Global AI Camera Market

Among the type, the smartphone cameras sub-segment is expected to hold a considerable share of the global AI camera market. The segmental growth is attributed to the increasing demand for improved and advanced features in smartphone cameras. By installing AI cameras in smartphones offers features such as facial recognition, image processing, and others. Thus, several smartphones manufacturers have started offering cellphones embedded with AI camera in order to stay competitive in the market and gain consumer attention. For instance, in August 2023, Google announced to launch Google Pixel 8, Pixel 8 Pro which will be equipped with AI camera features such as assistant voice replies. The new features will use AI to minimize background noise in videos, and captures group photo.

Regional Outlook

The global AI camera market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Europe is anticipated to hold a prominent share of the market around the globe, owing to the increasing investments in the development of AI camera-based infrastructure.

Global Artificial Intelligence (AI) Camera Market Growth by Region 2023-2030

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global AI Camera Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the continuously rising integration of advanced technologies such as AI cameras and others in the government/ public infrastructure. For the same, the Asian countries are witnessing an increase in the introduction of new projects. For instance, in September 2023, Pune Railway Station is set to partner with JioThings Ltd., a subsidiary of Jio Platforms Ltd. It is pilot project which aims to install 4 AI-based internet protocol (IP) cameras in a month to enhance surveillance in the station. 

Furthermore, countries including China, Japan, and South Korea holds a strong base of smartphone manufacturers around the globe. These smartphone manufacturers are increasingly focusing on launching new products integrated with AI cameras, which is another factor propelling the regional market growth. For instance, In September 2023, Lava announced to launch Blaze Pro 5G with 50-megapixel dual AI rear camera. The camera offers a range of shooting modes, including film, slow motion, time lapse, UHD, gif, beauty, HDR, night, portrait, AI, pro, panorama, filters, and intelligent scanning. 

Market Players Outlook

The major companies serving the AI camera market include Samsung Electronics, Sony Corp., Xiaomi Inc, Honeywell International Inc., Canon Inc., Nikon Corp., Huawei Technology Co. Ltd., LG Electronics, HikVision, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2022, Arducam partnered with OStream to power its latest device, the OCam "the first AI camera". OCam automatically add context to video and audio streams by using edge AI. It identifies real world objects and adds that metadata into the Object MP4 format.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global AI camera market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.