“Smart Camera Market: Global
Demand Analysis & Opportunity Outlook 2024”
The global smart camera market
is segmented into sensor type such as CMOS (Complementary Metal Oxide
Semiconductor) sensor and CCD (Charged Couple Device) sensor. Among these
segments, CMOS sensor segment is expected to occupy the largest market of
overall smart camera market. Further, the rise of the CMOS sensor segment is driving
on the back of growing usage of CMOS sensor smart camera for surveillance
purposes due to smaller size, low power consumption, faster frame rate and
others. Moreover, easy installation and advanced monitoring features is also
expanding the market of global CMOS sensor.
Global smart camera market is expected to register a CAGR of 18.2% over
the forecast period. Moreover, the global smart camera market is projected to expand at USD 6,200 Million by
the end of 2024. Apart from this, the market of smart camera is expanding on the back of rising personal
disposable income coupled with growing adoption of smart gadgets.
The public spaces segment by
application is projected to mask the highest CAGR during the forecast period
i.e. 2017-2024. Further, growing implementation of smart camera in public
places such as railway station, public squares and parks for surveillance
purposes is believed to be dynamic factor behind the rapid growth of smart
camera market across the globe. In terms of regional
platform, Asia-Pacific region grabbed the largest market of smart camera in 2016
due to emerging economies such as China and India. Additionally, product
innovation by manufacturing companies in South Korea, China and others is also
positively impacting the growth of smart camera market in Asia-Pacific region.
Advancement
in imaging quality
Technological advancement in
camera to improve the imaging quality coupled with growing demand for
surveillance across the city due to increasing prevalence of robbery, accidents
and others is one of the major factor boosting the demand for smart camera.
Further, integration of internet of things (IoT) into camera has improved the
sharing of photos which is likely to boost the demand for smart camera. These
factors are further propelling the growth of smart camera market.
Favorable
government initiatives
Rapid urbanization coupled with
positive GDP figures of the developed and developing nations and increasing
government regulations for improving the security and surveillance are
envisioned to intensify the growth of smart camera market by the end of 2024.
On the contrary, lack of
standardization regarding the installation of smart camera is projected to
hinder the growth of smart camera market over the forecast period.
The
report titled “Smart Camera Market: Global Demand Analysis & Opportunity
Outlook 2024” delivers detailed
overview of the global smart camera market in terms of market segmentation by
vision
system, by sensor type, by application, by distribution channel, by price range
and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global smart
camera market which includes company profiling of
Samsung Electronics Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd.
, Nikon Corp., Canon Inc., Datalogic S.P.A, Panasonic Corp., Sony Corp.,
Polaroid Corporation, Microscan Systems Inc. and Nest Labs. The
profiling enfolds key information of the companies which encompasses business
overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global
smart camera market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
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