[PDF] Smart Camera Market Key Drivers to Improving Quality Outcomes
United States/WA: The global smart camera market is estimated to account for US$ 8,203.1 Mn in 2019 and is expected to grow at a CAGR of 23.3% % over the forecasted period 2019-27.
Report Pages:[130 Pages]
The Competitive Area of the Smart Camera Market is Defined by Key Players Like:- XIMEA GmbH, Fujifilm Corporation, Samsung Electronics Co., Ltd., Matrox Imaging, Canon Inc., Vision Components GmbH, Nikon Corporation, Microscan Systems, Inc., Sony Corporation, Hero Electronix Polaroid Corporation, Panasonic Corporation, and Olympus Corporation.
A Smart Camera is used for a connected camera that allows users to perform some additional tasks, apart from capturing an image, such as real-time video analysis, information sharing, and information extracting. A smart camera is a vision system with built-in relays, pneumatic valves, or actuators. A smart camera is a digital camera with more network and connectivity specifications. Smart cameras have many field applications such as rotation of parts, detection of position, web inspection, unattended surveillance, code reading and verification, part sorting and identification, biometric recognition, robot guidance, non-contact measurements, etc.
Smart cameras include various components such as display, processor, memory, lenses, image sensors, communication interface, etc. They can be integrated with smartphone applications and personal computers. Moreover, a smart camera can share pictures and videos directly on various social media platforms and photo-sharing portals. The diverse applications of smart cameras for security and surveillance and increasing demand for smart cameras with additional features are major factors fueling the global smart camera market. Governmental norms to set up security and surveillance systems in public spaces are also driving market growth. For instance, according to IHS Markit, one billion surveillance cameras are expected to be installed around the world by 2021.
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However, factors such as the high cost of smart cameras, lack of standardization for the installation of smart cameras, and smartphones with better camera quality are expected to hamper the smart camera market growth. Moreover, the use of smart cameras in industries such as entertainment, education, and healthcare is increasing due to productive research interest and increasing social acceptability. For instance, a camera is used during capsule endoscopy to record images of digestive tracks. Moreover, the adoption of smart lenses is a major trend in the smart camera market. For instance, Samsung offers a range of interchangeable NX smart lenses to enhance the photography experience.
The increasing preference for smart homes may present significant growth opportunities in the smart camera market. In terms of geography, the smart camera market is divided into six regions, such as North America, Asia Pacific, Europe, South America, the Middle East, and Africa. Key players involved in the market are focused on launching new products to enhance their product portfolio. Moreover, they are focused on manufacturing technologically advanced products to meet the growing demand for smart cameras. For instance, in 2019, Yi technology launched the Yi Dash Camera in India, while Panasonic launched LUMIX S1H, a digital single-lens camera.
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