Smart Camera Market - Economic, Consumer and Industry Trends for 2018

Smart camera also known as intelligent camera, is an image processing system for monitoring industrial automation. These cameras consist of two essential components: standalone vision system and inbuilt image sensor. Smart cameras are reprogrammable and help in improved communication which benefits machine vision systems. They epitomize trends in latest camera technology and not only capture large number of pictures, but are also capable of extracting application specific information. These smart cameras have the capability to be integrated with personal computers and smartphone applications. Smart camera can directly share the pictures and videos on various photo-sharing portals and social media platforms.

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The smart camera market deals with the various smart cameras that include smart vision, surveillance systems, intelligent and smart video cameras. Building smart cameras involves applying technologies from machine vision, computer vision, and embedded systems. These cameras are basically used for monitoring and surveillance purposes in industries, home, and other verticals. In the real world, there are various applications of smart cameras such as for industrial machine vision and video surveillance. Industrial machine vision is possibly the most favored application of smart cameras.

Smart cameras have enormous hardware power for speedy processing which has been successfully integrated into various manufacturing segments. Various industrial processes like verification, part sorting, quality assurance, visual sensor networks, reading codes, detection of intruders, and traffic monitoring are currently undertaken with the help of smart vision cameras.

Based on visual information gathered by smart cameras, an intelligent surveillance system monitors the traffic and can emphasis more on traffic events that causes accidents.

Diverse application of smart cameras for security & surveillance and tremendous technological advancement in improved quality imaging are major factors driving the global smart phone market. Consumer demand for digital cameras with extra features that resembles smartphones is expected to increase the demand of smart cameras. Additionally, transformation of embedded system designs, smart lenses, and image sensors are also expected to drive the growth of the market. Governmental norms to set up security and surveillance systems in public spaces are also fuelling the growth of the global smart camera market.

However, smartphones with better camera quality can hinder the growth of the smart camera market during the forecast period. Lack of standardization for the installation of smart cameras is further expected to dampen the market growth. Further, high cost of smart cameras is anticipated to hinder the market growth in the near future.

The global smart camera market is segmented on the basis of application and sensors type. On the basis of application, the market can be segmented into public spaces, military & defense, transit facilities, commercial facilities, enterprise & government infrastructure, and residential infrastructure. Based on sensors type, the market can be segmented into CMOS sensors and CCD sensors.

Geographically, Asia Pacific region is expected to witness high growth in the smart camera market. Product innovation in Korea, China, and Singapore is propelling the growth of the market in this region. Further, rapid economic development in Japan, China, and India, is also anticipated to drive the growth of the smart camera market during the forecast period. North America and Europe are expected to contribute to the growth of this market as well. Adoption of advanced technologies is also anticipated to foster the demand for smart cameras in this region over the forecast period.

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Growing consumer demand for smartphones that resemble cameras is encouraging various software companies to invest in smart camera manufacturing. Some of the key players in the global smart camera market are Nikon Corp., Panasonic Corp., Samsung Group, Sony Corp., Olympus Corporation, Polaroid Corporation, Ata-Vision, Bosch Security Systems, Basler Vision Technologies, Raptor Photonics, and Canon Inc.

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