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Smart Camera Market Projected to Amplify by 2020
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Smart camera is still considered as niche market owing to less number of players operating in the global smart camera market. Smart camera is used for various purposes including automated inspection for quality assurance, part sorting and identification, code reading and verification (barcode, data matrix and alphanumeric data), visual sensor networks and detection of intruders, fire or smoke detection. Also, used for web inspection (inspection of continuous flow of material such as coils, tubes, wires and extruded plastics).
North America has the largest market share for smart camera, followed by Europe and Asia-Pacific. The U.S. is the largest market for smart camera globally owing to its wide area of application. Asia-Pacific region is expected to witness double digit growth in the forecasted period owing to the increasing domestic demand in the emerging markets of India and China.
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Advancement in technology paired with varied application of smart camera is driving the global smart phone market. Additionally, consumer desire to have digital camera combined with features resembling smartphone is expected to increase demand of smart camera to some extent. However, smartphone with better camera quality can hinder the growth of smart camera.
Consumer demanding more of smartphone resembling camera is prompting various software companies to invest in the smart camera manufacturing. Some of the major companies operating in the global smart camera market are Canon, Nikon, Panasonic, Samsung, Sony, Fujifilm, Olympus and Polaroid.
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