Smart Cameras Market – Industry Trends and Forecast to 2028
Data Bridge Market Research analyses that the smart cameras market will exhibit a CAGR of 10.20% for the forecast period of 2021-2028. Therefore, the smart cameras market would stand tall by USD 11.13 billion by 2028.
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Global Smart Cameras Market Scope and Market Size
The
smart cameras market is segmented on the basis of type, component, technology,
application and connectivity. The growth amongst the different segments helps
you in attaining the knowledge related to the different growth factors expected
to be prevalent throughout the market and formulate different strategies to
help identify core application areas and the difference in your target market.
·
The
smart cameras market on the basis of type has been segmented into stand- alone
smart cameras, single-chip smart cameras, embedded systems smart cameras and PC
and network- based smart cameras.
·
Based
on component, the smart cameras market has been segmented into display, image
sensors, processors, lens and others.
·
On the
basis of technology, the smart cameras market has been segmented into sensors
and scanning.
·
On the
basis of application, the smart cameras market is segmented into video
surveillance, consumer electronics, industrial, transportation, automobile,
medical and others. Sensors segment is sub-segmented into CCD and CMOS.
Scanning segment is sub-segmented into line scan and area scan.
· On the basis of connectivity, the smart cameras market is segmented into Wi-Fi, Bluetooth, wireless HART and others.
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Market Analysis and Insights of Smart Cameras
Market
Growth
and expansion of security and surveillance industry, rise in the demand for
digital cameras along with the features resembling smartphone, and increasing application
of smart cameras by a wide range of end use applications such as video
surveillance, consumer electronics,
industrial, transportation, automobile, medical and others are the
major factors attributable to the growth of smart cameras market.
Smart cameras are those image processing systems
that are used for monitoring industrial automation. Also known as
intelligent cameras, smart cameras comprise of standalone vision system and an
inbuilt image sensor. This results in its application by a wide range of
industry verticals.
Rising focus on the adoption of better security
solutions will emerge as the major market growth driving factor. Growing
digitization of emerging economies like India and China and rising research and
development proficiencies for the development and advancement of technology
involved will further aggravate the market value. Growing adoption of automated
technologies by the industries and growth and expansion of semiconductors
industry especially in the emerging economies will further carve the way for
the growth of the market.
However, high costs associated with the initial
investment and maintenance will act as a growth restraint for the market.
Growing availability of smartphones with advanced camera quality will further
dampen the growth rate of the market. Dearth of technical expertise in the
underdeveloped economies is another market growth restraint.
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