Intelligent Camera Market Growth Analysis | 2021-2026

Market Insights

The intelligent camera market was estimated at USD 4.7 billion in 2020 and is likely to grow at a CAGR of 9.5% during 2021-2026 to reach USD 8.1 billion in 2026.

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What is an intelligent camera?

An intelligent camera, also known as a smart camera, is referred to as an image processing system that is designed to automate decisions in an industrial capacity. These cameras are considered as a hybrid of digital cameras and smartphones based on their usage and applications. These cameras mainly comprise two essential components that are standalone vision system and an inbuilt image sensor. Smart cameras are also capable of reprogramming and enable in enhancing communication that offers benefits to machine vision systems.

Key Players

Key players operating in the intelligent camera market are-

• Australian Wax Co (Australia),
• Brick Packaging LLC (The U.S),
• Calwax, LLC (The U.S),
• City Company Seals Ltd (UK),
• The British Wax Refining Company Ltd (UK),
• Blended Waxes, Inc. (The U.S),
• The Darent Wax Company Ltd (UK),
• Southwest Wax LLC (The U.S),
• Oakbank Products Limited (UK), and
• Jax Wax Pty Ltd. (Australia).

Market Dynamics

Diverse production application for surveillance and security applications coupled with robust technological developments in improving quality imaging is a key factor driving the product demand.

• Also, the transformation of embedded system designs, image sensors, and smart lenses is expected to further bolster the market growth.
• Moreover, governmental norms to set up security & surveillance systems in public spaces are further expected to offer lucrative opportunities to the market participants.
• However, a lack of standardization for the installation of intelligent cameras is likely to hinder market expansion.

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Market Segmentation

Sensor Type Trends

By sensor type, the intelligent camera market has been bifurcated into CMOS and CCD.

• The CMOS sensor type dominated the global market in 2020 and is likely to register a steady CAGR during the review period.
• This is mainly ascribed to its increasing adoption in security & surveillance systems.
• Also, low power consumption, smaller size, faster frame rate, ease of integration, and lower production cost of CMOS sensors, further drive the segment growth.

Regional Trends

Based on region, Asia Pacific witnessed the largest share in 2020 and is likely to grow at a robust CAGR in the following years. This is mainly attributed to the technological advancements taking place in the region.

The Asia Pacific is also emerging as a production hub for intelligent cameras. The military & defense, transit facilities, and public spaces demand high security, thus propelling regional growth. China, Japan, India, and South Korea are the major contributing countries.

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COVID-19 Impact on the Intelligent Camera Market

The intelligent camera industry was moderately hit by the outbreak of the coronavirus pandemic as almost every industry was working remotely. As there were few people outside and in office, government offices, as well as in the military, there was declining demand for security & surveillance systems, further affecting the demand for intelligent cameras. However, these cameras helped in contact tracing to trace the people infected with the virus.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Target Audience

The following is a list of the customers that the Intelligent camera market aims to convert the most:

• Intelligent Camera companies
• Intelligent Camera retailers
• Military companies
• Security & surveillance companies
• Government bodies
• Housing societies

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