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Market Insight- Global Smart Camera Market

Market Overview

A smart camera or intelligent camera a term used for a connected camera that allows users to perform some additional functions including information extracting from captured image, information sharing, and real-time video analysis. A smart camera is a standalone, self-contained vision system with built-in actuators, pneumatic valves or relays. Smart cameras have numerous field applications including non-contact measurements, robot guidance, biometric recognition, part sorting and identification, code reading and verification, unattended surveillance, web inspection, detection of position and rotation of parts, etc. Smart cameras include different components including memory, image sensors, communication interface, lenses, processor, display, etc.

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.

Market Dynamics- Drivers

  1. High growth of electronics and semiconductor industry is expected to drive growth of the global smart camera market during the forecast period

The electronics and semiconductor industry across the globe is growing at a significant rate, owing to constant adoption of automation, networking, mobility, and smart project initiatives. According to the India Brand Equity Foundation (IBEF), the Indian semiconductor design market was valued at US$ 14.5 billion in 2015 and is expected to reach US$ 52.6 billion by 2020, exhibiting a CAGR of 29.4%. According to the same source, the Indian appliance and consumer electronics market was valued at US$ 10.93 billion in 2019 and is expected to reach US$ 21.18 billion by 2025. Thus, high growth of the semiconductor and electronics industry is expected to drive growth of the market during the forecast period.

  1. Rising concerns regarding food safety and quality are expected to boost the global smart camera market growth over the forecast period

Across the globe, food quality and safety regulations have become very strict. The food & beverage industry is bound to follow these regulations in order to maintain safety and quality of food products. For instance, MAF FRANCE, a French multinational designer and manufacturer of bagging, palletization and packing systems for fresh vegetables and fruit, has adopted GLOBAL SCAN, a sophisticated, fully automatic vision system, which allows packers to grade fruit accurately, as per the market requirement. Hence, these factors are expected to boost the market growth in the near future.

  1. Increasing investments in research and development activities are expected to propel the global smart camera market growth during the forecast period

Key players in the market are focused on research and development activities, in order to innovate novel products. These players are constantly adding new features and technologies in their products, which in turn, is expected to drive the global smart camera market growth over the forecast period. For instance, in March 2015, Nikon Corporation introduced a DSLR camera ‘D7200’, which is equipped with the latest autofocusing system.

APAC region dominated the global smart camera market in 2019, accounting for 46.1% share in terms of value, followed by North America, Europe, North America, Latin America, and Middle East & Africa respectively.

Smart Camera  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. High costs related to single-chip smart camera is expected to hinder the global smart camera market growth over the forecast period

Single chip smart camera is one of the lucrative concepts in smart camera systems. However, these camera systems are extremely expensive due to high manufacturing costs. Single chip smart cameras are also called as System on Chip smart cameras, in which all the component segments are integrated on a single chip. Being an innovative concept, single chip smart cameras are expensive, which is one of the major factors restraining their market growth. Thus, these factors are expected to hinder the market growth in the near future.

  1. Low availability of software applications is expected to hamper the global smart camera market growth over the forecast period

 Smart cameras are targeted at the consumer segment have relatively limited software applications as compared to industrial smart cameras. Availability of a limited number of software applications is resulting in limited functions. Limited applications also restrict the use of smart cameras in different verticals. Many industrial smart camera players are focused on developing their own software for smart cameras though the consumer segment is still lagging in terms of software application development. Hence, these factors are expected to hamper the market growth in the near future.

  1. Lack of standardization is expected to restrain growth of the global smart camera market during the forecast period

Lack of standardization such as interchangeability of lenses from brand to brand, which is the major restricting factor in the global smart camera market. Companies provide smart camera component segments in varying forms, which results in component segment incompatibility between brands.

Market Opportunities

  1. Rising preference for smart homes can present major growth opportunities

Consumers across the globe, especially in Western Europe are preferring smart homes as a result of policy enforcement by governments in this region. Man consumers are adopting smart appliances including smart cameras. Market players can capitalize on the untapped potential by offering novel products in the high potential regions.

  1. Growing adoption of intelligent transport system can pose major growth opportunities

Many countries across the globe, especially metropolitans in Asia Pacific are adopting smart camera-enabled intelligent transport systems. This is done to provide sophisticated transport services. For instance, in 2014, ComfortDelGro Corporation, a Singapore-based cab operator, announced trials for a new in-vehicle smart camera that is capable of alerting cabbies about potentially dangerous road situations.

  1. Implementation of smart city initiative by a number of governments is expected to offer lucrative growth opportunities

Governments over various countries, especially Asia Pacific countries are investing significantly on smart city projects. For instance, in June 2015, the Government of India launched ‘100 Smart Cities Mission’, under which the government approved an investment of US$ 114 billion.

Smart Camera  | Coherent Market Insights

Source: Coherent Market Insights

 Segment information:

In global smart camera market, by component segment, lens sub-segment dominated the global smart camera market in 2019, accounting for 25.8% share in terms of value, followed by processor, display, memory, communication Interface, image sensor and others respectively.

Smart Camera  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Adoption of smart lenses is a major trend in the market

Smart lenses have revolutionized digital camera photography. Smart lenses offer high-quality images and are equipped with power zoom and shoot-in-dark capabilities. As a result of this, the user gets an enhanced experience and improved images. For instance, Samsung offers a range of interchangeable NX smart lenses along with an NX smart camera for enhancing photography experience.

  1. Growing applications in entertainment, healthcare, and education industries

The use of smart cameras in industries such as healthcare, education, and entertainment is increasing, owing to improving global economic growth, increasing social acceptability and productive research interest. For instance, capsule endoscopy involves the use of micro smart camera-based devices to record images of digestive tracks. Moreover, consumer smart cameras facilitate online content sharing.

Competitive Section

Key companies operating in the global smart camera market are 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.

Key Developments

  1. Key companies in the market are focused on product launches, in order to expand product portfolio. For instance, in August 2019, Panasonic Corporation introduced LUMIX S1H, which is a new digital single-lens mirrorless camera. The camera is equipped with a full-frame image sensor and professional-level video quality.
  2. Major players in the market are involved in product launches, in order to enhance the market presence. For instance, in September 2016, Microscan Systems Inc. introduced AutoVision Machine Vision Software for its MircoHAWK MV Smart Cameras.

A smart camera or intelligent camera a term used for a connected camera that allows users to perform some additional functions including information extracting from the captured image, information sharing, and real-time video analysis. A smart camera is a standalone, self-contained vision system with built-in actuators, pneumatic valves or relays. It also offers real-time video analysis and is used in advanced monitoring, quality checking, robotic guidance system, and various machine vision applications. Smart cameras include different components including memory, image sensors, communication interface, lenses, processor, display, etc.

Market Dynamics

Increasing demand for smart cameras in consumer electronics devices is anticipated to drive the smart camera devices market in the forecast period. Smart devices from technology giant such as Google Inc., Microsoft Corporation and many other companies are focusing on providing the consumer with a home camera device. For instance, in October 2019, Google Inc., a US-based technology company launched Google Nest, it smart device equipped with artificial intelligence technology. All these smart cameras can be controlled with a smartphone connected with the internet. Increasing internet penetration in people’s life is expected to further drive the smart camera market in the forecast period.

However, increasing security concerns about people's privacy and data theft may hamper the growth of the global smart camera market in the forecast period. To tackle this privacy issue many technology companies are providing a physical button to turn off the camera.

Market Taxonomy

This report segments the global smart camera market on the basis of Component, Application and region. On the basis of Component, global smart camera market is segmented into Image Sensor, Memory, Processor, Communication Interface, Lenses, Display, Others. On the basis of Application, the global smart camera market is segmented into Transportation & Automotive, Healthcare & Pharmaceutical, Food & Beverages, Military & Defense, Commercial Area, Consumer Segment and Others. On the basis of region, global smart camera market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global smart camera market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global smart camera market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global smart camera market includes 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.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global smart camera market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global smart camera market.

Detailed Segmentation:

  • Global Smart Camera Market By Component:
    • Image Sensor
    • Memory
    • Processor
    • Communication Interface
    • Lenses
    • Display
    • Others
  • Global Smart Camera Market  By Application:
    • Transportation & Automotive
    • Healthcare & Pharmaceutical
    • Food & Beverages
    • Military & Defense
    • Commercial Area
    • Consumer Segment
    • Others
  • Global Smart Camera Market  By Region
    • North America
    • Europe
    • Asia-Pacific
    • Middle-East and Africa
    • Latin America
  • Company Profiles
    • XIMEA GmbH*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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
    • Olympus Corporation.

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Smart Camera Market, By Component, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Image Sensor
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Memory
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Processor
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Communication Interface
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Lenses
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Display
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Smart Camera Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Transportation & Automotive
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare & Pharmaceutical
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Food & Beverages
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Military & Defense
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Commercial Area
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Consumer Segment
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Smart Camera Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • XIMEA GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fujifilm Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Samsung Electronics Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Matrox Imaging
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Canon Inc.,
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Vision Components GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Nikon Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Microscan Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sony Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hero Electronix
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Polaroid Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Panasonic Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Olympus Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Frequently Asked Questions

This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
• By Component • By Application • By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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