SMART CAMERA MARKET ANALYSIS

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Coherent Market InsightsMarket Research and
Business Consulting Serviceshttps//www.coheren
tmarketinsights.comSMART CAMERA MARKET
ANALYSIS
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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.

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Market Dynamics- Drivers

• 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.
• 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.
• 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.

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• 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.

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Market Dynamics- Restraints

• 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
• .
• 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.
• 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.

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Market Opportunities

• 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
• 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.
• 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.

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 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.

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•  
• Segment information

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Market Trends

• 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.
• 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.

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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.

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Key Developments

• 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.
• 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.
• 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.
• 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.

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