GITNUX MARKETDATA REPORT 2024

Smart Camera Industry Statistics

The smart camera industry is projected to experience strong growth in the coming years, driven by increasing demand for security and surveillance solutions across various sectors.

Highlights: Smart Camera Industry Statistics

  • The global smart camera market size was valued at USD 1.45 billion in 2020.
  • The smart camera market is expected to grow at a CAGR of 7.4% from 2021 to 2028.
  • Asia Pacific is anticipated to witness the fastest growth over the next decade.
  • Image processing segment dominated the smart camera market with a share of more than 60% in 2020.
  • Stand-alone smart cameras are projected to reach the highest market share by 2025.
  • Consumer application represents the largest segment of the Smart Camera market.
  • The key player in the smart camera market is Canon.
  • The 3D smart camera market is expected to grow at a CAGR of 11.12% from 2021 to 2027.
  • In 2019, the US was the biggest spender on smart cameras.
  • The residential segment makes up approximately 39% of the smart security market.
  • The cost of a smart camera ranges from $20 to $200.
  • Trend analysts predict sales of 26 million smart cameras in 2023.
  • Market revenue from surveillance cameras in the U.S. totalled 2 billion U.S. dollars in 2019.
  • The demand for thermal smart cameras is expected to gain traction owing to the increased security requirements around the globe.
  • Market size for wireless security camera systems was over $1.5 billion in 2019.
  • Japan holds the second-largest market share in the Smart Camera market.
  • Demand for smart cameras is driven by advancements in machine vision technology.
  • North America dominates the global smart camera market in terms of revenue.
  • Growth in the global smart camera market is driven primarily by the increasing adoption of automation systems.
  • The smart home security camera segment is expected to account for over 40% of the global smart home security market revenue by 2025.

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The Latest Smart Camera Industry Statistics Explained

The global smart camera market size was valued at USD 1.45 billion in 2020.

This statistic indicates that the total market value of smart cameras worldwide was estimated to be USD 1.45 billion in the year 2020. Smart cameras are advanced technological devices equipped with features like image sensing, processing capabilities, and connectivity options, enabling them to capture and analyze visual data efficiently. The market size value of USD 1.45 billion reflects the total revenue generated by the sales of smart cameras during that year. This statistic suggests a growing demand for smart cameras as businesses and consumers increasingly adopt these devices for security, surveillance, and other applications, indicating a positive trend in the smart camera market.

The smart camera market is expected to grow at a CAGR of 7.4% from 2021 to 2028.

This statistic indicates that the smart camera market is projected to experience a Compound Annual Growth Rate (CAGR) of 7.4% from the year 2021 to 2028. CAGR is a measure used to assess the annual growth rate of an investment or market over a specified period, providing a smoothed rate of return over that time frame. In this context, a CAGR of 7.4% suggests steady growth in the smart camera market over the next eight years, reflecting increasing demand for these advanced camera technologies across various industries such as security, automotive, healthcare, and consumer electronics. Such growth prospects may be driven by factors like technological advancements, increasing adoption of AI and IoT applications, and rising requirements for surveillance and monitoring systems.

Asia Pacific is anticipated to witness the fastest growth over the next decade.

The statistic ‘Asia Pacific is anticipated to witness the fastest growth over the next decade’ indicates that the countries in the Asia Pacific region are projected to experience significant economic and development growth compared to other global regions in the coming years. Factors driving this anticipated growth may include rising consumption, investment in infrastructure, technological advancements, and increasing trade opportunities. This prediction suggests that businesses and investors may find attractive opportunities for expansion and investment in Asia Pacific due to its promising economic prospects and potential for high returns over the next ten years.

Image processing segment dominated the smart camera market with a share of more than 60% in 2020.

The statistic is indicating that in 2020, the largest portion of the smart camera market was held by the image processing segment, accounting for over 60% of the market share. This means that the use of image processing technology in smart cameras was the most prevalent and widely adopted among the various segments within the market. The dominance of the image processing segment suggests that consumers and industries are increasingly valuing the capabilities and benefits offered by image processing technology in smart cameras, such as improved image quality, advanced features like facial recognition and object detection, and enhanced overall performance.

Stand-alone smart cameras are projected to reach the highest market share by 2025.

The statistic “Stand-alone smart cameras are projected to reach the highest market share by 2025” suggests that independent smart cameras, which can operate on their own without needing to be connected to a central system or network, are expected to gain significant popularity and dominance in the market by the year 2025. This trend indicates a growing preference for standalone smart camera solutions that offer flexibility, ease of installation, and potentially lower costs compared to more complex integrated systems. The projection implies that consumers and businesses are increasingly recognizing the benefits of stand-alone smart cameras for various applications such as security, monitoring, and automation, driving their market share to the forefront of the industry by 2025.

Consumer application represents the largest segment of the Smart Camera market.

This statistic indicates that among all the segments within the Smart Camera market, the consumer application segment is the largest in terms of market share or revenue. This suggests that a significant portion of Smart Cameras are used by consumers for various purposes such as home security, monitoring pets, or capturing personal moments. The dominance of the consumer application segment highlights the popularity and demand for Smart Cameras among individual users, potentially driven by factors such as increasing technological advancements in camera capabilities, affordability, ease of use, and the growing trend of smart home devices. This trend also implies that manufacturers and developers may prioritize innovations and product offerings geared towards enhancing the consumer experience in order to maintain and expand their market share within the Smart Camera industry.

The key player in the smart camera market is Canon.

This statement refers to Canon being identified as the most influential or dominant player in the smart camera market, suggesting that Canon holds a significant market share and has a strong presence in terms of product offerings, brand recognition, technological innovation, or sales performance within the smart camera industry. This statistic implies that Canon is likely a leading competitor in the market, potentially shaping industry trends, setting benchmarks for others, or enjoying a competitive advantage over other companies in developing and selling smart camera products.

The 3D smart camera market is expected to grow at a CAGR of 11.12% from 2021 to 2027.

This statistic indicates that the 3D smart camera market is projected to experience a compound annual growth rate (CAGR) of 11.12% over the period from 2021 to 2027. This growth rate suggests a steady increase in market size and demand for 3D smart cameras over the specified timeframe. With an 11.12% CAGR, it is anticipated that the market will expand significantly, driven by factors such as technological advancements, increasing applications of 3D smart cameras in various industries, and growing consumer interest in smart camera solutions. This forecast provides insights into the potential opportunities and growth prospects within the 3D smart camera market for businesses and investors to consider.

In 2019, the US was the biggest spender on smart cameras.

The statistic “In 2019, the US was the biggest spender on smart cameras” indicates that the United States allocated the most financial resources towards purchasing smart cameras compared to other countries around the world during that year. This suggests a high level of investment and adoption of smart camera technology within the US market. The significant spending on smart cameras could be attributed to various factors such as the increasing demand for surveillance and security systems, advancements in technology, the growing trend of smart homes and businesses, and the overall expansion of the IoT (Internet of Things) ecosystem. This statistic reflects the importance and value that the US places on smart camera technology for various applications across different sectors.

The residential segment makes up approximately 39% of the smart security market.

The statistic indicates that the residential segment accounts for about 39% of the total smart security market. This implies that a significant portion of the smart security market is attributed to products and services aimed at residential consumers, such as smart home security systems and devices. The percentage suggests that the residential segment is a substantial market driver within the overall smart security industry, highlighting the importance of catering to the needs and preferences of homeowners in the development and marketing of smart security solutions. Additionally, this statistic can influence strategic decisions for businesses operating in the smart security market, guiding resource allocation, marketing strategies, and product development efforts to capitalize on the opportunities presented by the residential segment.

The cost of a smart camera ranges from $20 to $200.

The statistic indicates that the cost of a smart camera can vary between $20 and $200. This range suggests that there is a significant difference in pricing among smart cameras available in the market, with some being relatively affordable at $20, while others are priced higher at $200. The variability in cost could be influenced by factors such as brand reputation, features, quality, and technology incorporated in the smart cameras. Consumers looking to purchase a smart camera may need to consider their budget and desired specifications to choose a product that aligns with their needs and preferences.

Trend analysts predict sales of 26 million smart cameras in 2023.

The statistic “Trend analysts predict sales of 26 million smart cameras in 2023” suggests that experts who monitor and analyze market trends are forecasting that the number of smart cameras sold globally will reach 26 million units in the year 2023. This prediction is based on various factors such as consumer demand, technological advancements, and industry trends. It indicates a positive outlook for the smart camera market, with an expected increase in sales volume compared to previous years. This statistic can be valuable for businesses and investors in the smart camera industry to help inform decision-making processes and strategic planning for the upcoming year.

Market revenue from surveillance cameras in the U.S. totalled 2 billion U.S. dollars in 2019.

The statistic ‘Market revenue from surveillance cameras in the U.S. totalled 2 billion U.S. dollars in 2019’ indicates the total amount of money generated from the sales of surveillance cameras in the United States for the year 2019. This figure represents the overall value of surveillance camera sales from manufacturers, distributors, and retailers operating within the U.S. market during that specific year. The market revenue of 2 billion U.S. dollars reflects the significant demand for surveillance cameras in various sectors such as residential, commercial, and government applications, highlighting the importance of security and surveillance in modern society. This statistic provides valuable insight into the size and growth of the surveillance camera market in the U.S. for the specified year.

The demand for thermal smart cameras is expected to gain traction owing to the increased security requirements around the globe.

The statement suggests that there is a growing interest and need for thermal smart cameras in the market due to rising security concerns across different regions worldwide. This indicates that industry experts and analysts anticipate an uptick in the demand for thermal smart cameras, which are tools capable of detecting and monitoring heat signatures to enhance security measures. The expectation of increased traction indicates a potential surge in sales and adoption of these advanced surveillance technologies as organizations and individuals seek to improve their security protocols and capabilities in response to evolving security threats and challenges.

Market size for wireless security camera systems was over $1.5 billion in 2019.

The statistic “Market size for wireless security camera systems was over $1.5 billion in 2019” indicates the total revenue generated by the sales of wireless security camera systems within the market in the year 2019. This figure reflects the substantial financial value of the market segment dedicated to wireless security camera systems, which are likely in high demand due to increasing concerns about home and business security. The $1.5 billion market size suggests a significant level of consumer interest and investment in technologies that provide wireless surveillance and monitoring capabilities, highlighting the importance and growing prevalence of security solutions in today’s society.

Japan holds the second-largest market share in the Smart Camera market.

The statistic that Japan holds the second-largest market share in the Smart Camera market indicates that Japan is a significant player in this particular industry, coming in as the second most dominant country in terms of market presence and influence. This implies that Japanese companies involved in manufacturing and selling smart cameras have captured a substantial portion of the market demand, showcasing their competitive strength and technological advancements in the field. Japan’s position also suggests that it is a key market for smart camera products and innovation, playing a crucial role in shaping the overall dynamics and trends within the industry.

Demand for smart cameras is driven by advancements in machine vision technology.

The statistic suggests that the market demand for smart cameras is primarily influenced by the continual improvements in machine vision technology. Machine vision technology plays a crucial role in enabling smart cameras to perform advanced functions such as object detection, recognition, and tracking with high precision and accuracy. As machine vision technology evolves and becomes more sophisticated, smart cameras are able to offer enhanced features and capabilities, making them more desirable for various applications such as security surveillance, industrial automation, and autonomous vehicles. Therefore, the demand for smart cameras is expected to grow in tandem with the advancements in machine vision technology as businesses and industries seek more efficient and intelligent solutions for their imaging needs.

North America dominates the global smart camera market in terms of revenue.

The statistic that North America dominates the global smart camera market in terms of revenue indicates that the region of North America generates the highest revenue when it comes to sales of smart cameras compared to other regions worldwide. This suggests that North America is a key player in the smart camera industry, likely due to factors such as high demand, strong market presence of smart camera manufacturers, effective marketing strategies, and technological advancements. The dominance of North America in this market highlights the region’s economic power and innovation in the field of smart camera technology.

Growth in the global smart camera market is driven primarily by the increasing adoption of automation systems.

The statistic indicates that the expansion of the global smart camera market can be attributed mainly to the growing utilization of automation systems across various industries and sectors. Smart cameras are advanced devices equipped with computational capabilities that enable them to perform tasks such as image recognition and analysis autonomously. As automation systems become more prevalent in manufacturing, security, healthcare, retail, and other fields, the demand for smart cameras to enhance efficiency, accuracy, and data insights is on the rise. The integration of smart cameras within automation systems allows for real-time monitoring, quality control, and decision-making processes, driving the market’s growth as organizations seek to leverage the benefits of advanced technology for streamlining operations and improving overall performance.

The smart home security camera segment is expected to account for over 40% of the global smart home security market revenue by 2025.

This statistic suggests that the market for smart home security cameras is projected to be a dominant and significant portion of the overall global smart home security market revenue by the year 2025, surpassing 40%. This indicates a growing trend and consumer preference towards adopting smart home security camera systems for residential security purposes. The increasing demand for smart home security cameras may be attributed to their advanced features such as remote monitoring, motion detection, and connectivity with other smart devices which enhance home security and convenience. As a result, companies operating in the smart home security camera industry may experience a surge in market growth and investment opportunities within the next few years.

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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