Press release
Smart Camera Market : Projection of Each Major Segment over the Forecast Period.
Smart cameras are also called as intelligent cameras or connected cameras. Technological advancement in camera industry and machine vision industry has resulted in the evolution of smart camera technology. Smart camera not only allows users to capture images but also extract images, get real time view, and share those images. Smart Camera have various industrial as well as consumer applications which helps in driving the growth of global smart camera market.The Global smart camera market is estimated to be worth US$ 2469.0 Mn in 2014 and expected to reach US$ 9829.1 Mn by 2020, reflecting a CAGR of 23.84% during the forecast period.
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Lens component market was valued at US $ 604.9 Mn in 2014 with 24.5% market share. It is expected to dominate throughout forecasting period with increase in 150 BPS. Processor is the second largest component in terms of market share i.e. 22.5% in 2014.
The global smart camera market is also segmented on the basis of application which includes transportation & automotive, healthcare & pharmaceutical, food & beverages, military & defence, commercial area, consumer and other segments. Consumer segment is the largest application which accounts for 26.3% market share in 2014 but it is likely to lose its market share by 590 BPS in 2020.
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Geographically, the market is segmented into seven regions, North America, Latin America, Western Europe, Eastern Europe, Asia – Pacific (excluding Japan), Japan as a separate region and Middle East & Africa. Asia – Pacific region is largest in terms of market size in 2014 with 32.7% market share, whereas Latin America fastest growing region with CAGR of 31.7%.
Some of the market leaders in the global smart camera market are Samsung Electronics Co., Ltd., Canon Inc., Nikon Corporation, Sony Corporation and Panasonic Corporation, Olympus Corporation, Polaroid Corporation, Microscan Systems, Inc., Vision Components GmbH, Matrox Imaging, and XIMEA GmbH.
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