New York, U.S., May 3, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to comprehensive research report by Market Research Future (MRFR), “Smart Camera Market” by Type, By Sensor Type, By Scanning Type, By Application & Region – Forecast to 2027, Size of the market will reach USD 5,926.4 million, growing at a compound annual growth rate of 9.57% by 2027.

Market scope:
As manufacturing companies increasingly adopt smart cameras, the smart camera industry is gaining momentum. The fact that smart cameras are used in many production processes such as barcode reading, machine vision, defect detection, product inspection, piece counting and surface inspection is increasing the demand for smart cameras in the industrial sector. Additionally, with the advent of Industry 4.0 revolution, there is a paradigm shift towards factory automation that uses smart technologies such as smart cameras, thus fueling the growth of the market.

The Dominant Key Players in the Smart Cameras Market Covered Are:

• Arlo (Sweden)
• Bosch Security Systems Inc. (Germany)
• Canon Inc. (Japan)
• Flir Systems Inc. (USA)
• Panasonic Corporation (Japan)
• Polaroid Corporation (Sweden)
• Raptor Photonics Ltd. (Ireland)
• Samsung Co.Ltd. (South Korea)
• Om Digital Solutions Corporations (UK)
• Sony Corporation (Japan)
• Watec Co.Ltd. (United States)
• D-Link Corporation (Taiwan)
• Honeywell International Inc. (USA)
• Wyze Labs Inc. (USA)
• Hanwha Techwin (South Korea)

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Exclusively encompassed USP market:
Market factors
Increase in usage in different applications to drive market growth
The increasing use of smart cameras for surveillance and security needs in different applications such as residential infrastructure, corporate and government infrastructure, commercial facilities, transit facilities, military and defense and public spaces will drive the market growth over the forecast period.

Availability of alternatives to act as a market restriction
The availability of smart camera alternatives coupled with high installation costs may act as a constraint for the market during the forecast period.

Lack of technical knowledge to meet the market challenge
The lack of technical knowledge regarding the use of such a camera may pose a challenge for the market during the forecast period.

Browse In-Depth Market Research Report (147 Pages) on Smart Camera Market:
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Market Segmentation Covered by Research:
The global smart camera market is divided on the basis of type, sensor type, scanning type, application and connectivity.

By type, stand-alone will dominate the market over the forecast period.

By sensor type, CMOS will dominate the market during the forecast period.

By scan type, area scan will spearhead the market during the forecast period.

By application, surveillance and security will occupy the largest market share during the forecast period.

By connectivity, Bluetooth will dominate the market over the forecast period.

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Regional analysis
APAC will dominate the smart camera market
With the largest market share in the region, Asia-Pacific is expected to dominate the global smart camera market. This is due to the fact that a significant number of electronic component and semiconductor manufacturers and suppliers are promoting smart camera products to achieve the necessary results. In addition, in the Asia-Pacific region, China, the Republic of Korea, Taiwan and Japan are the most important countries. The Asia-Pacific market for smart cameras for security and surveillance is growing owing to the technological advancements in the region. Apart from that, the region stands out as a smart camera manufacturing powerhouse. The application segmentation of the Asia Pacific Smart Cameras for Security and Surveillance market that is expected to grow the most during the forecast period are Public Places, Military & Defense, and Transit Facilities. Various countries in the Asia-Pacific region such as Japan, China, and South Korea are pushing the market for smart cameras for security and surveillance. The Asia-Pacific region is now dominating the smart camera market and will continue to do so during the forecast period. This is due to the increasing deployment of smart cameras in the security and military sectors. Due to the increased penetration of electronics and the steady growth in the security and surveillance industry, the Asia-Pacific region is expected to witness significant growth during the forecast period. Product innovation in China, Korea and Singapore is driving market growth in this region. Additionally, during the projected period, rapid economic development in China, Japan, and India is expected to fuel the expansion of the smart camera market. The fastest growing economies in the world, India, China and Japan, as well as the world’s largest market for smart cameras, make it advantageous for a manufacturer to invest in this region. The main markets for security and surveillance cameras in newly built infrastructure are Korea, China and Singapore. The need for security and surveillance cameras and systems has increased dramatically due to rapid urbanization and contemporary building infrastructure.

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North America to Witness Favorable Growth in Smart Camera Market
Due to the presence of sophisticated technologies, the North American region is expected to increase significantly over the forecast period. In North America, the United States and Canada are the most powerful countries. In 2018, North America dominated the global smart camera market, accounting for 35% of the market. This is due to the increasing use of smart cameras in sectors such as aerospace, electronics, defense and semiconductors in this region. The wide range of applications for smart cameras, such as quality assurance, verification, room sorting, intruder detection, code reading, surveillance, photo taking, traffic monitoring and l video recording, has resulted in unprecedented support from the aforementioned industries.

Impact of COVID-19 on the Global Smart Camera Market
Supply chain disruptions, fluctuations in demand share, economic situations, as well as the immediate and long-term impact of the novel coronavirus have negatively impacted the growth of the smart camera market. Such an epidemic brought economic activity to a standstill, thus plunging the world economy into a very deep recession. Additionally, with roots originating in China, supply chains around the world are facing unprecedented shutdowns and disruptions. Following the easing of lockdowns and restrictions across the globe, the market is expected to return to normal in the coming days.

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