Camera Technology Market Outlook (2022 to 2032)

The global camera technology market size is estimated to stand at USD 25.3 billion by 2032. It is likely to exhibit a considerable CAGR of around 12% in the estimated time frame. A valuation of USD 8.1 billion was anticipated for the global market in 2022.

Need for intelligent surveillance systems is developing across a variety of industries. These include healthcare, automotive, industrial, defense & aerospace, and retail. Use of surveillance objects in cell phones, as well as other consumer electronics devices is on the rise.

The science and skill of manipulating light to produce images are at the heart of camera technology. It also includes disciplines such as digital photos, lenses, computers, darkroom techniques supply (memories), imaging sensor design, photonics, photography equipment, lighting, or other visual analytics media. These are used to create a camera abstract by projecting a picture onto a computer monitor into strong daylight.

In terms of the current CCTV technology, the past few years saw the emergence of a new wave of scalable, remote-first systems. Cloud-native solutions, video analytics powered by artificial intelligence, and transition from analogue to 100% streaming video systems are three key developments in video security that are picking up steam.

Key companies are investing in ‘as a service’ (AaS) solutions for configurable ways to introduce technological advances into current processes and guidelines. They are also striving to comply with Open Network Video Interface Forum guidelines. These solutions allow footage to be turned into useful information by means of artificial intelligence.

Hours of redundant video footage can now be converted into data using artificial intelligence. It allows for the analysis of trends and patterns in video surveillance.

Security teams can nowadays learn more from the minutes of accessible footage that were previously overlooked. It is opposed to the past practice of simply learning from instances that were manually identified.

Attributes Key Insights
Camera Technology Market Estimated Size (2022E) USD 8.1 billion
Projected Market Valuation (2032F) USD 25.3 billion
Value-based CAGR (2022 to 2032) 12%
USA Value-based CAGR (2022 to 2032) 10.8%

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2017 to 2021 Camera Technology Sales Outlook Compared to Demand Forecast from 2022 to 2032

As per Future Market Insights (FMI), the global camera technology market witnessed a CAGR of 15.6% in the historical period. It is likely to showcase steady growth at 12% CAGR in the estimated period from 2022 to 2032.

The consumer electronics sector has been at the forefront of incorporating camera technology into smartphones and laptops in recent years. Demand for camera technology is projected to increase significantly between 2022 and 2032.

Demand for digital cameras is rising as a result of growing popularity of photography. With a digital camera, photos and films can be captured & stored digitally rather than being printed to film as they were with previous analog cameras.

It has led to an increasing need for tiny, lightweight, and high-quality cameras. Photography has emerged as a result of increasing use of digital cameras and cell phones. It has further created a rising demand for high-quality cameras with user-friendly controls and affordable prices.

Top Camera Technology Market Trends Listed by Future Market Insights (FMI)

  • Increasing use of automobiles and advancements in technology are two main factors projected to boost camera technology demand.
  • In the automobile sector, cameras are currently employed in a variety of applications, including parking assistance systems and driver support systems.
  • The automobile industry is developing improved camera technology as a result of rising demand for advanced driver assistance systems (ADAS).
  • Need for cutting-edge security and surveillance systems is rising in response to growing security and safety concerns.
  • Modern security and surveillance systems are being developed in various parts of the world owing to the latest camera technology.
  • Demand for better camera technology is rising as smartphones are gaining popularity.
  • Consumers nowadays primarily use their cell phones as cameras.
  • Hence, sophisticated camera technologies are being developed, which would lead to market expansion.
Sudip Saha
Sudip Saha

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Which Factors are Restraining Camera Technology Demand Worldwide?

  • Market saturation and price sensitivity are a couple of significant factors expected to hinder camera technology sales.
  • Since most users own a smartphone with a decent camera, the market for cameras has become saturated.
  • Sales of standalone cameras have decreased as a result of this and have further restrained the market.
  • Professional-grade cameras and lenses are out of reach for several people due to their expensive nature.
  • Consumers are less inclined to spend money on expensive camera equipment as there are more affordable options available.
  • Smartphone cameras are getting better in terms of photography, which might also restrain the market by 2032.

Which Region would Create New Opportunities for Camera Technology Solution Providers?

Asia Pacific to Witness High Demand for Latest Camera Technology by 2032

Asia Pacific is likely to account for a significant camera technology market share throughout the projection period. Growing need for camera technology in consumer electronics and automotive sectors has led to expansion of the market.

Asia Pacific is set to witness a CAGR of about 48.4% from 2022 to 2032. Nikon Corporation Inc. is one of the leading companies in the field of camera technology in Asia Pacific.

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Country-wise Insights

Why is the USA Showcasing High Camera Technology Demand?

Need to Improve Security across the USA to Fuel Demand for Advanced Camera Settings

The USA camera technology market size is expected to be worth USD 4.0 billion by 2032. It is set to create an absolute dollar growth of USD 2.5 billion in the next ten years.

The USA witnessed growth at a CAGR of 12.2% from 2017 to 2021. It is anticipated to elevate at a CAGR of 10.8% from 2022 to 2032.

In October 2022, USA-based Bosch Security Systems introduced its new FLEXIDOME 5100i cameras. They are equipped with deep-learning video analytics to improve building security.

The FLEXIDOME 5100i gives high-quality images 24/7 by using intelligent infrared illumination technology and HDR. On the other hand, its unique three-step installation concept has reduced installation time.

Would the United Kingdom Showcase Exponential Camera Technology Sales?

Launch of New Products with Modern Camera Technology to Spur Demand in the United Kingdom

The United Kingdom camera technology market is expected to be worth USD 645.3 million by 2032. It is projected to create an incremental opportunity of USD 404.7 million in the forecast period.

The United Kingdom market witnessed growth at a CAGR of 10.8% from 2017 to 2021. It is expected to broaden at a CAGR of 10.4% from 2022 to 2032.

In September 2022, three new HERO11 Black Cameras were launched by GoPro. The United Kingdom-based company launched these cameras to send highlight videos to one’s phone.

Can China become a Leading Camera Technology Manufacturing Hub?

Video Conferencing Experience Demand to Enable China-based Firms to Launch Camera Technology in Smartphones

China camera technology sector is likely to be valued at USD 6.4 billion by 2032. It is estimated to create an absolute dollar opportunity of USD 4.6 billion during the assessment period.

The China market witnessed steady growth at a CAGR of 17.8% from 2017 to 2021. It is expected to showcase decent growth at a CAGR of 13.5% between 2022 and 2032.

In March 2021, China-based Huawei Technologies introduced the Cloudlink Camera 200. A modern 4K UHD PTZ camera is the HUAWEI CloudLink Camera 200.

It offers an unmatched video conferencing experience when used with the company’s UHD video conferencing endpoint range. It can also be used with the firm’s cloud-registered soft clients.

Why is Demand for Security Camera Technology Expanding in Japan?

Emergence of New Security Camera Technology in Japan to Propel Demand by 2032

Japan camera technology industry is anticipated to surge to USD 3.9 billion by 2032. It is predicted to create an absolute dollar opportunity of USD 2.7 billion in the evaluation period.

Japan showcased growth at a CAGR of 15.8% from 2017 to 2021. It is expected to flourish at a CAGR of 12.3% from 2022 to 2032.

In February 2023, for instance, Digital Sight 50M Monochrome Camera was introduced by Nikon Corporation. The new camera enables high-precision analysis for huge quantities of samples. These include cell culture well plates and the collection of 60-megapixel, wide-field-of-view photographs.

The camera can gather photos of regions of interest (ROI) at greater magnifications. It can also take photographs of individual wells in a single shot, making it feasible to find areas without the need for the human eye.

Category-wise Insights

Which is the Most Preferred Component of Camera Technology Worldwide?

Wearable Cameras with Integrated Circuits to Exhibit Astonishing Growth by 2032

Integrated circuits are projected to witness significant growth in the next ten years. These have multiple applications in the consumer electronics and media & entertainment sectors. They are generally used as a base material for the production of cameras.

The integrated circuits segment exhibited a CAGR of around 15.3% from 2017 to 2021. It is predicted to expand at around 11.9% CAGR from 2022 to 2032.

Which Camera Technology is set to Gain Traction Globally?

Need for Machine Vision Cameras with 4K Pixel and Ultra HD Display to Escalate

As per technology, the 4K pixel and ultra HD display segment is anticipated to remain at the forefront by 2032. Expansion of the consumer electronics industry can be associated with increasing need for customized equipment.

CAGR of the 4K pixel and ultra HD display category was around 15.0% from 2017 to 2021. It is expected to flourish at 11.8% CAGR from 2022 to 2032.

Trend for high definition on smart devices has been considerable. It can enhance the overall viewing experience. Rise of large-sized TVs is also expected to drive the segment.

Consumers nowadays are switching from standard definition to high definition resolutions. 4K is an abbreviation for 4,000 pixels in a range of digital formats, primarily used for capturing motion pictures.

Development of military camera technology is anticipated to present profitable prospects. It is due to technical improvements and rising demand for industry 4.0 standards. It would also be attributed to the emergence of industry 5.0.

Competitive Landscape

Due to the presence of firms such as Canon Inc., Sony Corporation, and Nikon Corporation, the global camera technology industry is very competitive. Competitors in the market are concentrating on product introductions to target specialized consumer bases. The market is expected to face tough rivalry from the smartphone industry globally.

A few recent developments in the camera technology market are:

  • In September 2022, Nikon Corporation introduced its NIKKOR Z 17-28mm f/2.8 camera. The ultra-wide-angle zoom lens NIKKOR Z 17-28mm f/2.8 has a depth of field range of 17 to 28 mm. Its fast, fixed maximum aperture is f/2.8. It performs optically quite well. With an overall length of about 101 mm*1 and a mass of around 450 g, the lens adapter is also lightweight and portable.
  • In February 2022, new mic IP Fusion 9000i 9mm cameras were released by Bosch Security Systems. For perimeter detection applications, they offer a high level of situational awareness. The MIC IP fusion 9000i 9mm camera has a single enclosure that houses both a thermal imaging system and a 1080p starlight camera. The camera is able to incorporate data on object recognition from optical and thermal video streams. With the aid of a cutting-edge technique called metadata fusion, it might also show it all in one image. It can withstand any condition, regardless of the lighting.

Scope of the Report

Attribute Details
Estimated Market Size (2022) USD 8.1 billion
Projected Market Valuation (2032) USD 25.3 billion
Value-based CAGR (2022 to 2032) 12%
Forecast Period 2022 to 2032
Historical Data Available for 2017 to 2021
Market Analysis Value (USD billion)
Key Regions Covered North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Countries Covered USA, United Kingdom, Germany, France, Spain, Italy, Japan, China, Singapore, Malaysia, Sri Lanka,Kingdom of Saudi Arabia, United Arab Emirates, South Korea, Finland, Hungary, Rest of the World
Key Segments Covered Component, Technology, Application, Region
Key Companies Profiled Axis Communications AB; Bosch Security Systems; Flir Systems Inc.; Infineon Technologies AG; Nikon Corporation; Occipital Inc.; Panasonic Corporation; Pelco Incorporated; Apple Inc.; Sony Corporation; Red Digital Cinema Camera Company
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives

Camera Technology Market Outlook by Category

By Component:

  • Microcontrollers and Microprocessors
  • Sensors
  • Integrated Circuits
  • Other Components

By Technology:

  • Advanced Camera Tools Technology
  • Depth Sensing Technology
    • Time of Flight
    • Structure Light
  • Infrared and Thermal Technology
  • 4K Pixel and Ultra HD Display Technology
  • Scientific CMOS Image Sensor Technology

By Application:

  • Consumer Electronics
  • Robotics and Gaming
  • Media and Entertainment
  • Automotive
  • Healthcare
  • Defense and Aerospace
  • Industrial

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Frequently Asked Questions

What is the CAGR Prediction for the Camera Technology Market?

The camera technology market is anticipated to register a CAGR of 12% through 2032.

What is the Camera Technology Market Size Projected by 2032?

The projected value of the camera technology market is anticipated to attain USD 25.3 billion by 2032.

Which is the Key Segment in the Camera Technology Market by Component?

The integrated circuits segment takes the lead in the camera technology market, showing an 11.9% CAGR through 2032.

Which Country could Hold High Lucrativeness for Camera Technology?

China's camera technology sector is poised for lucrative growth, targeting a USD 6.4 billion market size by 2032 with a robust 13.5% CAGR.

How was the Historical Performance of the Camera Technology Market?

The global demand for camera technology experienced a CAGR of 15.6% between 2017 and 2021.

Table of Content
	1. Executive Summary
	2. Market Overview
	3. Market Background
	4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
	5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component
		5.1. Microcontrollers and Microprocessors
		5.2. Sensors
		5.3. Integrated Circuits
		5.4. Other Components
	6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology
		6.1. Advanced Camera Tools Technology
		6.2. Depth Sensing Technology
			6.2.1. Time of Flight
			6.2.2. Structure Light
		6.3. Infrared Thermal Technology
		6.4. 4K Pixel and Ultra HD Display Technology
		6.5. Scientific CMOS Image Sensor Technology
	7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
		7.1. Consumer Electronics
		7.2. Robotics and Gaming
		7.3. Media and Entertainment
		7.4. Automotive
		7.5. Healthcare
		7.6. Defense & Aerospace
		7.7. Industrial
	8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
		8.1. North America
		8.2. Latin America
		8.3. Europe
		8.4. Asia Pacific
		8.5. Middle East and Africa
	9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
	10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
	11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
	12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
	13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
	14. Key Countries Market Analysis
	15. Market Structure Analysis
	16. Competition Analysis
		16.1. Axis Communications AB
		16.2. Bosch Security Systems
		16.3. Flir Systems Inc.
		16.4. Infineon Technologies AG
		16.5. Nikon Corporation
		16.8. Pelco Incorporated
		16.9. Apple Inc.
		16.10. Sony Corporation
		16.11. Red Digital Cinema Camera Company
	17. Assumptions & Acronyms Used
	18. Research Methodology
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