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Global Speech Recognition AI (Artificial Intelligence) Camera Market – Industry Trends and Forecast to 2029

Semiconductors and Electronics

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Global Speech Recognition AI (Artificial Intelligence) Camera Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Nov 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Speech Recognition AI (Artificial Intelligence) Camera Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 14,290.20 USD Million
Diagram Market Size (Forecast Year) USD 44,634.71 USD Million
Diagram CAGR %

Major Markets Players

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Global Speech Recognition AI (Artificial Intelligence) Camera Market, By Product (Smartphone Cameras, Surveillance Cameras, DSLRs, Others), Vertical (Automotive, Enterprise, Consumer, Banking, Financial Services and Insurance (BFSI), Government, Retail, Healthcare, Military, Legal, Education, Others), Type (4K, 8K, Others) – Industry Trends and Forecast to 2029.

Speech Recognition AI (Artificial Intelligence) Camera Market

Speech Recognition AI (Artificial Intelligence) Camera Market Analysis and Size

The rise in the adoption of artificial intelligence and the smart cameras is the factor boosting the market's growth over the forecasted period. Consumers worldwide are adopting artificial intelligence for a vast range of applications such as computer vision, speech/voice recognition and other related factors. As a result, manufacturers are launching AI enabled next-gen cameras with artificial intelligence, fueling the market's growth.

Global speech recognition AI (artificial intelligence) camera market was valued at USD 14,290.20 million in 2021 and is expected to reach USD 44634.71 million by 2029, registering a CAGR of 15.30% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Speech Recognition AI (Artificial Intelligence) Camera Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Copper Cable, Fiber Optic), Cable Category (CAT3, CAT5, CAT5E, CAT6, CAT6A, CAT7, Multimode Optical Fiber, RG6, Others), Application (Networking, Non-Networking), End Use (Industrial, Enterprise, IT and Network Security, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

SAMSUNG (South Korea), Sony Corporation (Japan), Xiaomi. (China), Honeywell International Inc. (U.S.), Canon U.S.A., Inc. (U.S.), Nikon India Pvt Ltd (India), Huawei Technologies Co., Ltd. (China), LG Electronics. (South Korea), Google (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Apple Inc. (U.S.), Fujitsu (Japan), Huddly (Norway), IBM (U.S.), Autodesk Inc. (U.S.), Oracle (U.S.), Microsoft (U.S.), SAP (Germany)

Market Opportunities

  • Rising adoption of the cloud based services
  • Enhanced efficiency and other factors

Market Definition

The speech recognition artificial intelligence camera is the smart service used to capture the voice recognition imaging. This multimodal architecture makes it easier to create contactless user experiences for vision AI-based systems for surveillance or industrial automation factors.

Global Speech Recognition AI (Artificial Intelligence) Camera Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Growing demands of artificial intelligence

The development of artificial intelligence in various organizations drives the market growth. It involves custom-designed hardware with complex algorithm and software to recognize speech images and perform various other tasks more efficiently and accurately. The increasing demand for high-speed networks in manufacturing facilities to analyze real-time data, enhance production processes, and provide secure and smooth data transmission is also a factor driving the market's growth over the forecasted period.

Opportunities

  • Growing Penetration of cloud-based services

The growing penetration of cloud-based services in the information technology sector is estimated to generate lucrative opportunities for the market, which will further expand the future speech recognition AI (artificial intelligence) market's growth rate. Additionally, the technological advancements of cloud-based services, such as enhanced efficiency of the smart camera and others in enterprises, government bodies and telecom sectors, will also offer numerous growth opportunities for the direct attached artificial intelligence (AI) storage system market over the forecasted period.

Restraints/Challenges

  • Data security of cloud-based services

The data security and the factors leading to cybercrime, cyber threat and others due to the generated data is expected to obstruct market growth.

  • Lack of awareness regarding artificial intelligence

The lack of awareness regarding the artificial intelligence technologies in developing nations is the important factor projected to be challenge for the speech recognition AI (artificial intelligence) camera market over the forecast period.

This speech recognition AI (artificial intelligence) camera market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the speech recognition AI (artificial intelligence) camera market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Covid-19 Impact on Speech Recognition AI (Artificial Intelligence) Camera Market

The recent outbreak of coronavirus had a negative impact on the speech recognition AI (artificial intelligence) camera market. The market faced disruption in supply chains, lesser availability of workforce, fluctuations in prices and availability of raw materials which hampered the market largely. However, with the gradual upliftment of restriction and restoration of business operations, the overall industry is expected to grow steadily. Also, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue, and the market is estimated to expand.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In 2021, Eagle Eye Networks (U.S.) announced an acquisition of artificial intelligence leader Uncanny Vision India, accelerating the company’s leadership in providing AI and analytics to make customer’s business more efficient and the world safer.

Global Speech Recognition AI (Artificial Intelligence) Camera Market Scope

The speech recognition AI (artificial intelligence) camera market is segmented on the basis of product, vertical and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Smartphone Cameras
  • Surveillance Cameras
  • DSLRs
  • Others

Vertical

  • Automotive
  • Enterprise
  • Consumer
  • Banking, Financial Services and Insurance (BFSI)
  • Government
  • Retail
  • Healthcare
  • Military
  • Legal
  • Education
  • Others

Type

  • 4K
  • 8K
  • Others

Speech Recognition AI (Artificial Intelligence) Camera Market Regional Analysis/Insights

The speech recognition AI (artificial intelligence) camera market is analyzed and market size insights and trends are provided by product, vertical and type as referenced above.

The countries covered in the speech recognition AI (artificial intelligence) camera market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the speech recognition AI (artificial intelligence) camera market due to the increasing number, awareness, and availability of experienced experts within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising demand of direct attached artificial intelligence (AI) storage system and the growing adoption of artificial intelligence in financial sector within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Speech Recognition AI (Artificial Intelligence) Camera Market Share Analysis

The speech recognition AI (artificial intelligence) camera market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to speech recognition AI (artificial intelligence) camera market.

Some of the major players operating in the speech recognition AI (artificial intelligence) camera market are

  • SAMSUNG (South Korea)
  • Sony Corporation (Japan)
  • Xiaomi. (China)
  • Honeywell International Inc. (U.S.)
  • Canon U.S.A., Inc. (U.S.)
  • Nikon India Pvt Ltd (India)
  • Huawei Technologies Co., Ltd. (China)
  • LG Electronics. (South Korea)
  • Google (U.S.)
  • Hangzhou Hikvision Digital Technology Co., Ltd. (China)
  • Apple Inc. (U.S.)
  • Fujitsu (Japan)
  • Huddly (Norway)
  • IBM (U.S.)
  • Autodesk Inc. (U.S.)
  • Oracle (U.S.)
  • Microsoft (U.S.)
  • SAP (Germany)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Speech Recognition AI (Artificial Intelligence) Camera Market will be worth USD 44634.71 million by 2029 during the forecast period.
The Speech Recognition AI (Artificial Intelligence) Camera Market growth rate is 15.30% during the forecast period.
The development of artificial intelligence is the growth driver of the Speech Recognition AI (Artificial Intelligence) Camera Market.
The product, vertical and type are the factors on which the Speech Recognition AI (Artificial Intelligence) Camera Market research is based.
Eagle Eye Networks (U.S.) announced an acquisition of artificial intelligence leader Uncanny Vision India, accelerating the company’s leadership in providing AI and analytics to make customer’s business more efficient and the world safer is the latest development in the Speech Recognition AI (Artificial Intelligence) Camera Market.
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