The Latin America, Middle East and Africa AI Camera Market would witness market growth of 25.5% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 7,367.1 thousand units, showcasing a growth of 26.7% (2023-2030).
Software for artificial intelligence cameras is used in smartphones and cameras to recognize scenes and images. An AI-based camera comprises the cost of AI embedded into the cameras and the services required to support AI platforms. Concerns about public security and safety are driving up demand for technically sophisticated surveillance systems, which in turn is increasing demand for these highly advanced cameras. In addition, the proliferation of intelligent CCTV cameras at traffic signals with government agencies for detecting and recognizing license plates on moving and stationary vehicles contributes to expanding the market.
AI cameras play a crucial role in creating smarter, safer cities. They help in traffic management, public safety, and environmental monitoring. For instance, AI cameras can identify traffic violations, optimize traffic signal timings, and monitor air quality for pollution control. These are used in precision agriculture to monitor crop health, identify pests, and optimize irrigation. This high-speed connectivity is crucial for autonomous vehicles and live video streaming applications. Generative Adversarial Networks (GANs) are used to create realistic images, particularly valuable in applications like virtual reality and gaming. AI cameras can generate lifelike content, improving user experiences.
The need for enhanced surveillance and security in public and private sectors drives the demand for AI cameras in the LAMEA region. Several cities in the LAMEA region are investing in smart city initiatives, leveraging AI cameras for traffic management, environmental monitoring, and public safety. Retailers in this region are increasingly adopting AI cameras to analyze customer behavior, optimize store layouts, and enhance the shopping experience through personalized recommendations and in-store marketing. These factors will propel the growth of the market across the LAMEA region in upcoming years.
The Brazil market dominated the LAMEA AI Camera Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $797 million by 2030. The Argentina market is showcasing a CAGR of 26.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 25.2% during (2023 - 2030).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Type, the market is segmented into Surveillance Cameras, Smartphone Cameras, Digital Cameras, Industrial Cameras and Others. Based on Technology, the market is segmented into Image/Face Recognition, Computer Vision, Voice/Speech Recognition, Context Awareness and Others. Based on Vertical, the market is segmented into Consumer Electronics, Government & Law Enforcement, Sports, Healthcare, Agriculture, Retail, Transportation, Automotive, Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide AI Camera Market is Projected to reach USD 38 Billion by 2030, at a CAGR of 22.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Axis Communications AB, Bosch Security Systems GmbH, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Huawei Technologies Co., Ltd., Johnson Controls International PLC, LG Electronics, Inc. (LG Corporation), Nikon Corporation, Panasonic Holdings Corporation, and Samsung Electronics Co., Ltd.
By Component
By Type (Volume, thousand units, USD Million, 2019-2030)
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By Vertical(Volume, thousand units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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