VALLEY COTTAGE, N.Y.--(BUSINESS WIRE)--Global sales of smart cameras are expected to reach US$ 3,374 Mn by the end of 2015, fuelled by strong demand from consumer electronics industry. An estimated 30 Mn smart cameras are forecasted to be sold by 2015-end, according to a research report by research and consultancy firm Future Market Insights (FMI).
Innovation in smart lenses, adoption of CMOS based sensors, and enablement of social media connectivity of consumer smart cameras are the key trends shaping the smart camera market. Increasing application of smart cameras in healthcare and education sectors are other key trends analysed by FMI in its research report.
Consumer Segment to Account for the Bulk of the Demand
Consumer segment accounts for the highest demand for smart cameras. As per FMI’s estimates, it represented nearly 26% of the market revenue in 2014. Sales of smart cameras in the consumer segment are expected to reach US$ 856.4 Mn in 2015, up from US$ 649 Mn in 2014. Nearly 7.45 Mn smart cameras are expected to be sold in the consumer electronics industry by 2015-end.
Healthcare and pharmaceutical is the second-largest end-use sector for smart cameras. Use of smart cameras for real-time surgeries and development of smart pills is forecasted to provide growth opportunities for manufacturers in the future.
Sales of smart cameras in healthcare and pharmaceutical sector are expected to reach US$ 582.2 Mn in 2015, up from US$ 426.2 in 2014. Demand for smart cameras from healthcare and pharmaceutical sector is expected to reach over 5 Mn units by 2015, an increase of nearly 1.4 Mn units over 2014.
Asia Pacific Excluding Japan (APEJ) is the largest market in terms of value, followed by North America and Western Europe. Strong demand for consumer electronics, and healthcare and pharmaceutical sectors is expected to fuel the demand for smart cameras in APEJ.
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Future Market Insights is a leading market intelligence and consulting firm delivering syndicated research reports, custom research reports and consulting services. Our research services cover global as well as regional emerging markets such as GCC, ASEAN and BRICS.