Software-defined cameras is an upgrade of traditional cameras, which have evolved from single-data-source processing to multi-dimensional data integration and from intensive manpower management to artificial intelligence technology. A software-defined camera works on the continuous evolution and development of artificial intelligence (AI) algorithms. Moreover, software-defined cameras with open-ended platforms provide integration capabilities to deploy AI in different security scenarios. Providers of software-defined cameras are trying to produce a wide variety of security scenarios such as situation awareness, face checkpoint, intelligent transportation surveillance (ITS), and vehicle checkpoint. Moreover, software-defined cameras have various features such as HD video capture, wired and wireless network transmission, intelligent cloud storage, and intelligent Big Data analytics.
Software-defined cameras work in accordance with situations and enable continuous algorithm upgrades, unlike traditional cameras. Moreover, with advancement in technologies and increasing competition in the market vendors are trying new technologies to develop innovative products. Software-defined cameras offer open-ended platforms and allow for integration with different deep-learning algorithms. Furthermore, artificial intelligence provides a wide range of applications in software-defined camera (SDC) market, where with the help of AI chip the camera can support the trillion-level computing processing through neural networks, deep learning algorithms and enables to implement the target classification (motor vehicle, non-motor vehicle, pedestrian), attribute recognition (vehicle model, color and license plate).
Increasing concerns about security, advancement in technologies, and theft issues are some of the major factors driving the global software-defined camera (SDC) market. Increasing population, rise in the incidence of criminal activities, and increasing strictness in traffic rules are also estimated to boost the demand for software-defined cameras during the forecast period.
However, certain factors such as changes in weather conditions and high initial operating and maintenance costs associated with software-defined cameras are hampering the software-defined camera (SDC) market. Moreover, difficulties in installation and a low rate of success are challenges faced by software-defined camera providers. Advancements in technologies, such as artificial intelligence, Internet of Things (IoT), and machine learning, are creating lucrative opportunities for global the software-defined camera (SDC) market. Moreover, Big Data and cloud-based technologies offer an open video surveillance platform.
The global software-defined camera (SDC) market can be segmented based on form factor, application, industry, and geography. Based on form factor, the software-defined camera (SDC) market can be classified into box camera, dome camera, and bullet camera. In terms of application, the software-defined camera (SDC) market can be divided into license plate recognition, surveillance, advanced driver assistance systems (ADAS), and facial recognition (identity access management). Based on industry, the software-defined camera (SDC) market can be segmented into government, transportation, commercial, residential, and smart cities. Among these, the government segment can be sub-divided into traffic surveillance and toll road cameras. The transportation segment can be sub-segregated into railway stations, airports, and marine. The commercial segment can be sub-classified into retail, BFSI, education, and others (such as healthcare and hospitality). Based on geography, the global software-defined camera (SDC) market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
North America and Europe are projected to be the leading regions of the global software-defined camera (SDC) market in the near future. Vendors in these regions provide cutting-edge solutions. Similarly, rising demand for installment projects and upgrade of standard cameras to software-defined cameras in Asia Pacific is expected to augment the software-defined camera (SDC) market in the region during the forecast period. Furthermore, growing adoption of automated technologies and increasing asset management are anticipated to drive the global software-defined camera (SDC) market in the near future.
Key players operating in the global software-defined camera (SDC) market are Huawei Technologies Co., Ltd., Vivint, Inc., ADT Inc., SimpliSafe, Inc., Bosch Security Systems, Inc., Canon Inc., Flir Systems, Inc., Panasonic Corporation, Samsung Techwin Co., Ltd., Raptor Photonics Ltd., Watec Co., Ltd., and Sony Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.