Astute Analytica reports that the global Smart Thermal Camera Market size will grow from $18.1 billion by 2027. The global market will record a tremendous compound annual growth rate (CAGR) of 8.2% during the study period, i.e., 2022-2027.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the Smart Thermal Camera Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analysing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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Factors such as rising concerns among the government about public safety, the growing number of vehicles accidents, and the lack of infrastructure are acting as catalysts for the growth of the smart traffic camera market. Additionally, the market growth is directly proportional to the increase in the number of smart cities development projects. Moreover, the growing penetration of analytics software across the world is helping the market to grow further. However, an increasing number of hackers security threats, and high investment for the installment of equipment is expected to act as the barriers to the growth for the smart thermal camera market growth over the forecasting years.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic had a negative impact on various public and government sectors across the world. In contrast, the smart traffic camera market witnessed a gradual growth during the COVID-19 pandemic. The government across various nations installed smart cameras in various places in order to keep a record of the people violating guidelines and lockdown restrictions. Moreover, WHO announced the COVID-19 as a Public Health Emergency. All nations followed similar rules like maintaining social distance, restriction on traveling, imposition of lockdowns to curb the spread of the coronavirus.
Market Growth Factors:
Growing number of smart city development projects
Governments across the world are playing a crucial role in the development of smart cities by taking various initiatives, implementing regulations, and focusing on installing smart devices across their infrastructure. Several smart cities have also installed smart thermal camera within their infrastructure for tolls and ticketing, thereby propelling the growth of the smart traffic camera market. Additionally, the demand smart thermal camera has increased in smart cities to enhance security in order to prevent thefts at night and vehicle tracking services. This factor is expected to support the growth of the market.
Monitor traffic activities in real-time
smart thermal camera have gained traction in the past few years. The government, several enterprises, and residential societies are also using these smart cameras to monitor activities for security and safety purposes. The installation of security camera systems is very easy at places where the power source is available or nearby. These systems are available in all sizes and shapes, small enough that they can be hidden in photo frames, plants, and pictures.
Installation of smart thermal camera require heavy investment
smart thermal camera are integrated with artificial intelligence technology, various sensors, and advanced technologies. These sensors and technologies allow the camera to capture and record images and videos with more clarity. The sensors integrated into these cameras can even detect motion and automatically turn towards the source of the movement. As these cameras can perform multiple jobs, the cost associated with these cameras is very high.
Recent Strategies Deployed in Smart Traffic Camera Market
Partnerships, Collaborations and Agreements:
- Sep-2021: IDEMIA joined hands with Abu Dhabi Police. Under this collaboration, the entities is expected to enhance road safety and adopt the latest and upgraded technological solutions to future-proof the emirate's road infrastructure.
- Sep-2021: Teledyne FLIR joined hands with Plus, a global provider of self-driving truck technology. Under this collaboration, Plus is expected to explore the combination of thermal cameras into their current sensor suite that is expected to help in creating safer autonomous commercial vehicles.
- Jun-2021: Jenoptik teamed up with Smart Mobility Living Lab, one of Europe’s largest Living Labs. Under this collaboration, Jenoptik is expected to help SMLL partners by combining data from in-vehicle roadside sensors and growing situational awareness capabilities, which could be applied across complicated urban environments.
- Apr-2021: Siemens Mobility came into a partnership with HERE Technologies, the location data, and technology platform. Under this partnership, the companies aimed to enhance the quality of life of British citizens by minimizing the time spend in traffic or the pollution caused by congestion.
- Mar-2021: Siemens Mobility joined hands with Bosch, a German multinational engineering and technology company. Under this collaboration, the company is expected to introduce the latest and fully integrated connected vehicle collective perception system that is expected to allow a direct connection between the dual-mode roadside unit and roadside camera on-board intelligence that is expected to send the information to connected vehicles.
- Feb-2021: Kapsch TrafficCom signed a contract with APRR, a highway concessionaire. Under this contract, the companies is expected to implement, operate, and supply multi-lane free-flow tolling systems across France.
- Dec-2020: Kapsch TrafficCom came into a partnership with Ford, an American multinational automobile manufacturer. Under this partnership, the companies is expected to expand their existing core business areas of tolling and traffic management with tolling services and demand management.
- Nov-2020: Sensys Gatso Group signed an agreement with the authority of East Providence. Under this agreement, the entities is expected to work together for School Zone Speed Enforcement and Red Light Enforcement. Moreover, the entities is expected to take an initiative for school zone safety.
- Aug-2020: Siemens Mobility entered into a partnership with WJ Group, the UK’s leading specialist road marking business. Together, the entities is expected to offer systems for temporary automatic speed cameras at road works across the UK. Moreover, Siemens is expected to support WJ by providing intelligent highway infrastructure solutions.
- Apr-2020: FLIR Systems, subsidiary of Teledyne signed an agreement with Foresight Autonomous Holdings, an innovator in automotive vision systems. Together, the companies is expected to work to improve the performance of FLIR Systems' thermal cameras within the QuadSight system to attain better outcomes under harsh weather lighting conditions and to design automotive connectivity solutions.
Acquisitions and Mergers:
- Mar-2021: Siemens Mobility took over Aldridge Traffic Controllers, an international distributor. This acquisition is expected to enable the company to strengthen its core business of traffic management and improve its presence across the APAC market.
- Aug-2020: Motorola Solutions took over Pelco, a global provider of video security solutions. Through this acquisition, the company is expected to continue investing in Video Security Analytics.
- Jun-2020: Motorola Solutions acquired IndigoVision, a U.K.-based provider of end-to-end video security solutions. Under this acquisition, IndigoVision’s products is expected to support Motorola Solutions' available video portfolio that is expected to comprise in-car body-worn cameras, advanced analytics software, and fixed cameras, and is expected to offer improved go-to-market reach over an extensive customer base.
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Product Launches and Product Expansions:
- Oct-2021: Teledyne FLIR released Tau 2+, the highest sensitivity long wave infrared camera. This camera is designed for the most demanding environments, particularly for the detection of the smallest and hardest targets that are unable to be found over long distances.
- Sep-2021: Teledyne FLIR unveiled Elara R-Series Commercial Ground Security Radars and Triton FH-Series Multispectral Fixed Cameras. This series is expected to offer precise detection, alert of threats, and improved perimeter protection.
- Sep-2021: Axis Communications, subsidiary of Canon unveiled AXIS Q1656-LE, a high-performance outdoor-ready box camera. This camera is expected to provide exceptional video quality even in dim light and premium Q-line functionality. This weatherproof and water-resistant camera comprises a built-in wiper to guarantee great images even in rain and snow.
- Sep-2021: Axis Communications, subsidiary of Canon introduced AXIS Q1951-E and AXIS Q1952-E. These cameras is expected to offer reliable verification, detection, and high-quality thermal video streams 24/7, in all weather and any light conditions. Moreover, this camera is expected to be best for boundary security and long-range detection.
- May-2021: Allied Vision expanded its Alvium 1800 CSI-2 camera series with 3 camera models. These models contain CMOS sensors from Sony that are valued in the image processing industry for their high frame rates and high image quality.
- Apr-2021: Axis Communications, subsidiary of Canon released AXIS Q6315-LE, a high-speed PTZ camera. This camera contains IR Illumination and day/night functionality for surveillance in pitch darkness. Moreover, it also comprises the latest generation chip with extended capabilities for analytics, substantially more efficient video compression, and enhanced imaging.
- Feb-2021: Hikvision unveiled an All-Rounder ITS camera. This camera is expected to assist in improving traffic flow and enhancing road safety. In addition, this camera comprises traffic violation detection, vehicle attribute analysis in one housing, varied abilities skills, automated plate recognition, and boasting speed detection.
- Nov-2020: Hikvision introduced Traffic Violation Detection solution. This solution is expected to help in detecting parking and traffic violations over the road network in real-time and support fast, automated incident responses and ticketing deterrents.
- Nov-2020: FLIR Systems, subsidiary of Teledyne released FLIR ThermiCam AI with thermal imaging and the FLIR TrafiCam AI visible camera. These cameras are integrated with Artificial Intelligence to improve traffic flow at intersections and on roadways.
- Nov-2020: Axis Communications, subsidiary of Canon unveiled AXIS Object Analytics. Through this launch, the company aimed to provide classification and detection of vehicles and humans tailored to the surveillance requirement.
- Sep-2020: Axis Communications, subsidiary of Canon introduced AXIS P1455-LE Network Camera. This camera is capable of capturing high-quality images even in dark and light areas. In addition, this camera comprises motion-adaptive exposure to substantially minimize the motion blur from nearby or approaching objects.
Approvals and Trials:
- Apr-2021: Jenoptik Traffic Solutions UK got Home Office approval for a red light enforcement system. This system is expected to use Vector2 automatic number plate recognition camera platform and Jenoptik’s 3D tracking radar.
Geographical Expansions:
- May-2020: Axis Communications, subsidiary of Canon expanded its geographical reach in Kolkata and the eastern India region. Under this expansion, the company is expected to share the successful implementation information of their association with Kolkata Police for surveillance and traffic management across the streets of Kolkata.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Hardware
- Software
- Services
By Camera Type
- Fixed Cameras
- Surveillance Camera
- Red Light Camera
- Mobile Speed Camera
- Others
By Deployment Type
- Traffic Monitoring
- Traffic Enforcement
By Application
- Surveillance Traffic Management
- Toll Management Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Motorola Solutions, Inc.
- Canon, Inc.
- Teledyne Technologies, Inc.
- Siemens AG
- Jenoptik AG
- Sensys Gatso Group AB
- Kapsch TrafficCom AG (Datax Handelsgmbh)
- Hangzhou Hikvision Digital Technology Co., Ltd.
- IDEMIA SAS (Advent International, Inc.)
- Allied Vision Technologies GmbH
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