AI-Based Fever Detection Camera Market Insights And Remarkable Growth Rate Forecast Till 2027 | Fortune Business Insights™
"Need for Early Detection of COVID-19 Symptoms to Boost Growth"
The demand for AI-based fever detection cameras is surging presently owing to the rapid spread of the coronavirus infection. The vaccine for the infection is still at the developmental stage. Hence, it is creating tremendous pressure on the healthcare system worldwide. To lower this pressure to a certain extent, several tech companies are working persistently to develop new AI-based fever detection cameras for the early detection of fever as it is considered to be the earliest symptom of coronavirus. As these cameras deliver updates regarding an individual’s body temperature in real-time, they are gaining more popularity. Once the person is detected, he/she is then isolated and taken for further testing. However, these cameras don’t always provide accurate temperature readings. These are also expensive in nature. It may hamper this market growth in the coming years.
The global AI-based fever detection camera market size is USD1.28 billion by 2020 and is projected to reach USD 2.19 billion by 2027, exhibiting a CAGR of 8.0% during the forecast period.
"Public Places Segment to Grow Steadily Owing to Higher Installation of Cameras in Crowded Venues"
In terms of end-user, the market is divided into banks, enterprises/factories, public places, hospitals, airports, and others. Out of these, the airport segment is set to hold the largest market share in the coming years. The public places segment held 13.8% AI-based fever detection camera market share in 2020. This growth is attributable to the increasing installation of such cameras in crowded venues to detect high temperatures in people.
"North America & Europe to Lead Backed by Rising Number of COVID-19 Cases"
In 2020, North America procured USD 0.46 billion in terms of revenue. The region would be at the forefront, followed by Europe on account of the rising number of coronavirus cases in developed countries, such as the U.K., Germany, and the U.S. Also, these countries have adopted innovative technologies at the earliest. To reduce the spread of this disease, many companies are developing the latest fever detection cameras based on AI. Asia Pacific, on the other hand, is expected to be the fastest-growing region throughout the forthcoming years stoked by the rising number of new product launches by industry giants and start-ups.
The market is fragmented with the presence of multiple large, medium, and small enterprises. They are presently trying to overcome the spread of the deadly coronavirus infection worldwide. To do so, they are investing hefty amounts of money in research and development activities for creating new AI-based fever detection cameras. Below are a couple of the latest industry developments:
- May 2020: Staqu, a Gurgaon-based start-up introduced JARVIS, its latest thermal camera under the video analytics platform. This new technology will be able to detect body temperatures and will immediately alert the system if anybody with a temperature of 37°C and above passes through the cameras.
- April 2020: Platinum CCTV, a provider of security cameras unveiled its AI-powered body temperature sensing fever camera. It would aid in providing visual security and in the identification of body temperatures individually.
Fortune Business Insights™ presents a list of all the manufacturers operating in the market. They are as follows:
- AnyConnect Private Limited
- Athena Security, Inc.
- Australia PTY LTD.
- FLIR Systems, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Johnson Controls
- Kogniz, Inc.
- Mantra Softech (India) Pvt. Ltd.
- Nippon Avionics Co., Ltd.
- Platinum CCTV
- Vantage Security
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Name: Ashwin Arora
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