Promising Potentials in Video Analytics through AI Generate Incremental Opportunities
Construction cameras (time lapse cameras) are being extensively used to extract crucial and actionable data that can benefit project managers, engineers, and contractors to gain an update on progress at jobsites. This is evident since jobsite progress monitoring applications dominate the highest revenue among all applications in the construction camera (time lapse camera) market, with an estimated global volume of ~1,100 units by the end of 2030. As such, companies are capitalizing on incremental opportunities by harnessing the power of AI (Artificial Intelligence) for time lapse videos. For instance, Enterprise Ireland— an Irish state economic development agency, announced research, development & innovation (RD&I) funding for Evercam— a vendor for construction cameras (time lapse cameras) and project management software to apply AI and machine learning (ML) algorithms to its time lapse videos.
Apart from jobsite monitoring, project managers are using construction cameras for marketing purposes as well for avoidance of any disputes. Companies in the construction camera (time lapse camera) market are unlocking potentials in video analytics, which allows cameras to instantly recognize people and objects with the help of AI and ML.
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ML-based Software Leverage Construction Cameras to Manage Diverse Information of Jobsites
Although Asia Pacific and Europe dictate the first and second-highest revenue, respectively, in the construction camera (time lapse camera) market, huge investments are being made by contractors in construction technology startups. This trend is paving the way for digital solutions to solve common construction-related problems. As such, manufacturers are increasing their production capabilities in 360 degree cameras that are capable of capturing images in every space of a jobsite and offers a living digital version of the construction site.
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Companies in the construction camera (time lapse camera) market are gaining efficacy in (ML) systems for faster processing of data. Apart from construction cameras (time lapse cameras), vendors are now tapping value-grab opportunities in software that support these cameras. Since information overload is one of the issues faced by project managers and contractors, companies are developing ML-based software that are capable of managing and assessing big piles of information in simplified ways.
IR Sensors in Cameras Deploy Accurate Skin Temperature Scanning to Contain COVID-19
In the light of the growing COVID-19 (coronavirus) threat, companies in the construction camera (time lapse camera) market are improving their production capabilities in infrared (IR) sensors and thermal cameras to monitor the temperature of workers at construction sites. Companies in the construction camera (time lapse camera) market are increasing efforts to flatten the curve of surging SARS-CoV-2 patients to implement strong and protective measures, while trying to keep the economy going. As such, construction sites in several countries are temporarily shutdown to break the chain of coronavirus.
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Construction Camera (Time Lapse Camera) Market: Overview
- A construction camera is a time lapse camera, which is used to capture or record construction projects in an effortless manner. The construction or time lapse camera is primarily used for job site monitoring, and security of building materials, heavy-duty construction equipment, and also as a tool for marketing and promotion of construction projects, etc.
Construction Camera (Time Lapse Camera) Market: Regional Overview
- Asia Pacific is considered the biggest market for construction cameras. The region accounted for 40.7% share of the global market in the year 2019. Rapid urbanization and rising construction/infrastructure development activities are significant reasons for growth of the construction camera (time lapse camera) market in recent years and the trend is expected to continue during the forecasted timeline. Advancement in terms of technology, and rise in usage of smart devices and cloud-based services is anticipated to create significant opportunities for manufacturers and distributors to expand their businesses in developing countries of the Asia Pacific region. China and India account for around 44% of the construction or time lapse market in the Asia Pacific region.
Construction Camera (Time Lapse Camera) Market: Trends
- Growth of construction and infrastructure development activities are increasing the demand for construction cameras. Large number of construction companies use construction cameras for different purposes. Solar power driven construction cameras are also becoming very popular among end users, as it is economical and plays a significant role in remote construction of jobsites where alternate power sources are unavailable. End users are utilizing different types of construction cameras for specific purposes. Construction companies are installing fixed cameras at different locations to gain a wider view of the field. They use PTZ cameras to get a 360 degree view of job sites with zooming features.
- Manufacturers are making effective use of technology to upgrade the features of construction cameras (time lapse cameras) and to expand their product portfolio and introduce new technologically-equipped construction cameras. Several companies are also expanding their businesses in different geographies by selling their exclusive range of construction cameras and accessories through online modes of distribution. Manufacturers also offer customized solutions as per the requirement of construction companies.
Construction Camera (Time Lapse Camera) Market: Drivers and Opportunities
- The major driving factor for the construction camera (time lapse camera) market is the evolution of the construction industry. Globalization has led to an increase in the number of companies, industries, and commercial spaces. Rise in population globally has led to the expansion of the construction sector. Growth of the business environment generates the need for infrastructure development. Efficient, modern, and reliable infrastructure is important for smooth business operations. Infrastructure powers businesses, enables trade, connects workers to jobs, and makes it easy to commute.
- Rapid technological advancements and artificial intelligence (AI) are being used to monitor jobsite progress with real-time, actionable data to improve jobsite productivity. Autonomous cameras equipped with ultra-high definition cameras and various other advance features can be controlled robotically.
Construction Camera (Time Lapse Camera) Market: Key Segments
- The global construction camera (time lapse camera) market has been segmented based on product type, power, application, distribution channel, and region
- In terms of product type, the global construction camera (time lapse camera) market has been divided into fixed camera, PTZ (Pan-Tilt-Zoom) camera, indoor camera, and mobile camera trailers
- On the basis of power, the global construction camera (time lapse camera) market has been classified into AC (Alternating Current) Power Driven, DC (Direct Current) Power Driven, and Solar Power Driven
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