Webcams Market Analysis and Forecast 2020: By Keyplayers Canon Inc., Cisco Systems, Inc., D-Link Corporation, Koninklijke Philips N.V., Lenovo, Logitech, Microsoft, Razer Inc., Sony Corporation, Xiaomi, Hewlett Packard Enterprise Development LP, Quantum,

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A webcam is a video camera that is attached to desktops, laptops or in-built in hardware. Webcams are made up of lens and image sensor, and are also included with one or two microphones for better sound quality. Webcams are used to stream an image or video in real time through a computer network such as internet. It is deployed with high-resolution quality, which is further used to provide high-quality audios and videos. The main feature of webcams is to enable users to record audio or video for future purposes. Webcams are mostly utilized at workstations to connect with colleagues or employees who are working in different locations.  It is also used for video conferencing between two or more people, which reduces business travel across countries. Additionally, webcams are also used for application in healthcare, augmented reality (AR), security cameras, input control devices, astro photography, laser beam profiling, and others. Thus, increase in application of webcams have accelerated the demand for webcams in the market.

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Major players operating in the global webcams market include Canon Inc., Cisco Systems, Inc., D-Link Corporation, Koninklijke Philips N.V., Lenovo, Logitech, Microsoft, Razer Inc., Sony Corporation, Xiaomi, Hewlett Packard Enterprise Development LP, Quantum, Intel Corporation, AUSDOM, and others.

The global webcams market is expected to witness significant growth during the forecast period (2020–2027). The growth of the webcams market is majorly attributed to increasing security concerns. The security and surveillance systems are using webcams to capture unauthorized activities by intruders or theft in the commercial as well as residential areas. Furthermore, unmanned aerial vehicles (UAVs) are used by governments for surveillance purposes, as mobility restrictions are strictly followed worldwide, owing to the COVID-19 pandemic. For instance, in March 2020, the police department of Western Australia announced the deployment of drones for monitoring recreational sites to ensure if people are following social distancing guidelines or not. Thus, increasing demand for webcams for security & surveillance is expected to boost the market growth over the forecast period.

The major factor restraining growth of the global webcams market is high operational and infrastructure cost of webcams. The installation and maintenance cost of webcams are also very high due to which middle class people do not prefer to buy webcams. Such factors may hamper the growth of webcams market over the forecast period.

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Webcams Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 pandemic is expected to drive growth of the market during the forecast period. This is due to increase in demand for webcams from government/corporate sector for surveillance and security purposes. Corporate/government sectors are enforcing employees to follow social distancing and are expected to use webcams to ensure the safety of premises and employees. Further, increasing webinars and meetings while working from home have positively impacted the sales of webcams. The governments of affected countries announced national lockdown and mandated people to maintain social distancing. Governments are also using webcams to monitor people’s activities during lockdown to make sure that rules are being followed. For instance, in March 2020, members of the G20 countries announced a video conference summit for a discussion on preventive measures to be undertaken to reduce the impact of the current global COVID-19 pandemic. Also, increasing use of these cameras in government departments is likely to accelerate revenue growth over the forecast period.

North America is expected to hold dominant position in the global webcams market during the forecast period

Statistics:

North America held dominant position in the global webcams market in 2019, accounting for 33.4% share in terms of value, followed by Europe and Asia Pacific.

North America held dominant position in the global webcams market in 2019 and is projected to retain its dominance throughout the forecast period, owing to increasing need for security and rapid development under smart city initiatives in the North America region. Web cameras are used in North America for recording security and surveillance, live events, online education, and visual marketing. For instance, according to Coherent Market Insights’ analysis, North America security systems integration market revenue increased to 3,700 million in 2018 from 3,219 million in 2017.

Asia Pacific region is expected to exhibit highest growth during the forecast period. This is owing to rising need for webcams for online education, healthcare sector, and video conferencing. Countries such as India and China are focusing on improving infrastructure and surveillance system, which is expected to provide lucrative opportunities for the industry over the forecast period. For instance, according to Coherent Market Insights’ analysis, the number of surveillance cameras installed in public and private areas of China is 622 million in 2020 from 146 million in 2017.Owing to the above mentioned factors, the webcams market is expected to witness significant growth during the forecast period.

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Increasing demand for webcams in live events for real time streaming and security purpose is expected to drive the market growth during the forecast period

Among end users, the live events segment is expected to hold dominant position in the global webcams market during the forecast period. This is owing to increasing demand for webcams in live events for real time streaming and security purposes across the globe. For instance, in 2019, according to Coherent Market Insights’ analysis, Facebook is the biggest social networking website with live streaming of 2,500 million users in the world.

The global webcams market was valued at US$ 6,524 Mn in 2019 and is expected to reach US$ 11,843 Mn by 2027 at a CAGR of 8.9% between 2020 and 2027.

Detailed Segmentation

• Global Webcams Market, By Type:
◦ USB
◦ Wireless

• Global Webcams Market, Technology:
◦ Analog
◦ Digital

• Global Webcams Market, Distribution Channel:
◦ Brick & Mortar
◦ E-commerce

• Global Webcams Market, End User:
◦ Security & Surveillance
◦ Entertainment
◦ Video Conference
◦ Live Events
◦ Visual Marketing
◦ Others

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This release was published on openPR.