Document Camera Market Growing at the Fastest Rate in North America Region

According to the new market research report "Document Camera Market with COVID-19 Impact Analysis By Product Type (Portable and Non-portable), Connection Type (Wired and Wireless), End User (Education, Corporate, and Others), and Geography- Global Forecast to 2025", the document camera market is expected to grow from USD 370 million in 2020 to USD 545 million by 2025 it is expected to grow at a CAGR of 8.1% from 2020 to 2025. The document camera market had been witnessing growth in the past years, mainly owing to the high adoption of document cameras from the education sector. However, COVID-19 has led to a decline in the growth rate of the document camera market. This is because the educational institutions and corporate offices, which are the major demand generators of document cameras, are currently non-operational in various countries, thereby negatively impacting the demand for document cameras. Additionally, COVID-19 has also disrupted the supply chain of document cameras, which is hindering the manufacturing and distribution of document cameras.

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Document camera market for education sector to grow at highest CAGR during the forecast period

The education sector is expected to hold largest share as well as witness the highest CAGR in the market during the forecast period. The rapid digitalization in the education sector is one of the key factors that has led to the high penetration of document cameras in this market. Additionally, COVID-19 has resulted in a rise in the trend of online education and has boosted the demand for devices assisting online education. Document cameras have proven to be beneficial for online education, which is expected to positively impact the growth of the market.

Wired connectivity document cameras to account for largest market share during the forecast period

The document camera market, by connection type, is segmented into wired and wireless. Wired connectivity document cameras segment is expected to lead the market, in terms of size, during the forecast period. The wired connectivity document cameras offer high quality and speed of video/image streaming, which at times can be challenging for wireless connectivity document cameras. Additionally, the price of wired connectivity document cameras is usually lower than that of wireless connectivity document cameras. These factors have collectively led to the leading position of the wired connectivity segment in the market.

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North America to hold the largest share of document camera market by 2020

North America is expected to hold the largest share of the document camera market by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. Europe is expected to account for the second-largest share of the document camera market during the forecast period. The UK and Grmany are significant demand-generating countries for document camera in this region.

A few key players operating in the document camera market are AVer Information (Taiwan), WolfVision (Austria), ELMO Company (Japan), Seiko Epson (Japan), Lumens Digital Optics (Taiwan), IPEVO (US), and HUE (UK).

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This release was published on openPR.