BANGALORE, India, March 9, 2021 /PRNewswire/ -- The Webcams Market is Segmented Type (USB ports, Wireless, Others), Application (Common network chatting, Video conference, Remote medical, Automobile, Others): Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Computers & Electronics Category.
In 2019, the global Webcams market size was USD 8325.4 Million, and it is expected to reach USD 24670 Million by the end of 2026, with a CAGR of 16.6% during the forecast period 2021-2026.
Major factors driving the growth of webcams market size are Increasing demand for real-time monitoring devices and rising adoption of unmanned aerial vehicles (UAVs) for security and surveillance, and growing adoption of webcams for video conferencing, visual marketing, live events, and entertainment.
With the growing popularity of virtual workplace communication between professionals, the webcam market size is expected to witness rapid growth during the forecast period. Furthermore, due to the recent COVID-19 outbreak, work from home policies have been introduced by businesses to ensure the safety of workers as well as the continuity of their company. With these stay-at-home initiatives, the use of video conferencing has increased for company and customer meetings. This is expected to fuel the growth of webcams market size.
Moreover, webcams are also an essential component of e-learning and distance learning, which is now more prominent due to the COVID-19 outbreak.
The growing use of webcams for video consultation and remote patient monitoring by telehealth services has increased webcams penetration in the healthcare sector. In addition, these cameras allow real-time or store-and-forward telehealth communication. These advantages offered are expected to further increase the growth of webcams market size.
The growing use of webcams in visual marketing is expected to increase the webcams market size.
Webcams used for visual marketing can generate more interaction between a brand and its customers. Visual marketing allows photographs, videos, illustrations, infographics, logos, and signs to communicate with customers via webcam and is often more enticing to customers. In addition, it is easy to evaluate how users browse the website and their overall homepage interaction with the advent of webcam-based eye-tracking technology.
WEBCAMS MARKET SHARE ANALYSIS
Based on type, the USB webcam segment dominated the webcam market share during the forecast period.
This is due to its compatibility with multi-platform computers such as Mac, Linux, and Windows. In addition, as they have larger casings that allow heat to disband easily, these devices are less susceptible to overheating. However, the wireless webcams segment is expected to see substantial growth during the forecast period with the rise in broadband and internet access worldwide. In addition, wireless webcams can be mounted away from the computer screen, providing flexibility to the user.
Based on the application, the live events segment held the largest webcam market share during the forecast period.
This significant share is due to the rising demand for live event webcams for streaming and security purposes in real-time.
Based on region, North America is expected to hold the largest webcams market share during the forecast period.
The growing demand for real-time monitoring and broadcasting of live events is expected to boost the growth of webcams market size in the region. Significant growth over the forecast period is also expected in Europe due to the rising emphasis on security, especially in the case of Internet of Things (IoT) devices.
On the other hand, the Asia-Pacific region is expected to witness the highest growth during the forecast period
Due to the growing need for webcams for video conferencing, online education, and the healthcare sector in the region. In 2015, global Webcam total production reached 128679 K units. China and Japan were the major production regions, which accounted for 50% and 11%, respectively.
The webcams market is now close to mature. The slow downward trend in commodity prices in recent years will also continue in the future as rivalry intensifies, and the price gap between different brands will continue to narrow. Similarly, there would be gross margin variations.
Some of the top companies in the webcams market are,
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