Tokyo, Japan, May 03, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Webcam Market Research Report Information By Product, By Technology, By Distribution Channel, By End-User And By Region –Market Forecast Till 2030., the market is anticipated to acquire a valuation of approximately USD 21.696 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 14.20% during the assessment timeframe.
Webcam Market Insights:
Over the past couple of years, webcams are witnessing a rising demand with the growing trend of virtual conferencing and remote working. These are increasingly garnering popularity due to their advanced features and benefits. The onset of the COVID-19 pandemic escalated the demand for webcams and webcam-incorporated laptops, mandating remote work set-ups.
Furthermore, rising teleconferencing features to conduct virtual conferences have positively impacted the market growth. The average price of webcams is continually decreasing, primarily due to rapid technological upgrades. Continually dropping prices and technological advances substantiate the webcam market value.
Moreover, the increased demand for high-speed content escalates the market on the global platform. Also, the growing security concerns and awareness about security devices, alongside the high connectivity standards and adoption of internet services, are the key growth drivers enhancing the webcam market revenues.
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Key Players
Players leading the webcam market include-
- Cisco Systems, Inc. (US),
- Canon, Inc. (Japan),
- D-Link Systems, Inc. (Taiwan),
- Lenovo (Hong Kong),
- Koninklijke Philips N.V.(Netherlands),
- Logitech (Switzerland),
- Razer Inc. (US),
- Microsoft (US),
- Sony Corporation (Japan),
- Xiaomi (China),
- AUSDOM (China),
- Creative Labs (Singapore),
- Intel (US),
- Quantum Corporation (US),
among others.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 21.696 billion |
| Growth Rate | CAGR of 14.20% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Increased need for security and rapid developments under smart city initiatives. |
| Key Market Drivers | The increased deployment of monitoring devices by federal agencies The widespread use of internet-connected devices |
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Industry Trends
Over the past years, there has been significant spending on connected devices, as in-person meetings and gatherings have been replaced by virtual get-togethers. Resultantly, webcams have become more important than ever. On the other hand, the PC market has yet to follow this trend, and it is observed that users don't care about webcam quality, and even some of the best laptops still have low-quality cameras.
Sometimes they are inappropriately placed, and users often have to upgrade the camera. There are some of the best webcams available in the market. Whether the need is for a super cheap webcam or a very high-end one, different categories of webcams are available that fit the users' needs and budgets.
The market is increasingly witnessing the demand for webcams, specially designed for hybrid workplaces and can upgrade video conferencing experiences. Users are continually looking for cameras that have a wider field of view and support image correction and automatic reframing to keep everyone in view and focus.
The trend of live video conferencing through the Internet has now increased among a large number of PC users around the world. Webcams can be integrated into instant messaging, text chat services like AOL Instant Messenger, and VoIP frameworks like Skype. Webcams are starting to supplant conventional video conferencing arrangements because of improvements in their visual quality.
Throughout the estimated period, market development is expected to be helped by the implementation of monitoring devices and observing gadgets by government organizations as a feature of their digitalization programs. Numerous countries throughout the world use observation frameworks to protect their important infrastructures and public areas.
Furthermore, in an intelligent framework, the market has seen significant development in security and observation applications for locations, like home security and outside safety. Also, webcams are utilized to monitor live occasions remotely and in areas like corporate medical care.
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Conversely, the boundless utilization of internet-connected associated devices has made computerized networks more vulnerable to assaults, raising a security concern. Webcams could ruin information transferred over the Internet since they are associated with computers and web associations.
Legislatures worldwide are focusing on passing severe regulations to defend the security and wellbeing of delicate information accordingly. To safeguard client information handled by Internet of Things (IoT) gadgets from being obliterated, got to by unapproved parties without approval, utilized without consent, or revealed. This has improved the webcam market CAGR across the globe in the next few years.
Market Segmentation
The global webcam market is segmented into products, technologies, distribution channels, end-users, and regions. The product segment comprises USB and wireless. The technology segment comprises analog and digital. The distribution channel segment comprises brick & mortar and e-commerce. The end-user segment comprises security & surveillance, entertainment, videoconference, live events, visual marketing, and others.
Regional Analysis
North America and Europe dominate the global webcam market. The growing demand for webcams from online education, visual marketing, security & surveillance, and events drives the market growth in these regions. Besides, the large presence of notable webcam providers, suppliers, and distributors in these regions substantiates the market value. Huge investments by makers in these regions to design webcams with enhanced resolution and fast processing pay off well by fostering market revenues.
Competitive Landscape
The webcam market appears highly competitive, with a large number of players forming a competitive landscape. Product development and close collaboration with end-users are attractive strategies being pursued. Industry players are also forming collaborations and partnerships with other players to expand their footprints & expertise and to reduce development times and costs. Also, they acquire proprietary technology to reduce commercial time.
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For instance, on April 13, 2023, OBSBOT, an artificial intelligence webcam brand, launched its latest AI-powered webcam, the Tiny 2. The AI-powered technology can automatically zoom, focus, and frame subjects. In addition to the Pan, Tilt, and Zoom(PTZ) features, the webcam comes with advanced features, such as 4K video, lightning-fast focusing, voice controls, and more. Tiny 2 is the upgraded version of the OBSBOT Tiny 4K AI webcam. Moreover, the new webcam is capable of capturing video up to UHD 4K30 and 1080p60 HD resolution with high transmission speed.
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