PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218834
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1218834
According to Stratistics MRC, the Global Webcam Market is accounted for $8.3 billion in 2022 and is expected to reach $18.5 billion by 2028 growing at a CAGR of 14.1% during the forecast period. Webcam is a security device which streams images or videos in real time. It is a video feeding camera which is in built in laptops and can be attached on the desktop. It uses internet as a mode to stream and share images and videos over PCs or laptops. As webcams capture detailed images and record videos, they are equipped with semiconductor chips and high-resolution lenses. They can be utilised in a video chat session between two or more persons, with live audio and video chats. Factors such as the rising concern regarding security and surveillance, increasing emphasis on virtual meetings across the commercial sector and continuous product innovations are fuelling the production of webcams.
According to Times news channel in India, the Delhi Police reported a 30-40% of the Street crimes such as theft, robbery, snatching and rapes are recognized by the footage of webcams.
Market Dynamics:
Driver:
Demand for real-time monitoring devices
The demand for real-time monitoring devices in commercial, residential locations and logistics are growing drastically. These cameras are being utilized in temporary surveillance appliance for recording destruction and anti-social behaviour. There is a high access of webcams for traffic surveillance and fly-tipping as they provide better quality imaging. All these factors are driving the growth of the webcam market radically.
Restraint:
Huge prices
The webcams consist huge price rates as they are manufactured with lot of advancements and provide numerous options. Cheap webcams are mostly from untrusted sources with less protection. Higher resolution sensors, lenses, low-light scenarios and better microphones raise the cost of the webcam which are hampering the demand of the market.
Opportunity:
Technological advancements
The new innovations in webcams are witnessing huge impact on the production of webcams. The emergence of various advanced technologies like high definition digital camera extends profitable opportunities. The modern webcams are delivering enhanced frame rate, noise cancellation, streaming quality, resolution and built-in microphones. Capturing real-time images or videos in the form of digital or analog signals are further fuelling the growth of the market.
Threat:
Hacking of data
The webcams can be hacked by the spammers. They can get access to retrieve, alter or monitor information. They can spy on computer's camera and get access to personal files, messages, browsing history. They can even listen and delete the recorded video footages and audio tracks. These factors are hindering the growth of the market.
COVID-19 Impact
The COVID-19 pandemic has created an unprecedented demand for web cameras worldwide. The adoption of hybrid business models and remote working models in the enterprise sector has helped open promising opportunities for the market. Webcams played an outstanding part in ensuring seamless access to K-12 education activities at the global level. Online education was promoted for continuing curriculums without any disruptions in the knowledge transfer between teachers and students.
The digital segment is expected to be the largest during the forecast period
The digital segment is estimated to have a lucrative growth, due to its instant services. The digital webcams has cataloguing software that supports annotation, browsing, searching and viewing of digital images and videos. It provides features such as high-end security, better data encryption and protection compared to the analog model. It attributes better image quality and more video coverage area which is the driving the market growth.
The wireless segment is expected to have the highest CAGR during the forecast period
The wireless segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing online streaming vendors and video bloggers. There are several wireless webcams that are purpose-built for vlogging and streaming activities, with several optimizations in terms of low light visibility, resolution and autofocus characteristics. Video-conferencing, e-Learning, security, traffic management, and healthcare systems are the applications fuelling the market growth.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the growing online learning and government innovations. The region has the increased need for security and rapid developments under smart city initiatives. Security and surveillance, events, online education and visual marketing aspects in this region are propelling the market growth in this region.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the huge number of electronic device manufacturers. As part of this region digitalization effort, the usage of webcams has grown drastically. The presence and availability of global brands across the region made the manufacturers install webcams for security. Existence of cost-effective webcams is fueling the demand for webcams in this region.
Key players in the market
Some of the key players profiled in the Webcam Market include Lenovo Group Limited, Microsoft Corporation, Philips, Sony Corporation, Motorola, Ausdom, Teng Wei Video Technology Co, NEXIA, D-link, Logitech International SA, Kinobo, Tecknet, Hp, Razer Inc, Creative Technology Ltd, Cisco Systems Inc, Canon Inc, KYE Systems Corp, Xiaomi, 10Moons, Nexia, Koninklijke Philips
Key Developments:
In December 2022, Lenovo launched Go 4K Pro Webcam With Ai-assisted Autofocus and Microsoft Teams Certification Unveiled. The new webcam is equipped with an AI-assisted autofocus system and it can record HDR videos which come with a physical privacy shutter and will work with IdeaPad and ThinkPad laptops.
In October 2022, Philips launched new monitors for offices with built-in webcams, USB Type-C docking stations. The 34B1U5600CH, 27B1U5601H and 24B1U5301H are three new monitors from Philips with features of integrated 5 MP webcam that supports Windows Hello and has a noise-cancelling microphone and stereo speakers.
In September 2022, Sony launched the FR7, the world's first*1 PTZ camera to combine a full-frame image sensor, lens interchange ability and remote shooting functionality. Its versatile remote control and cinematic features open creative possibilities in studio live production and filmmaking settings.
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