The global webcams market size is expected to reach USD 11.60 billion by 2027, expanding at a CAGR of 8.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. Webcams can be connected to laptops and desktops for real-time recording at any given location. Growing need for security and surveillance systems to capture intruders, trespassers, and miscreants in commercial as well as residential premises is expected to drive the product demand over the forecast period.
To address the surge of COVID-19, governments all over the world are developing stringent surveillance mechanisms to ensure that people in high-risk zones, or those instructed to be under strict home quarantine. Smartphone apps integrated with geotagging features have been rolled out by various governments to ensure adherence to social distancing. Health surveillance in the wake of this pandemic has essentially become a mic of technology and human intelligence. The updated report will account for Covid19 as a key market contributor.
These devices are widely being deployed in the corporate sector for video conferencing and telecommutingfor more accessible communication with counterparts at distant locations. Hence, key market participants are emphasizing on new model launches and technological advancements to cater to the demand for devices with higher recording, streaming, microphone, and zoom quality.
For instance, in December 2020, Logitech launched a 4K Ultra HD webcam for Mac Pro with RightLight 3 technology, enabling automatic adjustment of lightening conditions for better video quality. Moreover, emergence of advanced video cameras with the capability of connecting the entire conference of people to a single user is propelling market growth.
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Furthermore, multiple attributes of webcam technology have extended its scope in the healthcare sector to assist the patients suffering from chronic diseases and emergency situations. These devices are highly being utilized for the telehealth consulting services as they provide simplified connectivity between patients and healthcare professionals through video conferencing on mobile devices or laptops.
Webcam Market Report Highlights
By technology, analog webcams accounted for over 60.0% share of the total revenue in 2020
Based on distribution channel, e-commerce is expected to expand at the highest CAGR of 11.9% in terms of revenue from 2020 to 2027
In 2020, North America accounted for the largest revenue share of over 35.0%
Asia Pacific is expected to witness a significant increase in the product demand during the forecast period.
Owing to the COVID-19 pandemic, governments of the profoundly affected countries have already announced national lockdowns and are mandating the public to maintain social distancing. Webcams are being used for communication and live virtual events due to in-home isolation worldwide for minimizing the social and economic impact of the outbreak. For instance, leaders of the G20 countries held a video conference summit for a discussion on preventive measures to be undertaken to reduce the impact of the current global pandemic.
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Furthermore, governments are using Unmanned Aerial Vehicles (UAVs) for surveillance purposes as mobility restrictions are tightening worldwide owing to the COVID-19 pandemic. For instance, the State Police of Western Australia announced the deployment of drones for remotely monitoring recreational sites to ensure if people are following social distancing guidelines. In the light of the current scenario, market demand is expected to boost over the forecast period.
Grand View Research has segmented the global webcam market on the basis of product, technology, distribution channel, end use:
Webcams Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Webcams Technology Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Webcams Distribution Channel Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Brick & Mortar
Webcams End-Use Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
Security & Surveillance
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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