Global webcams market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Multiple Commercial Applications Remain Instrumental in Driving Webcams Market Growth
Rise in video conferencing coupled with the growing trend of remote working has translated into potential opportunities for the webcams market. Post the COVID-19 pandemic, businesses started hybrid and completely remote working for their employees owing to lockdown restrictions. This fuelled the use of webcams for internal company meetings, client video calls and conferences. Moreover, the rising trend of virtual workplace communication has been influencing the demand for advanced webcams. In addition, use of webcams in different settings such as remote patient monitoring in healthcare domain and in automated guided vehicles (AGVs), and unmanned aerial vehicle (UAVs) in the automotive space are primarily influencing the demand and supply of webcams. Additionally, the demand for surveillance systems for physical security and safety purposes has been on the rise to mitigate loses due to theft, and vandalism. This has in turn uplifted the sales of webcams in security and surveillance applications. That said, rising demand across different industrial applications remains instrumental in driving the growth of the webcams market.
Demand for External Webcams to Increase Considerably in Global Webcams Market
External webcams have been gaining high traction and are likely to significantly contribute towards revenue growth of the webcams market. Commercial use of external webcams for video conferencing, security, e-learning, healthcare settings, and traffic management is increasing at a momentous rate. This has resulted in research and development activities to launch advanced external webcams, in turn complementing growth of webcams market. New customer class such as vloggers or video bloggers and online streaming vendors are showing higher inclination towards such external webcams for their activities. Moreover, the demand for these types of webcams in commercial applications is growing on the back of their unique optimizations such as high resolution, low light visibility and autofocus features. In this backdrop, manufacturers of webcams are investing in innovations and development of powerful web cameras. For instance, in 2022, an AI powered 4k web camera – the Insta360 Link – was developed by Insta360. This webcam provides a unique combination of seamless user experience and superior image quality to educators, live streamers, and business executives. In this background, rising demand for external web cameras backed by innovations in design and features has fuelled their sales, consequently aiding the growth of the webcams market.
North America Likely to Account for the Lion’s Share in Global Webcams Market
Geographically, developed countries across North America are projected to prevail as significant revenue generating pockets in the webcams market in the region. This can be attributed towards growing trend of online learning and several distance education activities. There has been an increase in enrolments for distance education in the past few years. For instance, according to National Centre for Education Statistics (NCES), online enrolment growth has been over 10% for general postsecondary population of students since the past few years. In addition, since the COVID-19 pandemic, the distance education and remote online learning trend picked up steam under the EdTech and smart classroom trend.
As per NCES, around 11.8 million or 75% of undergraduate students in the United States were enrolled in minimum of one distance education course and 44% or 7 million of undergraduate students exclusively opted for distance education courses in 2020. The number of undergraduates opting for at least one distance education course was around 97% more in 2020 as compared to the previous year. Whereas, as compared to 2019, undergraduate students who exclusively opted for distance learning courses was about 186% higher in 2020. This is mainly owing to growing students’ inclination towards technology and convenience associated with online interface of learning system. Furthermore, rising Internet users in the region coupled with increasing video conferencing meets in North America have influenced the sales of webcams. Additionally, rising virtual office spaces and virtual meetings have further fuelled the use of webcams, in turn complementing the growth of the webcams market in the region. Adding to this, other aspects such as growing technology hub, availability of superior internet infrastructure, the rise of 5G, and proliferation of technology enthusiastic population continue to bode well for the growth of webcams market in the region.
Webcams Market: Competitive Landscape
New product developments, collaborations, and partnerships have been witnessed in the webcams market. A few of the major players in global webcams market include Logitech International S.A., Creative Technology Ltd., Microsoft Corporation, Razer Inc., Lenovo Group Limited, Canon Inc., Sony Corporation, D-Link Systems Inc., Xiaomi, 10Moon, Koninklijke Philips N.V., and Cisco Systems Inc.
Recent Notable Developments
The Global Webcams Market is Segmented as Below:
By Product Type
By Installation Type
By Distribution Channel
By End Users
Key Elements Included In The Study: Global Webcams Market
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