Webcam Market Likely To Touch At $13.93 Billion By 2030: Grand View Research Inc.

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Webcam Market is Booming globally with Marginal Growth

San Francisco, 01 April 2024: The Report Webcam Market Size, Share & Trends Analysis Report By Technology (Analog, Digital), By Product (USB, Wireless), By Distribution Channel, By End-use, By Region, And Segment Forecasts, 2022 - 2030

The global webcam market is expected to reach USD 13.93 billion by 2030, registering a CAGR of 7.3% during the forecast period, according to a new study by Grand View Research, Inc. Rising concerns regarding security & surveillance, increasing emphasis on virtual meetings across the commercial sector, and continuous product innovation are the factors fueling the market's growth. Shifting preferences of people and institutions regarding the physical presence of the individual marks the heavy usage of webcams.

Growth of the webcam market is supported by ongoing technological advancements, enabling market players to offer improved recording quality, zooming quality, and enhanced streaming resolution quality. Several webcam manufacturers are adopting modern features such as 1080p resolution, 60 frames per second video streaming, auto light correction, and autofocus which offer improved webcam experience to the consumers. For instance, Logitech launched a groundbreaking Stream Cam camera, especially suited for broadcasters and content creators. The StreamCam offers a USB-C connection, 1080p/60 fps video, and multiple mounting options.

Healthcare services are witnessing a rise in demand for modern web cameras owing to the increasing emphasis on virtual consultations post-COVID. Medical experts use webcams to check and give medications to patients located far away. For instance, Logitech and secure telehealth, a supplier of a web-based platform for the tele mental health, entered into a partnership wherein, the latter will use Logitech webcams to provide remote mental health treatments to patients who live in other countries.

Asia Pacific is likely to dominate the Webcam Market during the forecast period owing to several governments in the region taking initiatives for digital schooling, online courtroom, online board meeting, and others.

The COVID-19 outbreak has sparked incredible global demand for web cameras. The market has gained access to potential opportunities, thanks to the enterprise sector's embrace of hybrid business models and remote working methods. The seamless access to K-12 educational activities worldwide was primarily made possible by the webcams. Worldwide lockdowns and restrictions pushed online education for continuous curricula without interfering with knowledge transfer between teachers and students.

Increased demand for real-time monitoring devices and the adoption of UAVs for security and surveillance purpose propel the webcam market toward steady and healthy growth during the forecast period.

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Increase in the usage of webcams designed for video conferencing, visual marketing, and others is augmenting the market. Webcams are the most valuable business communication tools in the corporate world. An increase in trends toward virtual workplace communication among professionals is increasing demand for webcams during the forecast period.

Webcam Market Report Highlights 

  • Digital Technology in webcams is likely to register a higher CAGR of 9.0% from 2022 to 2030 as consumers are shifting their preference from analog to digital web cameras for better video and audio quality
  • In terms of the distribution channel, Brick & Mortar segment is anticipated to lead the market in 2021, accounting for more than 80.0% market share in the webcam market
  • The wireless product segment is expected to witness significant growth as compared to that of the USB (wired) webcam and capture more than 55.0% of the market share in terms of volume in 2021
  • Asia Pacific is anticipated to record a growth rate of more than 8.0% from 2022 to 2030 while North America led the market in terms of value in 2021

The rising usage of webcams in the health sector used for video conferencing and remote patient monitoring is expected to push the growth of the market worldwide. Additionally, post-COVID, with the increasing emphasis on remote working, and hybrid work models, the corporate environment is witnessing increased demand for webcams as video conferencing are becoming the new norm for conducting business and client meetings.

The changing customer demands in addition to the enhanced internet connectivity experience are the factors compelling webcam manufacturers to develop cameras with the latest technology and feature.

USB webcams are expected to dominate the market with a volume share of around 60.0%. The subsequent growth of USB webcams is attributed to the compatibility of using them on any platform, such as Mac, Linux, and Windows. These devices come with overheating prevention techniques along with larger casings which dissipate the heat rapidly as this camera can be placed anywhere, providing comfort to the user for using it. According to IEEE 802.11g specification, one can set up a Wi-Fi webcam 30.0 meters away from the computer.

The wireless segment is anticipated to register a CAGR of more than 8.0% during the forecast period, as they are versatile in application along with compatibility and provide higher resolution. Such webcams include an electric chip sensor that turns light into pixels, and the camera sends this data through Ethernet, Wi-Fi, or Bluetooth. Users can shoot high-definition photographs and films using wireless webcams as there is no interference of wired infrastructure, no wear and tear of the wire, and no purposeful wire puncture by hackers. Wireless technology is useful when it is difficult to install wires, such as when monitoring business premises.

Webcam Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 7.91 billion

Revenue forecast in 2030

USD 13.93 billion

Growth rate

CAGR of 7.3% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

The global webcams industry has been segmented based on technology into analog and digital. The digital technology segment in the market is anticipated to hold a significant market while registering expansion at a CAGR of 9.0% during the forecast period. Digital webcams feature high-end security, providing better data encryption and protection compared to the analog model. The image capturing in digital webcams is done with the help of a Charge-Coupled Device (CCD) or Complementary Metal-Oxide-Semiconductor (CMOS) image sensors.

List of Key Players of Webcam Market

  • Canon, Inc.
  • 10Moon
  • Cisco Systems Inc.
  • D-Link Systems Inc.
  • Koninklijke Philips N.V.
  • Lenovo
  • Logitech
  • Microsoft
  • Razer Inc.
  • Sony Corporation
  • Xiaomi

 

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