Webcams Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The webcam industry has been getting prominence owing to the growing adoption of web cameras in security and surveillance, entertainment, video conferences, visual marketing, and live events, among others.

- Growing demand for surveillance systems for security and safety purposes, rising demand for automated guided vehicles (AGVs) and unmanned aerial vehicles (UAVs) across industrial and private sectors globally, are the principal factors expected to drive the growth of the global webcams market over the forecast period. Also, owing to several characteristics offered by webcams such as vision control, command direction process, and decreased overheads, the webcam market is anticipated to grow.

- The total net subscriber of the smartphones was 60%, and it is expected to reach 79% by the end of 2025 (GSMA Association, 2019). Growing demand for smartphones worldwide is because of the webcam feature, driving the growth of the webcams market. Moreover, the growing need for security systems to apprehend the trespassers, burglars, miscreants, and other anti-social elements hindering the society is predicted to boost the ...
... demand for webcams.

- Internet speed directly affects the quality of images and videos recorded and streamed. Minimum internet speed is needed to avoid video distortion. Deployment of webcams is expected to witness slow growth in remote or distant locations and regions with weak internet connectivity, as fluctuations in internet speed act as restraints to market growth.

- Webcams are also an essential component of e-learning and distance learning, which is now
more prominent due to the COVID-19 outbreak. The pandemic has forced K-12 school districts and universities to close and send students home. Thus, video conferencing platforms, such as Zoom and WebEx, are being used heavily.

Key Market Trends

External Webcams Expected to Gain Considerable Significance

- The external webcams market has been witnessing a considerable in commercial applications for video-conferencing purposes and several documentation and authentication procedures. However, as more mobile computing devices are being fitted with embedded cameras, the need for external webcams has gone down significantly.

- Further, considerable advances in the external webcams are finding increasing demand form a new class of consumers, such as online streaming vendors and video bloggers (vloggers). In the current market scenario, there are several external webcams that are purpose-built for vlogging and streaming activities, with several optimizations in terms of low light visibility, resolution, and autofocus characteristics.

- Vendors are involved in product innovations, which is helping them remain competitive in the market. For instance, in June 2020, Papalook launched 1080P HD webcams, which feature an up to 90Ëš wide-angle view to fit groups of people during business meetings and family calls, for real estate home showings, business demos, live streaming scenes, and gaming. They are designed for recording and streaming on Zoom, YouTube, Facetime, Skype, Facebook, and other social media and gaming platforms.

- Some of the known manufacturers are adding USB streaming support to their DSLR and mirrorless cameras, which is giving tough competition to the webcam companies. For instance, in June 2020, Panasonic announced that its mirror-less cameras can be used as webcams via. a USB cable, by installing its Lumix Tether app. It allowed the user to connect their camera to a laptop or desktop for tethered shooting.

North America Holds a Substantial Market Share

- North America estimated for the biggest regional share of the global webcams market in 2018. Over the outlook period, owing to the growing need for webcams, the region is anticipated to dominate the market which is associated with the rising requirement for security and surveillance in commercial areas and homes.

- The demand for web cameras is continuously building in the region owing to an ease in the selection of new technology that improves the security and surveillance events, video conferencing at work, K-12 education, and visual marketing. Deployment of the product in multiple industries is supposed to witness the growth of the webcams market.

- Moreover, after the 9/11 attack in the U.S., the demand for tracking real-time movements and surveillance has grown and has become compulsory. Considering the banking and finance sector in North America, the induction of webcams on the premises for security objectives to control the records and documents has become an essential part of surveillance.

Competitive Landscape

Webcams Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability.

- May 2020 - Canon US developed a software that can convert EOS Interchangeable Lens Cameras and PowerShot cameras into a webcam for high-quality virtual meetings. A list of selected EOS Interchangeable Lens Cameras (ILC) and PowerShot cameras support this new software. This beta version software helps consumers to improve their video appearance by delivering clarity and high-image quality while using the popular video chat application.

- November 2019 - Canon Inc. announced the launch of its new ‘Business Imaging Solutions' (BIS) lounge in Udaipur, India. The new BIS lounge in Udaipur in association with Canon Authorized Partner, Prince Enterprise was inaugurated with an objective to be a one-stop destination for all office imaging requirements of organizations - big or small - in the region.

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