Webcam Market Highlights:
The webcam market 2020 is poised to witness increase in sales. The widening range of applications of the product is expected to be responsible for market growth in the upcoming years. Technological advancements are poised to increase the utility and efficiency of the product, which is poised to boost growth rate of the webcam market in the nearby future. In an observation presented by Market Research Future (MRFR), the global webcam market is supposed to mark 10.3% CAGR across the assessment period 2019 to 2024. This study further projects that the size of the market, in terms of revenue, is supposed to reach USD 11.26 Bn by 2024, increasing from USD 6.25 Bn in 2018.
Webcams have evolved over time and have been gaining popularity as security cameras. Rising security concerns due to intrusion and theft have led to a drastic rise in the sales of the product. It is presumed to keep motivating the growth trajectory of the webcam market in the foreseeable future. Also, manufacturers are emphasizing on the development of products with better imaging quality. This again is expected to influence the market’s growth greatly in the coming years. Product development is one of the key growth strategies and is projected to revolutionize the growth pattern of the webcam market. Increasing use of these cameras in government departments is likely to accelerate revenue growth across the prognosis period.
Rising popularity of face to face communication is also presumed to impact the Webcam Market favorably. Cost efficiency of the product, when compared to video cameras, is anticipated to have a positive influence on the growth pattern of the webcam market. Increasing reliance on video conferencing in corporate field is one of the primary factors of the webcam market. The investments in expansion of global footprint by multinational companies require efficient communications. It is poised to boost the rate of growth of the webcam market in the forthcoming years. Increasing availability of high resolution lenses is prognosticated to catapult the market on growth trajectory.
The Webcam Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Webcam Market highlights the future prediction and the growth alternatives that can be created.
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Canon, Inc. (Japan), D-Link Systems, Inc. (Taiwan), Cisco Systems, Inc. (US), Koninklijke Philips N.V.(Netherlands), Logitech (Switzerland), Lenovo (Hong Kong), Microsoft (US), Sony Corporation (Japan); Razer Inc. (US), and Xiaomi (China) are the key participants of the webcam market. Other important players include Creative Labs (Singapore), Intel (US), AUSDOM (China), Quantum Corporation (US), among others.
• On the basis of product, the webcam market has been segmented into USB and wireless.
• Based on technology, the division of the webcam market covers analog and digital.
• On the basis of distribution channel, the segmental analysis of the webcam market covers brick & mortar and e-commerce.
• On the basis of end-user, the segments of the webcam market are visual marketing, security & surveillance, videoconference, entertainment, live events, and others.
The geographical study of the global webcam market is included in this report for the following regions - North America, Europe, Central and South America, Asia-Pacific, and the Middle East and Africa (MEA). These segments are then further segmented and studied on the basis of countries for providing an impactful intelligence. North America is presumed to witness a rise in sales of webcams due to security issues.
It is supposed to maintain its holding of the forefront position through the evaluation period. Technological developments are projected to emerge as the primary driver of the regional webcam market. In addition, the rising applications in commercial spaces are further anticipated to drive growth of the regional market. Europe is assessed to retain the second position over the years. APAC is also poised to witness considerable rise in the production of webcams.
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