Market Highlights
The Global Webcam Market is expected to grow from USD 6.25 billion in 2018 to USD 11.26 billion by 2024, at a compound annual growth rate (CAGR) of 10.3% during the forecast period.
A webcam is a video camera which captures image or streams videos in real time. Webcams are mainly used for video conferencing, live events, and security and surveillance. The growth in smart city initiatives has led to the rapid adoption of webcams. Furthermore, in corporate, there webcams are extensively used for video conferencing. However, the webcams connected to the internet is increasing the risk of criminal activities such as spying and therefore the government has made stringent regulations for the same.
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Key Players
The key players in the Webcam Market are Canon, Inc. (Japan), Cisco Systems, Inc. (US), D-Link Systems, Inc. (Taiwan), Koninklijke Philips N.V.(Netherlands), Lenovo (Hong Kong), Logitech (Switzerland), Microsoft (US); Razer Inc. (US) Sony Corporation (Japan); and Xiaomi (China).
Other prominent players studied for the Webcam market are Creative Labs (Singapore), AUSDOM (China), Intel (US), Quantum Corporation (US), among others.
Regional Analysis
The global market for webcams is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the webcam market has been done for North America, Europe, Asia-Pacific, Middle East and Africa, Central and South America.
North America accounts for the largest market share in the webcam market due to the readiness to adopt new technology; web cameras are increasingly being installed in North America for security and surveillanc in events, for online education and visual marketing. Europe holds the second-largest share in the webcam market as the countries in this region including Germany and the UK are making rapid developments in increasing the level of security and surveillance. Asia-Pacific is expected to grow at the highest CAGR during the forecast period because of the government-led installations of webcams. China is expected to be the largest revenue generating country in the region. Presence of a number of local vendors which provide affordable webcams is fueling the demand in this region.
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