The presence of webcam since the past decade has paved numerous opportunities for the enterprises to enhance sales and attract more customers by almost restructuring the webcams market. In the present scenario, smart devices embedded with camera and microphones are becoming a staple product of smart homes. A real-time web camera captures images that are easily accessible while using instant messaging, the World Wide Web, and PC video calling applications. Webcam's most important attribute is real-time monitoring. The devices are deployed with semiconductor chips and high-resolution digital cameras that record videos and captures images in detail. Dell Technologies is planning to launch XPS 13 2-in-1 laptop with an upgraded version from display to webcam installed. This all-new 10th –Gen Power laptop has a webcam installed at the top of the display to avoid nose cam. The electronics industry has been gaining traction with a growing need for security and surveillance to desist from local crimes and increasing terrorist activities. As a consequence, the business leaders are rightly optimizing these opportunities owing to which the demand for webcams is poised to increment at a CAGR of 7.5% during the forecast period 2019-2025. Moreover, as of 2018, the global webcams market size was evaluated to be $4.8 billion.
According to the GSMA Association report, the total net subscriber of the smartphones as of 2018 was 60%, and it is expected to reach 79% by the end of 2025. Increasing demand for smartphones globally is due to the webcam feature, which is driving the growth of the webcams market. Furthermore, the rising necessity for security systems to apprehend the miscreants, trespassers, burglars, and other anti-social elements hampering the society is projected to increase the demand for webcams. A web camera has now become a basic necessity from mere luxury due to increasing break-ins and burglaries. The security and surveillance segment of the webcams market is projected to augment at a CAGR of 8.4% over the forecast period, driven primarily by the growing incidents at residential areas, banks, and office premises.
· iSpy Webcams: iSpy Connect is the world’s leading open-source video surveillance software. iSpy webcam can be easily transformed into a security camera to maintain home surveillance that detects the sound and movement. It provides premium features such as remote viewing along with a free application to use. iSpy is only associated with the Microsoft operating system such as Windows 7, 8, and 10.
· Yawcam: A webcam security camera software that runs on android and windows is gaining massive popularity in various countries, especially in the United States. This software allows the viewers to view every activity happening at the office and home. It is rightly embedded with motion detection sensor, and it also supports FTP uploads. Yawcam provides varied features, and it can be easily converted into a security camera. Such developments in technology are uplifting webcams market growth.
Webcam technology has extended its scope in the healthcare sector through numerous benefits such as capturing live footages and streaming images of the patients for prenatal as well as vital care. It also provides telehealth technology to their patients offering consulting services to the patients that are based at remote locations via video conferencing using smartphones, tablets, laptops, and desktops. Additionally, through video conferencing, it has become easier to gauge expert advice in critical and serious cases from a remote location. The need for these services is propelling the growth of the webcams market.
North America Subjugates Webcams Market Growth
In 2018, North America accounted for the largest regional share of 38% in the global webcams market. Over the forecast period, owing to the growing demand for webcams, North America is expected to dominate the market. This is attributed to an increasing need for security and surveillance at commercial area and homes. The demand for web cameras is continuously growing in the region owing to an ease in the adoption of new technology that improves the security and surveillance events, video conferencing at work, K-12 education, and visual marketing. Moreover, after the 9/11 attack in the U.S., the need for tracking real-time movements and surveillance has increased and has become mandatory. Considering the banking and finance sector in North America, the installation of webcams in the premises for security purposes to monitor the records and documents have become an obligatory part of supervision. Deployment of the product in various industries is expected to witness the growth of the webcams market.
Webcams Market Trends:
· Logitech C922 Pro Stream
Logitech recently launched C922 webcam, which has become a trend amongst the gamers and live streamers as it provides a feature if recording the video and broadcasting streams. The concept of using it is kept simple with automated light adjustments to plug-n-play setup. Users of the webcam can crop the images and replace their backgrounds to provide a more presentable display. Along with this, Logitech has also developed software for this webcam that is designed with content creators and live streamers. Owing to this ongoing trend, the webcams market is gaining significant prominence globally.
· Razer Kiyo Webcam
Kiyo is the unique ring light that is quite noticeable as it encircles the webcam’s lens. The built-in light of the camera is perfectly designed to illuminate the faces of live streamers and gamers without whole-room setup. Razer webcam provides high-definition quality images that can be easily customized for streaming platforms. This development in the web camera has attracted potential investors to invest in the webcams market.
The Major Frontrunner of Webcams Market
The major players in the webcams market include Koninklijke Philips N.V., D-Link Systems, Inc., Logitech International S.A, Nexia, Razer Inc., Sony Corporation, Cisco Systems Inc., Canon Inc., Lenovo Group Limited, Xiaomi Corporation, and Microsoft Corporation. These companies have been incessantly concentrating on R&D investments, acquisitions, joint ventures, innovation, and partnership strategies to strengthen their portfolio of products.
· In February 2019, Lenovo Group Limited, a Chinese multinational company, launched ThinkPad, IdeaCentre, and IdeaPad PCs. This is Lenovo’s latest addition that they launched in the marketplace, to create end-user trust and through durability and ensuring a premium experience. These devices are embedded with ThinkShutter physical webcam security. Such innovations in the market are creating opportunities for the growth of the webcam market.
· In 2019, Microsoft Corporation is planning to launch its external webcam to bring Windows Hello facial recognition to those computers that are running on Windows 10. The company is working on using a 4K camera for both laptop, PC, and Xbox One gaming console. The growing innovations in the webcams market by Microsoft will influence more companies to bring in innovations.
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