The global webcam market size is expected to reach USD 18.1 billion by 2028, registering a CAGR of 12.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. Factors such as the rising concern regarding security and surveillance, increasing emphasis on virtual meetings across the commercial sector, and continuous product innovations are expected to support the growth of the market.
The market has also benefitted from the continual advancements in technology, allowing for better recording, zoom quality, and better streaming. An increasing number of webcams in the market incorporate advanced features such as 1080p resolution, 60 fps video streaming, auto light correction, and autofocus, targeting emerging customers such as video-streamers and professional gamers. Advanced features such as these also facilitate the application of webcams in smart home security systems for remote surveillance.
Furthermore, state-of-the-art web cameras are finding increased demand across telehealth services. Healthcare professionals deploy webcams to examine and prescribe medicines to patients living in remote or distant locations. For instance, Secure Telehealth, a web-based platform provider for telemental health, collaborated with Logitech. Under the collaboration, the company deployed cost-effective and high-resolution Logitech webcams to offer remote mental health services to patients from distant geographies.
The COVID-19 pandemic has created an unprecedented demand for web cameras worldwide. The adoption of hybrid business models and remote working models in the enterprise sector has helped open promising opportunities for the market. In 2020, leading market participants, including Logitech, have witnessed more than 100% sales compared to the previous year, thanks to the notable rise in video conferencing and connecting virtually with peers and family members. Moreover, webcams played a prominent part in ensuring seamless access to K-12 education activities at the global level. Online education was promoted for continuing curriculums without any disruptions in the knowledge transfer between teachers and students.
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In terms of technology, the digital segment is likely to witness the fastest CAGR of nearly 15.0% over the forecast period. This can be attributed to the soaring demand for better image quality and more video coverage area
In terms of product, the wireless segment is expected to witness the fastest growth. Volume-wise, the segment is expected to register a CAGR of close to 20% over the forecast period owing to benefits such as portability and better ease of use as compared to USB webcams
In terms of end use, the security and surveillance segment captured a revenue share of nearly 20% in 2020 with the rising need for real-time monitoring to detect uncertain movement and alerting about unexpected events
North America dominated in 2020 and accounted for a revenue share of over 35% of the overall market. This can be attributed to the early adoption of the latest technologies by the consumers based in this region
Grand View Research has segmented the global webcam market based on product, technology, distribution channel, end use, and region:
Webcam Product Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2028)
Webcam Technology Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2028)
Webcam Distribution Channel Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2028)
Brick & Mortar
Webcam End-use Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2028)
Security & surveillance
Webcam Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2028)
Middle East & Africa
List of Key Players of Webcam Market
Cisco Systems, Inc.
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