Impact of COVID-19 on the Global Webcam Market
Webcams are digital video cameras used for the transmission of real-time videos and images. Webcams find applications in multiple devices, including laptops and desktops, for supporting live recording. They are widely adopted in the commercial sector for various purposes, such as telecommuting and video conferencing for more accessible interactions. Webcams feature high-resolution lenses along with semiconductor chips that capture high-resolution images and video recordings. Moreover, Industry participants continually provide new products with technological advancements to cater to the consumer requirements for devices with improved recording, streaming, and video quality.
The spread of COVID-19 from China has considerably impacted webcam manufacturing activities and supply chains across the globe. The rapid spread of the pandemic has led to lockdowns being initiated across several countries, which has disrupted supply chains and forced the closure of numerous manufacturing plants. The slowdown caused in the production of webcams has impacted the growth of end-use industries and thus is expected to hamper the growth of the webcams market over the forecast period.
Companies across the globe are focused on lowering operational costs for surviving in the webcams market. The future manufacturing of webcams and related products in the post-lockdown period is expected to drive the growth of the market. Supportive government policies and relaxations in the lockdowns are expected to boost the demand for webcams over the forecast period. The industry players’ adoption of remote working policies to prevent the spread of COVID-19 at workplaces is likely to influence the webcams market positively. Thus, the demand for webcams and related products is expected to increase due to their rising adoption for security & surveillance, entertainment, video conferencing, and live events, among other end uses. The webcams market is expected to stabilize by Q4 of 2020.