Document Camera Market worth $545 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 4, 2020 /PRNewswire/ -- According to the new market research report "Document Camera Market with COVID-19 Impact Analysis By Product Type (Portable and Non-portable), Connection Type (Wired and Wireless), End User (Education, Corporate, and Others), and Geography- Global Forecast to 2025", published by MarketsandMarkets™, the Document Camera Market is expected to grow from USD 370 million in 2020 to USD 545 million by 2025 it is expected to grow at a CAGR of 8.1% from 2020 to 2025. The document camera market had been witnessing growth in the past years, mainly owing to the high adoption of document cameras from the education sector. However, COVID-19 has led to a decline in the growth rate of the document camera market. This is because the educational institutions and corporate offices, which are the major demand generators of document cameras, are currently non-operational in various countries, thereby negatively impacting the demand for document cameras. Additionally, COVID-19 has also disrupted the supply chain of document cameras, which is hindering the manufacturing and distribution of document cameras.
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Portable segment to hold the largest share of the document camera market, by type, in 2020
Portable segment will lead the document camera market, by product type, in terms of size, in 2020. Portable document cameras have attractive features such as easy storage, convenient placement on a table or other areas, and easier management of the equipment, which has led to its high popularity in the document camera market.
The market for wireless document cameras to grow at the highest CAGR during the forecast period
The document camera market, based on connection type, has been segmented into wired and wireless. Among these types, the market for wireless connection type document camera is expected towitness the highest growth during the forecast period. Wireless connectivity document cameras give the user flexibility to place and point the camera anywhere in the room as well as move freely in the room. This is one of the key factors leading to the upsurge in the demand for wireless connectivity document cameras.
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North America to hold the largest share of document camera market by 2020
North America is expected to hold the largest share of the document camera market by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. Europe is expected to account for the second-largest share of the document camera market during the forecast period. The UK and Grmany are significant demand-generating countries for document camera in this region.
A few key players operating in the document camera market are AVer Information (Taiwan), WolfVision (Austria), ELMO Company (Japan), Seiko Epson (Japan), Lumens Digital Optics (Taiwan), IPEVO (US), and HUE (UK).
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