The document camera
market is expected
to grow from USD 370 million in 2020to USD 545 million by 2025; it is expected
to grow at a CAGR of 8.1% during the forecast period. 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.
The portable segment
is expected to dominate as well as witness significant growth in the document
camera market during the forecast period. Portability is one of the key
features that end users look for in a document camera; it allows easy storage,
convenient placement on a table or other areas, and easier management of the
equipment.
The market for
wireless document cameras is expected to witness significant 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.
Among all end users,
the document camera market for education sector is expected to grow at the highest
CAGR from 2020 to 2025. The rapid digitalization in the education sector is one
of the key factors that has led to the high penetration of document cameras in
this market. Additionally, COVID-19 has resulted in a rise in the trend of
online education and has boosted the demand for devices assisting online
education. This factor is also expected to impact the growth of document camera
market positively in the coming years.
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Among all regions,
the document camera market in APAC is expected to grow at the highest CAGR during
the forecast period. China, Japan, Australia, and India are a few major
countries expected to accelerate the growth of the document camera market in
APAC. Moreover, the presence of a significant number of companies, such as AV er
Information (Taiwan), ELMO Company (Japan), Seiko Epson (Japan), Lumens Digital
Optics (Taiwan), and Hong Kong Cod is Electronic Co. (Hong Kong), providing
document cameras also has a positive impact on the growth of the document
camera market in APAC.
Key players in the
document camera market are grabbing opportunities by launching new products.
Besides, product launches, partnerships, expansions, and collaborations were a few of the other strategies adopted by companies in
this market to strengthen their market position.
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