Pune, India, July 31, 2023 (GLOBE NEWSWIRE) -- According to our latest market study on "USB Camera Controller Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Device Type, Connectivity, Application, and Geography," the market is expected to grow from US$ 1.82 billion in 2023 to US$ 4.87 billion by 2030; it is estimated to grow at a CAGR of 15.1% from 2023 to 2030. The construction industry of the country has seen huge growth due to the increasing number of residential and nonresidential construction activities. In May 2023, the construction of 1,631,000 new houses started, which is an increase of 5.7% compared to the May 2022 rate of 1,543,000.
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The construction sector has seen tremendous growth in Europe, mainly in terms of new construction, which is fueling the growth of USB camera controller market. The construction industry in Europe plays an important role in the economy, employing about 18 million people in the workforce and contributing to 9% of the total GDP of the European Union. The construction sector creates new residential, industrial, and commercial buildings for Europeans to work and live in, and builds infrastructure, maintains and repairs older structures and buildings. Europe is increasingly involved in initiating various major construction projects, which is expected to increase the adoption of USB controlled cameras in the European Union. Below is a list of a few major construction projects initiated in Europe in 2022. Krampnitz Housing Development (US$ 1.83 billion): The project involves the construction of the Krampnitz housing complex to provide living space for 10,000 people. Ostendstraße 1–14 Commercial Buildings (US$ 1.29 billion): This project aims to meet the growing requirement for office, retail, hotel, and commercial facilities for people in the region.
Such an increase in residential and nonresidential construction projects is expected to boost the adoption of remote-control USB cameras in Europe, fueling the demand for USB camera controllers as they help control the movement and focus of the camera, further boosting the USB camera controller market growth. Moreover, the esports industry has witnessed tremendous growth and recognition in different countries in Europe. For instance, in June 2023, the government of Sweden announced that it had officially recognized esports as a sport and would be embraced as a legitimate sporting activity. Similarly, according to the report published by the German Games Industry Association, in 2022, the German gaming market passed US$ 10.75 billion (EUR 9.87 billion), which was a growth of 1% compared to 2021. Thus, such growth in the esports industry will raise the demand for esports streaming, which can be done with the help of USB camera controllers as the remote or joystick helps in panning, tilting, and zooming the cameras to capture accurate images for esports live stream. Hence, the growing construction projects and esports industry will further propel the growth of the USB camera controller market.
Germany is one of the biggest construction markets in Europe, deploying ~10% of the gross domestic product in construction every year. Hence, the construction industry occupies a relatively important position and contributes considerably to the economic growth in Germany. The German construction sector is experiencing a boom in construction projects due to strong urbanization and the need for residences, which is further expected to propel the USB camera controller market growth. Some of the largest construction projects initiated in Germany in 2022 are as follows:
The Hochmuttinger Straße Residential Quarter: The project aims to build affordable, ecological housing quarters in Munich. The investment of US$ 225 million is done on the project and is expected to be completed in Q4 of 2025.
Frechen NEOBEL Mixed-Use Development: The project involves the construction for residential, office, and commercial facilities in North Rhine-Westphalia with an investment of US$ 163 million. The project is expected to be completed in Q4 of 2025.
Krampnitz Housing Development: The project aims to provide living space for 10,000 people in Potsdam, Brandenburg, with an investment of US$ 1,831 million.
The increase in residential and nonresidential construction projects raises the demand for digital camera USB control for security and surveillance and video conferencing in offices, contributing to the growth of the USB camera controller market in Germany.
Global USB Camera Controller Market: Device Type Overview
Based on device type, the global USB camera controller market is segmented into remote and joystick. The joystick segment is expected to account for the larger share in the USB camera controller market in 2023, as it provides smooth camera movements, multi-axel control, customizable functions, and precise control.
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Global USB Camera Controller Market: Competitive Landscape and Key Developments
Aver Information Inc, Genesys Logic Inc, Infineon Technologies AG, PTZOptics, Realtek Semiconductor Corp, Shenzhen Minrray Industry Co Ltd, Sonix Technology Co Ltd, Sony Group Corp, SZ Tenveo, and TREEHAVEN Technologies Inc are among the key USB camera controller market players profiled in the report which continuously work on providing different USB cameras, such as subsite sewer camera, crawler inspection camera, pipe crawler camera, sewer crawler camera, and others. Several other essential USB camera controller market players were analyzed for a holistic view of the market and its ecosystem. The USB camera controller market report provides detailed market insights, which can help major players strategize their growth.
In 2021, Infineon Technologies AG created a turnkey solution with its Time-of-Flight (ToF) partner pmdtechnologies and the premier vision-based imaging specialist ArcSoft that allows a ToF camera to work under the display of commercial smartphones. It will deliver consistent, high-quality infrared pictures and 3D data for security applications such as facial authentication and mobile payment.
In 2022, Canon announced the creation of a new remote control for still photographers, which will allow professional photographers to operate Canon interchangeable-lens cameras remotely. The future of camera-controlling remotes is likely to shift toward wireless technology and integration with new devices.
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