convert Usb camera to IP camera

I have a USB camera, is it possible to convert it to an IP camera using esp8266 module?So that i can stream video using wifi.

No.

Look for "wireless usb hub"

Its not really in the realms of Arduino i dont think but there are methods to do it if that's all you are after.

See HERE

Ballscrewbob:
Look for "wireless usb hub"

Its not really in the realms of Arduino i dont think but there are methods to do it if that's all you are after.

See HERE

Is there any wireless camera modules for Raspberry Pi? I need to do video processing in Raspberry Pi, It will be useful for me, if there is a wireless camera module, Because my project is about a wearable camera device.

You can use any webcam with the Raspberry Pi, and they have their own hi resolution camara that plugs into the board.

There is a whole section of their forum devoted to it.

The Pi 3 has built in Wi-fi and Bluetooth so you should be able to use cameras that output in that format.