According to Custom Market Insights (CMI), The Global WebRTC Market was estimated at USD 4 billion in 2021 and is anticipated to reach around USD 87 billion by 2030, growing at a CAGR of roughly 35% between 2022 and 2030.
The global WebRTC market research report offers an in-depth analysis of the global market size, further segmented into the regional and country-level market size and market growth. Also, it provides market share, sales analysis, competitive landscape, impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.
WebRTC Market: Overview
WebRTC is an open project which provides real-time communication capabilities through straightforward APIs to browsers and mobile applications. WebRTC allows for seamless coordination and communication within an organization’s present structure and is compatible with UC or VoIP, which are predicted to accelerate industry growth.
Browse the full “WebRTC Market Size, Trends and Insights By Components (Solution, Message & File Sharing, Voice Calling & Conference, Video Calling & Conference, Others, Services), By Enabled Devices (PCs, Smartphones & Tablets, Others), By End-user (IT & Telecom, Retail, Media & Entertainment, BFSI, Healthcare, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/webrtc-market/
Some of the important factors bolstering the growth of the worldwide web real-time communication market are the cost-effective advantages of WebRTC technology, the verification of real-time communication, and the rise in business use of WebRTC technology. Additionally, rising smartphone usage, particularly in Asia-Pacific, increased internet connectivity, and the development of necessary internet infrastructure in Asia-Pacific and Africa all contribute to the market’s growth. However, it is anticipated that the lack of global standards and the rise in security and privacy concerns will limit the market’s expansion for real-time web communication. Contrarily, the proliferation of the BYOD trend, the rise in the use of WebRTC for IoT, and the integration of AI with WebRTC offer lucrative growth potential for the worldwide WebRTC market throughout the analyzed period.
The WebRTC market is categorized into components, enabled devices, and end-user. By end-user, in 2021, the IT & telecom sector had the greatest market share. The internet and application ecosystem have already disrupted the telecom sector. Real-time communication via the internet has become crucial as social networks and VoIP gain popularity among users worldwide. To keep up with the latest communication trends, telecom companies are examining their old communication services and creating new ones.
The healthcare segment is expected to grow at a higher CAGR from 2022 to 2030. This growth results from telehealth platforms being used more frequently to improve patient engagement and cut expenses. Video conferencing has become crucial since patients prefer to meet their healthcare providers conveniently, no matter where they are. To keep up with patients’ increased demands for technology, healthcare organizations are adopting telehealth.
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Factors including technological advancements in WebRTC, rising investments by the top regional market participants, and the presence of multiple sizable WebRTC solution suppliers are anticipated to account for the greatest share. These suppliers concentrate on providing affordable, simple-to-use WebRTC-based communication solutions that are sector-specific.
Due to a sharp rise in demand for web-based video and audio communications over the past several years, APAC is predicted to experience the fastest growth rate throughout the projection period. Large corporations and SMBs in the APAC region have started to recognize the significance of WebRTC solutions and are concentrating on deploying specialized WebRTC solutions to enable accessible real-time communication and effectively meet their customers’ needs.
Competitive Landscape/ Key Players Insights
Our market analysis on WebRTC also involves a separate section dedicated to major players operating in the market. Our analysts offer an understanding of the financial statements of all the key participants, their product portfolios and SWOT analysis. Moreover, the report also offers a competitive landscape chapter, including strategic key development, market share, and global market ranking analysis of the players mentioned. Additionally, we offer our clients leverage to modify the list of players mentioned in our report as a part of our free customization.
Some of the prominent players
- Avaya, Inc.
- Dialogic Corp.
- Oracle Corp.
- Cisco Systems, Inc.
- Plivo, Inc.
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