Market was dominated by North America in 2019 and is expected to maintain this trend during the forecast period. Globally, webRTC market can be classified into North America, Europe, Asia Pacific (APAC), Middle East and Africa, China and Latin America. The upsurge in the segment is due to the increasing adoption of telehealth platforms to increase patient engagement and reduce additional costs. Telecom companies are reviewing their traditional communication services and implementing new solutions that meet the current communication trends. The use of mobile applications powered by WebRTC is expected to upkeep the segment growth over the forecast period while the demand for video conferencing solutions across various industry verticals, such as IT & telecom, retail, and BFSI, is rising with PCs being preferred for online business communication.Įnd user segment is segmented into IT & Telecom and healthcare. Enabled device segment is divided into smartphones & tablets and pcs. The solutions segment held the highest market share of 72.24% in 2019 and will expand further at a steady CAGR from 2020 to 2027 whereas services is estimated to register the maximum CAGR exceeding 48% over the forecast period. Component segment is classified into solutions and services. Globally market is segmented into component, enabled device and end user. Use of Internet could result in privacy issues as it is still not clear how WebRTC manages the security and privacy. Restraint for the market is that it uses internet platform which is a public domain and thus, the quality of service cannot be guaranteed all the time. Powering real-time communication that can operate over a web browser is making its way into banking and insurance websites, owing to which, organizations can interact with users more efficiently. Rising usage of the internet in the BFSI sector is also expected to propel the market over the forecast period.
Furthermore, the advent of 5G technology will help broadcasting service providers to enhance their business in areas, such as e-sports streaming, personal broadcasting, interactive advertising, and educational broadcasting, to provide high-quality images by using WebRTC. The rising penetration of internet is anticipated to drive market growth. According to the International Telecommunication Union (ITU), in 2019, about 53.6% of the global population had access to the internet as compared to 51.4% in 2018. The rising number of internet users is predicted to positively impact the market over the forecast period.
Webification of communications systems, and growth in adoption of WebRTC solution to offer better customer whereas integration of AI and increase in use cases of WebRTC in IoT are expected to create lucrative opportunities for the market expansion. The browsers use Session Description Protocol (SDP) to establish a connection for data transfer. The key functionality of this market not only reduces the time required but also makes the process easy for a non-technical user since WebRTC requires no plugins, frameworks or applications.
Know more about this report: request for sample pages It enables peer to peer audio, video and data communication between the browsers without plugins. Web Real-Time Communication (WebRTC) considered to be an internet browser interface which enables real-time communication between two internet browsers. Web Real-Time Communication market was valued at USD 2.8 Billion in 2020 and it is expected to reach USD 38.5 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 44.2% during the period 2020–2027.
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