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At a CAGR of41.2% | WebRTC Market Growth by Prominent Players 2021: with Global Industry Scope, Analysis by Industry Trends, Future Prospects, Manufacturers with Size and Share Analysis till 2027
Global WebRTC Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Rising number ofinternet users,technological advancementsand growing demand fordemand for voice calling & conferencingare some major factors drive the
Published : 3 years ago, on
Global WebRTC Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Rising number ofinternet users,technological advancementsand growing demand fordemand for voice calling & conferencingare some major factors drive the growth of the Global WebRTC Market.
Global WebRTC Market is valued atUSD2415.1 Million in 2020and expected to reachUSD38160.4 Million by 2027with aCAGR of41.2%over the forecast period.
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Scope of GlobalWebRTCMarketReport:
what is webrtc?
Web Real Time Communication is an online source application supporting program to program continuous connection. WebRTC allows P2P audio, video and data communication between the browsers without plug-in. WebRTC is ideal with HTML, TCP/IP, and HTTP conventions and uses different code for a smooth exchange of video, voice, and message. Currently, various browsers support WebRTC such as Mozilla Fire fox, Google Chrome, Opera, and Microsoft IE. It is required to increment to a great extent because of an ascent in its application in end-use parts, for example, e-commerce, telecom, IT, web-based business, and others business.
what is webrtc used for ?
Web Real Time Communications gives a period effective, effectively open, and disorganize business communication framework. It is an open source API and effectively gotten to by application engineers. WebRTC does not depend upon the steps and device on which it is coordinated, which is anticipated to pull in worldwide clients. Recently, there has been an expansion in the quantity of WebRTC clients in the versatile application.
WebRTC reduces the time required as well as makes the process easy for a non-technical user since WebRTC requires no plug-in, frameworks or applications. The browsers work Session Description Protocol (SDP) to establish a connection for data transfer. JavaScript Application Programming Interface (APIs) and HTML5 are used by WebRTC for embedded communication within the browsers. However, WebRTC is an emerging platform that is foresees to have notable impact on the communication between browsers in near future.
COVID-19 pandemic has shown a positive impact on global webRTC market. A lot of large enterprises and small scale enterprises have approached WebRTC managed service providers which have scaled existing services, modernized legacy applications. The pandemic has led to the cancellation of many corporate events, trade shows, international seminars, and investor presentations. As a result, these events have opted for video conferencing for communicating these events. Work-from-home regulations have resulted in an increased demand for RTC solutions, which has positively affected the WebRTC market. Strict lockdown measures were implemented in many countries, because of which, schools are expected to be shut for a large part of the year, consequently increases the demand for e-learning.
GlobalWebRTCMarketSegmentation:
The global webRTC market is segmented on the basis of component, industry verticals and regional level & country level. Based on component, the global WebRTC market is divided into solution and services. Based on verticals, the global WebRTC market is divided into data sharing, video and voice. Based on industry vertical, the global WebRTC market is divided into BFSI, e-commerce manufacturing, healthcare & life sciences, IT & telecommunications, consumer goods & retail, government & public sector, media & entertainment and others.
By Component:
- Solution
- Services
By Verticals:
- BFSI
- E-commerce
- Education
- Healthcare
- IT
- Media & Entertainment
- Telecom
- Others (Energy and Transportation)
The regions covered in this webRTC market are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of webRTC market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players forGlobalWebRTCMarketReport:
global webrtc providers or webRTC companies include Citrix Systems, Inc., Google Inc., Facebook, Inc., TokBox Inc., Sinch AB, Twilio, Inc., WIRE SWISS GmbH, Talko Inc., Screenhero, Inc., Comcast Corporation and others.
Rising Number of Internet Users,Technological Advancement,Growing Adoption Voice Calling & Conferencingare Some Major Factors Drive theMarketGrowth
The major factors driving the growth of global webRTC market are increasing numbers of internet users. For example; as per the Our World Data; globally the number of internet users increased from only413 millionin 2000 to over3.4 billionin 2016. Cybersecurity Ventures predicts that there will be 6 billion Internet users by 2022 (75 percentof the projected world population of8 billion) and more than7.5 billionInternet users by 2030 (90 percentof the projected world population of8.5 billion, 6 years of age and older).
In addition, the growth of global webRTC market is due to the technological advancements in this field. Increasing adoption for voice calling and conferencing isexpected to boost the market forecast growth. WebRTC provides better video and voice quality with advanced security and other operational features. For instance, Snapchat utilizes WebRTC to control its video calling highlight. Snapchat has no Web application for its fundamental highlights.
However, the quality of service cannot be guaranteed all the time andrise in security and privacy concerns are some factors that may hamper the growth of the WebRTC market. In spite of that, integration of AI with WebRTC, proliferation of BYOD trend, and increase in use of WebRTC for IoTare factors which may offer more opportunities for the further growth of the market.
North America is Expected to Dominate theGlobalWebRTCMarket
North America is expected to dominate the global WebRTC market owing to the telemedicine organizations are growing rapidly due to presence of key players and high technological advancements in this region. For example, in September 2019, Cisco Systems, Inc. declared the acquisition of Voicea that gives real-time solutions. The securing was pointed toward improving Cisco System Inc’s. Webex portfolio with record benefits that combined automated speech acknowledgment and artificial intelligence (AI). Asia Pacific is expected to witness a significant growth in the global WebRTC market over the forecast period owing to the expanding technology use in the human services division. Countries like India and China are viewed as the main supporters of the WebRTC market.
North America
- U.S.
- Canada
Europe
- U.K.
- France
- Germany
- Italy
Asia Pacific
- China
- Japan
- India
- Southeast Asia
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
Which are the driving factors responsible for the growth of market?
Which are the roadblock factors of this market?
What are the new opportunities, by which market will grow in coming years?
What are the trends of this market?
Which are main factors responsible for new product launch?
How big is the global & regional market in terms of revenue, sales and production?
How far will the market grow in forecast period in terms of revenue, sales and production?
Which region is dominating the global market and what are the market shares of each region in the overall market in 2019?
How will each segment grow over the forecast period and how much revenue will these segment account for in 2027?
Which region has more opportunities?
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