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  • 22 May 2019 23:44

WebRTC Market Set to be Fastest Growing

The global WebRTC market size projected to reach at nearly USD 55.12 billion by 2026 with flourishing CAGR of more than 18.1% from 2019 to 2026.

WebRTC (Real-Time Communication) enables real-time video, voice, and data sharing with the help of a web browser. WebRTC eliminates the need for browser plugins. The architecture for WebRTC includes browser clients and web servers. This technology enables point-to-point and multi-point browser communication.

The rising use of online platforms for shopping has led to the demand for solutions that offer real-time information to retailers and customers. The WebRTC market is likely to witness significant growth in the future, owing to the increasing demand for real-time information collection. Retail websites that are powered with WebRTC help retailers to assist online customers with quicker reviews and improved guidance to purchase products from any location. However, the rising incidences of cyber-attacks pose a threat to the WebRTC market growth. Alternatively, the increasing adoption of “Internet of Things” (IoT) is projected to open new growth avenues for the WebRTC market over the estimated time period.

The WebRTC market is segmented on the basis of the solution, service, and end-use industry. By solution, the global WebRTC market includes gaming, messaging and file sharing, social networking, video calling and conference, and voice calling and conference. Consulting services, implementation and integration services, and others form the service segment of the global WebRTC market. Consulting services are expected to grow significantly over the estimated timeframe. The end-use industry segment includes retail, BFSI, IT and telecom, healthcare, government sector, media and entertainment, and others. The IT and telecom segment is anticipated to hold a noteworthy share of the WebRTC market over the estimated time period, owing to the rising demand for video calling and conference solutions among numerous IT organizations. Many IT and telecom companies are focusing on increasing their operations across the emerging Asian economies, such as India and China.

The portable segment held an offer of 49.0% of the worldwide WebRTC Market in 2018. Medicinal services are foreseen to be a quickly extending segment of the market. It is relied upon to grow at a CAGR of 21.9% during the conjecture time frame. In 2017, broadband suppliers in the U.S. contributed about USD 76.3 billion on system framework when contrasted with USD 74.8 billion out of 2016. As indicated by the "CTIA", the U.S. remote technology contributed about USD 475 billion every year to the nation's economy. The UK is required to be a noteworthy supporter of this local market's growth because of the rising on the web retail deals. In 2017, online retail deals in the UK were about USD 87.62 billion when contrasted with USD 79.3 billion out of 2016. The telemedicine market in India was esteemed at USD 15 million out of 2016 and is foreseen to reach USD 32 million by 2020. Besides, IT ventures made in China's emergency clinic frameworks are anticipated to reach USD 9.5 billion by 2022.

Major companies contributing the global WebRTC market are Acano Ltd., Avaya, Inc., Cafex Communications Inc., Citrix Systems Inc., Dialogic Corporation, Frozen Mountain, Genband US LLC, Google Incorporation, Oracle Corporation, Quobis Networks, S.L, Sinch AB, TeleStax, Inc., TokBox, and Twilio.

Market Segmentation By Platform Provider: Browser, Mobile, Unified Communication

Market Segmentation By Solution: Data Sharing, Video, Voice

Market Segmentation By Application: BFSI, E-commerce, Education, Healthcare, IT, Media & Entertainment, Telecom, Others (Energy and Transportation)

Market Segmentation By Region: North America, Europe, Asia-Pacific, Latin America

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