Wilmington, Delaware, United States, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2021, the value of global WebRTC market stood at US$ 4.30 Bn. The web real-time communication market statistics forecast the market to progress at a CAGR of 35.30% during the forecast period, from 2022 to 2031. The global WebRTC market size is anticipated to touch value of US$ 87.84 Bn by 2031. WebRTC solutions are integrated by providers of unified communication and VoIP services and solutions to empower their clients with web-based real-time communication tools including video conferencing, voice calling, and messaging. In the near future, businesses including smart manufacturing, connected vehicles, and telecoms can utilize WebRTC coupled with 5G technology. Smart factories can make decisions in real-time owing to WebRTC's secure communication, interoperability, and flexibility features as well as its high bandwidth and low latency. As a result, performance and process effectiveness rise.
In order to make sure that data, audio, and video, audio, and data are transferred seamlessly, WebRTC uses a number of codecs that are compatible with the HTML, TCP/IP, and HTTP protocols. WebRTC technologies can also be built into contemporary web browsers like Microsoft Edge, Google Chrome, Mozilla Firefox, and Opera.
By 2022, North America is predicted to have a leading proportion of the global WebRTC market. The proliferation of and developments in network and communication technologies is expected to propel the regional WebRTC market. The need for low-cost, safe, and reliable communication and also virtual meeting solutions are growing, which is expected to accelerate uptake of WebRTC video services in the region.
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Key Findings of Market Report
- WebRTC-integrated unified communication systems offer a variety of real-time communications as well as non-real-time communications, including voicemail, email, fax, and SMS on a single platform. The need for web-based communication channels that are incorporated with unified communication technologies is rising as businesses gradually move more of their activities to the internet or cloud.
- The global WebRTC market is anticipated to be driven by rising VoIP and unified communication use. VoIP service providers use WebRTC APIs to add video to client touchpoints, share screens sans installing additional software, as well as create contextual apps integrating interactions and data. Such advantages are anticipated to boost market expansion.
- WebRTC-integrated 5G's availability, high bandwidth, and low latency capabilities enable sensors and IoT technology to deliver exact data in real-time, lowering risk as well as production costs. A multimedia staff communications application and video assessment tool can be created using 5G and WebRTC for teamwork and user authentication and validation. This would make it possible for AI systems to instantly anticipate unexpected events like accidents and industrial breakdowns. The adoption of 5G technology is opening up profitable potential for top WebRTC companies.
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Global WebRTC Market: Growth Drivers
- The need for web-based communication channels or WebRTC browsers is being fuelled by a rise in the usage of mobile devices and the prevalence of mobile internet connections. Due to this, businesses are able to increase their labour around the globe. Team members can connect and work together more effectively on mobile devices equipped with internet access and WebRTC browsers. These devices enable teleconferences, data sharing, and video chats without having to download any additional plugins or software.
- Due to the increasing adoption of web-based audio and video communication technologies in Asia Pacific region, the regional market is anticipated to account for a WebRTC market share during the forecast timeline. The popularity of telemedicine and e-learning platforms in nations like India and China is being fueled by the advent of affordable mobile internet connections and mobile devices.
Global WebRTC Market: Key Players
Some of the key market players are
- Citrix Systems Inc.
- Huawei Technologies Co. Ltd.
- Cafex Communications Inc.
- Quobis Networks, S.L.
- Cisco Systems, Inc.
- Oracle Corporation
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Global WebRTC Market: Segmentation
Component
- Solution
- Services
End Use
- IT & Telecom
- Healthcare
- Education
- BFSI
- Media & Entertainment
- E-commerce
- Others
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