The global web real-time communication market is displaying unprecedented growth since the inception of WebRTC in 2011 by the World Wide Web Consortium and Internet Engineering Task Force. WebRTC has brought a sea of change in communication mechanism overcoming complexity and cost consideration of predecessor technologies that limited their use to specialized service providers.
WebRTC refers to a set of standards used to embed real-time elements (video, voice, or data) between peer-to-peer connections. Being a free, open project it helps simplify implementation, reduces technology cost, and stimulate a broad ecosystem for real-time communication capabilities. These factors along with the compatibility of WebRTC with multiple devices is the reason for the phenomenal growth of the WebRTC market over the past several years. For all the positive reasons the WebRTC market is expected to display outstanding growth in the future as well.
Transparency Market Research finds that the global WebRTC market is expected to rise at a phenomenal 24.30% CAGR between 2017 and 2025. If the figure holds true, the valuation of the market will reach US$81.52 bn by 2025 increasing from US$10.71 bn in 2016.
This blogpost presents answers to several questions that are important with respect to the growth of global WebRTC market.
Q. What are the major factors favoring the growth of WebRTC market?
A. The rising popularity of IP multimedia subsystems (IMS) is positively impacting the adoption of WebRTC solutions. In the telecommunication industry, IMS offers standard voice call services over an IP packet-switched network. With the emergence of 4G LTE, the adoption of Voice over LTE (VoLTE) is expected to set a new benchmark for mobile users.
As WebRTC functions on IP-based systems, mobile network operators are using WebRTC solutions to reap advantages of VoLTE for mobile users, thereby having a positive impact on WebRTC market. Apart from this, device compatibility and ease of use are also positively influencing the market’s growth.
Browse The Press Release : http://www.transparencymarketresearch.com/pressrelease/webrtc-market.htm
Q. How are regional markets for WebRTC faring in terms of growth?
A. North America tops the global market for WebRTC with the region holding a share of more than 40% in 2016. The increasing uptake of WebRTC technology mainly due to its increasing usage in UCaaS and telecom services is benefitting the growth of this regional market. Analysts predict that North America will retain its dominant position over the coming years because of high internet speed and an incessantly increasing number of mobile subscribers in the region.
Europe WebRTC market is displaying substantial growth due to the early adoption of technology in the region. Asia Pacific is expected to present lucrative growth opportunities for players in the WebRTC market due to significant improvement in telecom services and an increasing number of internet users.
Q. Which solution segment of WebRTC displays the highest demand?
A. Among all solution segments of WebRTC, the demand for video outpaces all. This segment held a share of more than 57% in the overall market in 2016.