WebRTC Rising in Value

As the business world grows more and more connected, people all around the world are looking for ways to collaborate with each other, which can yield advancements in technology that previously could only be dreamed about. It creates a smaller and more connected world. In order for all of this to happen, however, businesses need to communicate from hundreds of miles away instantly, and through a variety of different forms of media. It is for this reason that businesses have begun to focus on WebRTC, and are expected to continue to in the coming years.

Last year, market research estimated that the market value for WebRTC was equal to 10.71 billion dollars, according to Transparency Market Research. Now, that figure is nothing to sneeze at, but consider this: those same experts predict that market to expand at a compound annual growth rate of 24.30 percent over the next eight years. Following this projection, the market is expected to be valued at 81.52 billion dollars by the end of 2025.

Currently, WebRTC sees far and away the most use in North America. Over 40 percent of the WebRTC market is currently in North America, with the rest of it spread out across Europe, Africa, Asia, and the Middle East. This is a bit of a catch-22, however, as these other areas will likely see much faster rates of WebRTC market growth over the next eight years, as they simply have much more room to grow.

Businesses are so drawn to the world of WebRTC because it offers them a wide variety of modes of communication that can all be run through the same platform. Businesses can run voice calls, video conferencing, text based communication, and screen sharing all through their Internet browsers. This represents a huge advantage over legal systems, which required different hardware and connections to support different types of communications. WebRTC, on the other hand, can be sustained simply through an Internet connection. For this reason, more and more businesses are selecting WebRTC when it comes time to install a new communications network, and younger businesses are too opting for the newer technology. For these reasons, the future is bright for WebRTC.