WebRTC Expert Feature

December 21, 2022

The WebRTC Market Is Rocketing. Which Sector, Which Region?

Experts predict the WebRTC market to grow at 41.2% annual growth rate. It will reach more than 38 000 million dollars by 2027. The technology is in constant growth and its future seems promising.

What’s It About?

WebRTC is a technology that enables real-time communication within web browsers. This includes mobile applications. It allows embedding audio and video communication into web pages and apps. The advantage is that it does that without the need for plug-ins or third-party software. WebRTC is an open source project supported by Google, Mozilla, and Opera, among others. The growing adoption of WebRTC-based solutions in various industries is a key element. It pushes the growth of the WebRTC market.

Sectors With Significant Growth

WebRTCs are being increasingly used in various industries.

The Banking, financial services and insurance (BFSI) industry is expected to grow at the highest . The adoption of WebRTC-based solutions in the industry is due to the growing need for secure and efficient communication solutions.

The healthcare industry is also expected to grow at a significant pace. The growing adoption of WebRTC is due to telehealth. This trend emerged in the healthcare industry during the COVID-19 pandemic. The idea is to use WebRTC services to monitor patients outside of the traditional clinic.

The education sector is also expected to grow at an important rate. The COVID-19 pandemic accelerated and implemented a new way to teach and to learn. According to studies, within five years, 50% of classes will be taught online.

Same for the retail industry. WebRTC enables organizations to interact face-to-face with their customers.

The government sector is also expected to grow at a significant rate during the forecast period. As confidentiality and safety within governments is crucial, the development and use of WebRtC seems to be the most accurate choice for State bodies. Login to Hellspin Casino and play with real money online.

Regions Where WebRTC Is Developing Fast

The Asia Pacific is expected to grow at the highest CAGR during the forecast period. This can be attributed to the fact that this region wants to create its own WebRTC system to avoid dependence on Western countries. The growth includes mainly China, India, and Japan.

The Middle East & Africa is also expected to grow at a significant rate during the forecast period. Even though the development will be lower than the Asia Pacific area, the growth promises to be high. The growing adoption of WebRTC-based solutions in countries such as Saudi Arabia, the UAE, and South Africa are leaders. They are driving the market in the Middle East & Africa region.

Latin America is expected to face an increase in WebRTC use. Communications providers report a marked level of interest. They are partners integrating such solutions and reselling them to customers who want to roll out real time audiovisual meetings in their own organizations. Brazil and Mexico are the main actors of this growth in the region.

North America Has the Stranglehold On The Market

The US and Canada will most probably rule over the global market. Telemedicine organizations are the main factor as they are growing fast. The presence of key players and high technological advancements in this region is the cause behind this growth.

Some of the big players in the WebRTC market include Google, Cisco, Microsoft, TokBox, Avaya, and RingCentral. There are good chances that, through time, new ones pop up in the sector.

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