Web Real-time Communications (WebRTC) has been in an uphill battle with two of the four major browsers in the market place: Microsoft's Internet Explorer (now Edge) and Apple's Safari. Their reluctance to integrate this application in their browser has in great part limited the growth of WebRTC. But as Microsoft and Apple have come around, and more organizations deploy the technology as part of their communications solution, projections of the market value have fluctuated greatly. This has led many firms to reevaluate their previous forecasts with update estimates based on new opportunities.
The difference can be seen between Future Market Insights' “Web Real-time Communication (RTC) Solution Market: Global Industry Analysis and Opportunity Assessment, 2015–2025” report, and that of Transparency Market Research’s “WebRTC Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
While Future Market Insights has the market at $22.97B by 2025, Transparency Market Research is more optimistic, expecting a CAGR of 24.30 percent between 2017 and 2025, reaching $81.52B by the end of 2025.
The discrepancy is attributed to several different factors, including developments in technology and major adopters of the platform, namely Microsoft and Apple. Whichever forecast prevails, there is no denying WebRTC is going to be one of the most efficient and flexible real-time communication solutions in the marketplace. All it takes for anyone to start a conversation using text, audio, and video as well as screen sharing and file transfer is a browser enabled with the application, which is now available on four of the biggest browsers in the world.
The open source platform also makes WebRTC easy to integrate by developers and organizations as part of their existing communications solutions. And as unified communications, collaboration and conferencing continue to increase in adoption by the workforce, demand will increase.
Transparency Market Research said, “Browser, mobile, and unified communication are the main platforms on which WebRTC solutions can be run. With the significantly high user base of mobile phones, the mobile platform has been leading this market and is anticipated to continue like this over the next few years.”
The firms also says demand for video WebRTC solutions is higher than other types of offerings in the market place, which was responsible for leading the global market with an impressive share of more than 57 percent in 2016. And it is expecting this trend to continue to grow in the coming years as telecom and IT based end-use applications integrate or deploy WebRTC based solutions.
Edited by
Alicia Young
