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June 21, 2017

SMB Demand for WebRTC Solutions Drives Growth

Many different factors determine the growth of a new technology. And while Web RTC is not relatively new, it still has a ways to go before it becomes part of the standard rotation of available communications solutions organizations and consumers look for. However, this hasn't stopped the technology from seeing higher numbers of adoption as people become aware of its capabilities and the flexibility it provides. The latest WebRTC report from Research and Markets proves this very point, as it has forecasted a Compound Annual Growth Rate (CAGR) of 44.2 percent from 2017-2022 to $6.49 billion.

The report, titled, “Web Real-Time Communication Market by Product Type (Solution, Service), by Vertical and by Region - Global Forecast to 2022,” stated the biggest drivers for the growth will be webification of communication, increasing demand for WebRTC solutions from SMBs, and demand for secure and robust communication.

The webification of communication has been developing for some time, but a coming together of technologies, including wireless broadband, smartphones and the integration of WebRTC by Apple and Microsoft's browsers (the two major browser holdouts), will make it available to a much larger audience. WebRTC also comes at a time when the workforce is using collaborative tools to communicate remotely using video, audio and data, options the platform provides with just a browser.

According to Research and Markets, the report was compiled by product type, vertical, and region to determine the global growth of the WebRTC market. The company concluded the highest CAGR during the forecast period is going to be achieved by video calling and conference solutions, service and healthcare industries as they implement WebRTC for the efficient operation and maintenance of their organizations.

Just like video conferencing and the service industry, healthcare is undergoing a transformation to deliver patient care remotely. And WebRTC is poised to become the preferred platform for making this possible because it doesn't require any plug-ins, special hardware or additional software.

Regarding the healthcare industry, Research and Markets said, “The segment is expected to grow at the highest CAGR during the forecast period. The landscape of the industry has changed over the past few years, majorly driven by changes in consumer/patient demands and digitalization. This brings in the need for channelized data insights, improved communication, improved data quality, and accurate clinical information consolidated through the deployment of WebRTC solutions.”

Some of the companies featured in the report include: Apidaze, Avaya, Dialogic Corporation, Google, Oracle Corporation and Polycom. These companies, as well as many others, are developing WebRTC -based communication solutions with customized features to use the technology more efficiently. This makes it easier for individual consumers and SMBs to use the technology as an affordable alternative to more costly communication solutions.

Edited by Alicia Young
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