Global WebRTC market to grow at 38.3% CAGR till 2023

The global WebRTC market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 38.3%. The factors driving the global WebRTC market are, increasing need of IT infrastructure in the emerging economies and ease of integration with the browsers. Managing security and privacy is one of the most important factors that is creating a bottleneck for the growth of WebRTC market.

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Presently, in order to deliver quality of service (QoS), real-time Internet applications have been taken into consideration. For real-time communication, network designers are more concerned about time-based properties such as delays, jitter, synchronization, and bandwidth. In order to attain efficiency, every industry is focusing on hosting real-time communication technology. This technology provides numerous advantages such as security, network reliability, and efficiency.

On the basis of solution, the global WebRTC market is categorized into gaming, messaging and file sharing, social networking, and video and voice calling conference. The messaging and file sharing sub segment accounts for the highest share in this category owing to the increasing use of WebRTC technology in workplaces.

On the basis of service type, the market is segmented as - implementation and integration service, consulting service, and other services. The highest growth is observed in the implementation and integration services due to the adoption of integration technologies in most of the business processes.

By device type, smartphones account for the largest share in the market due to the rise in smartphone penetration and the preference for mobile platform by end-users.

In terms of the end-user industry, the IT & Telecom segment is holding a dominating share in the WebRTC market, owing to the industry’s need for a change in the business model which can be achieved by adopting real time communication systems.

Geographically, North America is holding the largest share in the market. This region has the highest numbers of internet users and advanced internet infrastructure that are propelling the growth of the WebRTC market in this region. The Asia-Pacific region is growing at the highest CAGR due to the increasing number of internet users and rising investments in the IT & Telecom infrastructure.

The key players of the WebRTC market are, AT&T Inc. (USA), Apidaze (France), Cisco Systems Inc (USA), Ericsson(Sweden), Genband (USA), Google Inc (USA), Huawei Technologies Co. Ltd.( China), IBM Corporation (USA), Oracle Corporation (USA), and Plivo Inc. (USA), amongst others.

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