NEW YORK, Oct. 27, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "WebRTC Market by Solution (Gaming, Messaging & File Sharing, Social Networking, Video Calling & Conference, and Voice Calling & Conference), by Service (Consulting Services, Implementation & Integration Services, and Others), and by End-Use Industry (Retail, BFSI, IT & Telecom, Healthcare, Government Sector, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global WebRTC market accounted for USD 1,669 million in 2018 and is expected to reach USD 21,023 million globally by 2025, at a CAGR of 43.6% between 2019 and 2025.
WebRTC (Real-Time Communication) enables real-time video, voice, and data sharing with the help of a web browser. WebRTC eliminates the need for browser plugins. The architecture for WebRTC includes browser clients and web servers. This technology enables point-to-point and multi-point browser communication.
The rising use of online platforms for shopping has led to the demand for solutions that offer real-time information to retailers and customers. The WebRTC market is likely to witness significant growth in the future, owing to the increasing demand for real-time information collection. Retail websites that are powered with WebRTC help retailers to assist online customers with quicker reviews and improved guidance to purchase products from any location. However, the rising incidences of cyber-attacks pose a threat to the WebRTC market growth. Alternatively, the increasing adoption of "Internet of Things" (IoT) is projected to open new growth avenues for the WebRTC market over the estimated time period.
The WebRTC market is segmented on the basis of the solution, service, and end-use industry. By solution, the global WebRTC market includes gaming, messaging and file sharing, social networking, video calling and conference, and voice calling and conference. Consulting services, implementation and integration services, and others form the service segment of the global WebRTC market. Consulting services are expected to grow significantly over the estimated timeframe. The end-use industry segment includes retail, BFSI, IT and telecom, healthcare, government sector, media and entertainment, and others. The IT and telecom segment is anticipated to hold a noteworthy share of the WebRTC market over the estimated time period, owing to the rising demand for video calling and conference solutions among numerous IT organizations. Many IT and telecom companies are focusing on increasing their operations across the emerging Asian economies, such as India and China.
By region, North America is expected to hold a substantial share of the global WebRTC market over the forecast timeframe. The U.S. is a major contributor to the North American market, owing to the increasing adoption of WebRTC by the IT and telecom industry. Furthermore, the presence of various market players, such as Cisco Systems, Inc., Oracle Corporation, and AT&T, Inc.in the region is expected to further drive the WebRTC market in North America in the upcoming years. Europe is anticipated to witness a momentous rise in the demand for WebRTC solutions over the estimated timeframe, due to the increasing WebRTC solutions demand by the BFSI sector. Numerous banks in the UK and Germany have increased their communication technology expenditure in the past few years, which, in turn, is also projected to drive European WebRTC market in the years ahead.
Some key participants of the global WebRTC market are Apidaze, Oracle Corporation, AT&T, Inc., Avaya, Inc., Cafex Communications, Inc., Cisco Systems, Inc., Dialogic Corporation, GENBAND Inc., Polycom, Inc., and Quobis, among others.
This report segments the global WebRTC market into:
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