WebRTC’s Future – Market Size, Segments and Opportunities

The global WebRTC market was valued at $2.41 billion in 2020. It is expected to reach USD 38.16 billion by 2027 at a CAGR of 41.2%.

The Real-Time Communication website is an open-source platform. WebRTC enables P2P audio, video and data communication between browsers without a plug-in. WebRTC is ideal with HTML, TCP/IP and HTTP conventions. It uses different codes for smooth exchange of video, voice and messages. Currently, all major browsers including Mozilla Firefox, Google Chrome, Opera and Microsoft IE support WebRTC.

It is in demand in many industries due to the rise of its use in end parts. The versatile application has also seen an increase in the number of WebRTC clients. E-commerce, telecommunication, IT, web commerce, etc. are making great use of this technology. It is an open-source API and is effectively accessible to application engineers. WebRTC is independent of the steps and devices on which it is coordinated. This attracts customers from all over the world.

WebRTC reduces the time required and makes the process easy even for a non-technical user, as it does not require any plugins, frameworks, or applications. Session Description Protocol (SDP) works to establish a connection for the transfer of browser data. WebRTC uses the JavaScript Application Programming Interface (API) and HTML5 for integrated communication across browsers.

The Global WebRTC market is segmented on a different basis

By component:

  • Solution
  • Services

By Verticals:

  • Data sharing
  • Video
  • Voice

By Industry Verticals:

  • BFSI
  • Ecommerce
  • Education
  • Health care
  • IT
  • Media and entertainment
  • Telecom
  • Others (energy and transport)

The major factor driving the growth of the WebRTC market worldwide is the increasing number of internet users. According to Our World Data, global Internet users have increased from just 413 million in 2000 to more than 3.4 billion in 2016. In 2022, there will be 6 billion Internet users (approximately 75 percent of the world’s population) and more than 7.5 billion Internet users by 2030, Cybersecurity Ventures predicts.

The growth of the global WebRTC market is supported by technological advancements in the communication vertical. Increasing adoption of voice and video calling and conferencing in this application is expected to further fuel the market growth. For example, popular apps like Snapchat use WebRTC to control video called highlighting.

WEBRTC TOP GLOBAL BRAND LIST

Citrix Systems, Google, Facebook, TokBox, Sinch AB, Twilio, WIRE SWISS GmbH, Talko, Screenhero, Comcast Corporation.

The integration of AI with WebRTC, the spread of BYOD trends and the use of WebRTC for IoT are factors that will offer more opportunities for further market growth.

Despite the growing market and free economy in the industry, the quality of communication services cannot be guaranteed. In addition, the growth of the WebRTC market is hindered by the rise of security and privacy concerns. The quality of WebRTC applications cannot be compromised.

Due to the amount of work coming to WebRTC developers, quality may suffer. Companies looking for WebRTC development need a reliable partner to help them develop their application flawlessly.

Moon Technolabs has been involved in WebRTC solutions for a long time. Understanding how critical these applications are to clients, we make sure we deliver the best we can. We have built WebRTC-powered applications for all segments, be it component or vertical.

We can help you become part of this growing market and make the most of technology. Contact us for an App development company.

Three Factors Influencing WebRTC Success

If you’re not familiar with WebRTC, it enables native real-time media communications such as voice, video, and data between browsers and devices. This allows users to interact instantly in a web browser or application without the need for complex plug-ins or additional software. Its versatility across browsers and platforms will make it essential to business success in 2022. Here’s why.

1. Remote work is here to stay

With the number of permanent remote jobs available reaching 25% of all professional jobs this year and hybrid work becoming even more popular, workforce experts say a full return to the office is unlikely. Now that remote collaboration is firmly embedded in our work, every company wants better connectivity, networking and communication through video conferencing.

The problem is that there is no clear winner as to which video conferencing app is the best. More than 1 in 4 video conferencing users say their video chat tool doesn’t meet their needs. After years of using Zoom, Google Meet, Teams, and other meeting apps, we’ve all gotten used to the status quo of video conferencing — but that doesn’t mean we like it. The first company to really crack the code for great remote collaboration will become famous. Instead, we still get minor tweaks like virtual backgrounds and selective muting.

The flexible potential of WebRTC will enable a better way, and many innovative companies are already pushing what is possible with remote interaction. For example, No Small Magic’s Showboat can create a shared 3D space for virtual town halls. Co-workers can walk around the virtual environment, find a friend’s avatar and talk only to them before the town hall begins. It’s not a perfect replacement for face-to-face connection, but it’s a major step in the right direction – making our virtual interactions more natural.

2. User experience is the key to success

WebRTC allows developers to integrate live video chat into all kinds of applications and web browsers. We’re all tired of having four different chat apps for different calendar appointments, whether for work or fun. No one wants to download a whole new app just to talk to someone. This means that a doctor answering a patient’s question in MyChart does not need to send a link to the Zoom appointment. Instead, they could open a video chat inside an existing app. We’re working with a public safety client to add live video to 911 calls by having their dispatchers send a link to the video via text, improving emergency information gathering and empathically connecting with people in crisis.

By integrating live video chat into your existing application, you can streamline and enrich your user experience. This way, your customers are engaged in your curated experience without having to switch context to a dedicated video application. This network innovation simplifies things by enabling instant connection without the need for downloads or modifications.

3. Video is the future

In addition to video conferencing applications, real-time communication plays a key role in building the meta version. Its open-source and cross-platform versatility makes it ideal for the kind of bottom-up creativity that will define the meta. Additionally, its inherent security and ability to adapt to changing network conditions have made it a popular choice among AR and VR developers. In short, with the growing popularity of meta versions, there is a bright future ahead.

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WebRTC developers are just beginning to scratch the surface of what’s possible with interactive video. This goes beyond interactive whiteboards and meeting collaboration tools. In 2022, there are organizations using this networking tool to verify identities for remote banking and create detailed VR workspaces. Other organizations measure volume spikes and facial data to analyze how people react emotionally to a video conference.

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