WebRTC Market to Reach Close to $3 billion by 2020 - Technavio

WebRTC Market to Reach Close to $3 billion by 2020 - Technavio Image Credit: Technavio

The global WebRTC market is set to reach close to USD 3 billion by 2020, growing at a CAGR of over 36%, according to Technavio. The Americas held the largest market share with nearly 47% in 2015 , followed by EMEA, says Technavio.

According to Technavio, the growing number of social network users and their need for real-time communication is leading to the high adoption of WebRTC in the Americas. As in EMEA, the growing demand for cost-effective and user-friendly browser-based communication solutions has encouraged key players to introduce vertical-specific solutions and services in this region. 

Technavio highlights the growing popularity of WebRTC mobile apps. Many vendors are switching to WebRTC mobile apps because developing such apps is easier than employing web-based technology, said the market research firm. For instance, Google is improving its WebRTC codebase for Android and iOS. Similarly, Ericsson plans to launch its own open WebRTC project targeting mobile users. 

Amit Sharma, a lead research analyst from Technavio
We also expect enterprises to adopt WebRTC technologies for use in contact centers and in unified communications applications in the coming years.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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