A version of this article originally appeared on the blog publication “In Context,” by Nexmo, The Vonage API Platform. The OpenTok Live Video API is now part of Nexmo.
In 2017, IDC released estimates that the value of the North American Video platform market will reach $7B by 2022. That would be a 140% compound annual growth rate from what today is still a fairly early stage market. Positioning Nexmo, the Vonage API Platform, to compete and win as a leading CPaaS offering in such a fast-growing market was the biggest factor in the decision to purchase TokBox.
We listed three factors that are enabling this growth:
- Powerful endpoints everywhere – smartphones, tablets and PCs – with high-quality camera and audio capabilities built in
- The emergence of WebRTC as the video standard that makes it easy for millions of developers around the world to integrate video into their apps
- Ready access to high quality, high speed broadband through wifi in our homes, workplaces, and public spaces, with 4G or LTE pretty much everywhere else.