Web Real-Time Communication Market Overview:
The WebRTC market is analyzed based on solutions and services offered by the market players from various industry verticals. Advancements in communication technology through web, increase in ICT expenditure, exponential growth in population, high-speed connectivity, and large youth population active on smartphones drive the market growth. Furthermore, cost-effective benefits of the WebRTC technology, rapid proliferation of Bring Your Own Device (BYOD) in enterprises, and growth potential in untapped markets such as Africa & Asia are expected to offer significant growth opportunities for WebRTC market. However, lack of substantial universal standards, rise in security & privacy concerns, and already established markets for Voice Over IP (VoIP) and traditional telecommunication services are expected to negatively impact the growth of WebRTC market.
Global Web Real-Time Communication Market Segmentation
The global WebRTC market is segmented based on component, industry vertical, and geography. Based on component, it is bifurcated into solution and services. Solution segment is further analyzed across four sub-segments including voice calling & conferencing, video calling and conferencing, messages & file sharing, and others (social networking and gaming). Based on industry vertical, the WebRTC market is divided into banking, financial services, and insurance (BFSI), retail, IT & telecom, public sector, media & entertainment, manufacturing, healthcare, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global WebRTC market size was valued at $812 million in 2016, and is expected to reach $10,367 million by 2023, growing at a CAGR of 42.8% from 2017 to 2023. The global WebRTC market is in its growth phase and is expected to continue this trend during the forecast period, owing to cost-effective benefits of the WebRTC technology, such as easy deployment, no requirement of additional plugins, advancements in communication through web, increase in adoption of WebRTC among small & medium businesses (SMBs).
North America WebRTC market generated maximum revenue in 2016, owing to its adequate infrastructure development, presence of large number of technology firms, and high rate of adoption of the WebRTC technology. The Asia-Pacific WebRTC market is expected to grow at the highest CAGR, owing to exponential growth in population; rise in penetration of smartphones, laptops, and tablets; improvement of high-speed connectivity, and significant increase in ICT expenditure.
The key players operating in the global WebRTC industry include Avaya Inc., Cisco Systems, Inc., Polycom, Oracle Corporation, Tokbox Inc., AT&T Inc., Genband, Plivo, Twilio, Quobis, and Apidaze. These players have expanded their market presence by adopting various business strategies such as acquisition, geographical expansion, product development, strategic alliances, and collaborations
Top Impacting Factors: WebRTC Market
Cost-Effective Benefits of WebRtc Technology
WebRTC allows any web server to deliver an exclusive real-time communication experience with high reliability and simplicity at lower-costs. It enables browser-based applications to be similar as real-time user experiences. It also offers secure communication through web at lowers-costs and with high benefits such as easy deployment across various operating systems and others.
Advancements in Communication Through Web Technology
WebRTC enables web developers to build applications that incorporate audio, video, chat, and data collaboration, without any need of voice-over-IP or telecommunications. WebRTC is an advancement in communication technology, which offers high reliability and security while in use.
Increase in Security and Privacy Concerns
WebRTC audio & video sessions offer encryption capabilities at the initial state; however, it is mandatory for the user that utilize video conferencing to check the encryption support. Rise in security & privacy concerns negatively impacted the WebRTC, in terms of encryption support and high security.
Rapid Proliferation of BYOD
Workplace and enterprises are expected to increasingly use advanced communication technology such as WebRTC and HTML5 owing to increase in the usage of BYOD. Enterprises are anticipated to offer their employees the ability to work through their own devices, which implies provision of HTML5 services that can operate through web browsers, such as Mozilla Firefox and Google Chrome, or allow work-related applications to connect to the enterprise data.
Key Benefits for Stakeholders
- In-depth analysis of the global WebRTC market and its dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2016 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porters Five Forces analysis examines the competitive structure of the global WebRTC industry and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players.
- Detailed analyses of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
- Profile analyses of leading players that operate in the global WebRTC industry are provided, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.
Web Real-Time Communication Market Key Segments:
- Voice Calling & Conferencing
- Video Calling & Conferencing
- Message & File Sharing
- Others (Social Networking and Gaming)
By Industry Vertical
- IT & Telecom
- Public Sector
- Media & Entertainment
- North America
The Key Players Profiled in the Report are as follows:
- Avaya Inc.
- Cisco Systems, Inc.
- Oracle Corporation
- Tokbox Inc.
- AT&T Inc.