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Web Real-Time Communication Market By Component(Solution(Voice Calling & Conferencing,Video Calling & Conferencing,Message & File Sharing, Social Networking and Gaming), Services), Industry Vertical (BFSI,Retail, IT & Telecom, Public Sector, Media & Entertainment, Manufacturing, Healthcare, Others) : Global Opportunity Analysis and Industry Forecast, 2017-2023

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IC_172305
Pages: 140
Jun 2017 | 2127 Views
 
Author's : Kalyani Sonawane
Tables: 36
Charts: 59
 

Web Real-Time Communication Market Overview:

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. WebRTC or Web Real-Time Communication is an assortment of application programming interface (API) and communication protocols that allows real-time peer-to-peer connection through web browser without any need of additional plugins such as Flash or JavaScript. This technology enables easy and cost-effective communication in terms of voice, video, and other data. This technology is in its growth stage, hence, requires extra efforts to create awareness among the various end users. The technology enables video chat, video conferencing, audio call, audio conferencing, text chats, file sharing, gaming, and social networking. WebRTC offers real-time communication at low costs with high performance.

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

Global Web Real-Time Communication Market Segmentation

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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.

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

Top Impacting Factors: WebRTC Market

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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:

By Component

  • Solution
    • Voice Calling & Conferencing
    • Video Calling & Conferencing
    • Message & File Sharing
    • Others (Social Networking and Gaming)
  • Services

By Industry Vertical

  • BFSI
  • Retail
  • IT & Telecom
  • Public Sector
  • Media & Entertainment
  • Manufacturing
  • Healthcare
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

The Key Players Profiled in the Report are as follows:

  • Avaya Inc.
  • Cisco Systems, Inc.
  • Polycom
  • Oracle Corporation
  • Tokbox Inc.
  • AT&T Inc.
  • Genband
  • Plivo
  • Twilio
  • Quobis
  • Apidaze
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
1.4.4. Market segmentation

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets

3.3. PORTER’S FIVE FORCES

3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Degree of competition
3.3.4. Threat of new entrants
3.3.5. Threat of substitute

3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Cost-effective benefits of WebRTC technology
3.5.1.2. Advancements in communication through web technology
3.5.1.3. Increase in the adoption of WebRTC among enterprises

3.5.2. Restraints

3.5.2.1. Lack of universal standards
3.5.2.2. Increase in security and privacy concerns
3.5.2.3. Need to replace existing VoIP/video conferencing infrastructure

3.5.3. Opportunities

3.5.3.1. Rise in awareness of the technology among enterprises
3.5.3.2. Rapid proliferation of BYOD
3.5.3.3. Growth prospects in untapped markets

3.5.4. Top impacting factors

Chapter: 4 WEB REAL TIME COMMUNICATION MARKET, BY COMPONENT

4.1. OVERVIEW
4.2. SOLUTION

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.2.4. Voice calling & conferencing

4.2.4.1. Market size and forecast

4.2.5. Video calling & conferencing

4.2.5.1. Market size and forecast

4.2.6. Message & file sharing

4.2.6.1. Market size and forecast

4.2.7. Others (social networking and gaming)

4.2.7.1. Market size and forecast

4.3. SERVICES

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

Chapter: 5 WEB REAL TIME COMMUNICATION MARKET, BY INDUSTRY VERTICAL

5.1. OVERVIEW
5.2. BFSI

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. RETAIL

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. IT &TELECOM

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.5. PUBLIC SECTOR

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.6. MEDIA & ENTERTAINMENT

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast

5.7. MANUFACTURING

5.7.1. Key market trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast

5.8. HEALTHCARE

5.8.1. Key market trends
5.8.2. Key growth factors and opportunities
5.8.3. Market size and forecast

5.9. OTHERS

5.9.1. Key market trends
5.9.2. Key growth factors and opportunities
5.9.3. Market size and forecast

Chapter: 6 WEB REAL TIME COMMUNICATION MARKET, BY REGION

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast, by component
6.2.4. Market size and forecast, by industry vertical
6.2.5. Market size and forecast, by country
6.2.6. U.S.

6.2.6.1. Market size and forecast

6.2.7. Canada

6.2.7.1. Market size and forecast

6.2.8. Mexico

6.2.8.1. Market size and forecast

6.3. EUROPE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast, by component
6.3.4. Market size and forecast, by industry vertical
6.3.5. Market size and forecast, by country
6.3.6. UK

6.3.6.1. Market size and forecast

6.3.7. Germany

6.3.7.1. Market size and forecast

6.3.8. France

6.3.8.1. Market size and forecast

6.3.9. Russia

6.3.9.1. Market size and forecast

6.3.10. Rest of Europe

6.3.10.1. Market size and forecast

6.4. ASIA-PACIFIC

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast, by component
6.4.4. Market size and forecast, by industry vertical
6.4.5. Market size and forecast, by country
6.4.6. Australia

6.4.6.1. Market size and forecast

6.4.7. China

6.4.7.1. Market size and forecast

6.4.8. Japan

6.4.8.1. Market size and forecast

6.4.9. India

6.4.9.1. Market size and forecast

6.4.10. Rest of Asia-Pacific

6.4.10.1. Market size and forecast

6.5. LAMEA

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast, by component
6.5.4. Market size and forecast, by industry vertical
6.5.5. Market size and forecast, by country
6.5.6. Latin America

6.5.6.1. Market size and forecast

6.5.7. Middle East

6.5.7.1. Market size and forecast

6.5.8. Africa

6.5.8.1. Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1. AVAYA INC.

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Business performance
7.1.4. Key strategic moves & developments

7.2. AT&T INC.

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Business performance
7.2.4. Key strategic moves & developments

7.3. CISCO SYSTEMS, INC.

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Business performance
7.3.4. Key strategic moves & developments

7.4. GENBAND

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Business performance
7.4.4. Key strategic moves & developments

7.5. ORACLE CORPORATION

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Business performance
7.5.4. Key strategic moves & developments

7.6. POLYCOM

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Business performance
7.6.4. Key strategic moves & developments

7.7. PLIVO

7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Business performance
7.7.4. Key strategic moves & developments

7.8. QUOBIS

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Business performance
7.8.4. Key strategic moves & developments

7.9. TOKBOX INC

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Business performance
7.9.4. Key strategic moves & developments

7.10. TWILIO

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Business performance
7.10.4. Key strategic moves & developments

LIST OF TABLES

TABLE 1. GLOBAL WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 2. GLOBAL WEB REAL TIME COMMUNICATION SOLUTION MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 3. GLOBAL WEB REAL TIME COMMUNICATION SOLUTION MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 4. GLOBAL WEB REAL TIME COMMUNICATION SERVICES MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 5. WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 6. WEB REAL TIME COMMUNICATION MARKET FOR BFSI BY REGION, 2016-2023 ($MILLION)
TABLE 7. WEB REAL TIME COMMUNICATION MARKET FOR RETAIL BY REGION, 2016-2023 ($MILLION)
TABLE 8. WEB REAL TIME COMMUNICATION MARKET FOR IT & TELECOMBY REGION, 2016-2023 ($MILLION)
TABLE 9. WEB REAL TIME COMMUNICATION MARKET FOR PUBLIC SECTOR BY REGION, 2016-2023 ($MILLION)
TABLE 10. WEB REAL TIME COMMUNICATION MARKET FOR MEDIA & ENTERTAINMENT BY REGION, 2016-2023 ($MILLION)
TABLE 11. WEB REAL TIME COMMUNICATION MARKET FOR MANUFACTURING BY REGION, 2016-2023 ($MILLION)
TABLE 12. WEB REAL TIME COMMUNICATION MARKET FOR HEALTHCARE BY REGION, 2016-2023 ($MILLION)
TABLE 13. WEB REAL TIME COMMUNICATION MARKET FOR OTHERS BY REGION, 2016-2023 ($MILLION)
TABLE 14. WEB REAL TIME COMMUNICATION MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 15. NORTH AMERICA WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 16. NORTH AMERICA WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 17. NORTH AMERICA WEB REAL TIME COMMUNICATION MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. EUROPE WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 19. EUROPE WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 20. EUROPE WEB REAL TIME COMMUNICATION MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 21. ASIA-PACIFIC WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 22. ASIA-PACIFIC WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 23. ASIA-PACIFIC WEB REAL TIME COMMUNICATION MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 24. LAMEA WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 25. LAMEA WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 26. LAMEA WEB REAL TIME COMMUNICATION MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 27. COMPANY SNAPSHOT: AVAYA INC.
TABLE 28. COMPANY SNAPSHOT: AT&T INC.
TABLE 29. COMPANY SNAPSHOT: CISCO SYSTEMS, INC.
TABLE 30. COMPANY SNAPSHOT: GENBAND
TABLE 31. COMPANY SNAPSHOT: ORACLE CORPORATION
TABLE 32. COMPANY SNAPSHOT: POLYCOM
TABLE 33. COMPANY SNAPSHOT: PLIVO
TABLE 34. COMPANY SNAPSHOT: QUOBIS
TABLE 35. COMPANY SNAPSHOT: TOKBOX INC
TABLE 36. COMPANY SNAPSHOT: TWILIO

LIST OF FIGURES

FIGURE 1. MARKET SEGMENTATION: WEB REAL TIME COMMUNICATION MARKET
FIGURE 2. TOP WINNING STRATEGIES, 2013-2016 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2013-2016
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. PORTER’S FIVE FORCES ANALYSIS
FIGURE 6. MODERATE BARGAINING POWER OF BUYERS
FIGURE 7. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 8. HIGH DEGREE OF COMPETITION
FIGURE 9. HIGH THREAT OF NEW ENTRANTS
FIGURE 10. MODERATE THREAT OF SUBSTITUTES
FIGURE 11. MARKET SHARE ANALYSIS, 2015 (%)
FIGURE 12. DRIVERS
FIGURE 13. RESTRAINTS
FIGURE 14. OPPORTUNITIES
FIGURE 15. GLOBAL WEB REAL TIME COMMUNICATION SOLUTION MARKET, 2016-2023 ($MILLION)
FIGURE 16. GLOBAL WEB REAL TIME COMMUNICATION MARKET VOICE CALLING & CONFERENCING, 2016-2023 ($MILLION)
FIGURE 17. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR VIDEO CALLING & CONFERENCING, 2016-2023 ($MILLION)
FIGURE 18. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR MESSAGE & FILE SHARING, 2016-2023 ($MILLION)
FIGURE 19. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR OTHERS, 2016-2023 ($MILLION)
FIGURE 20. GLOBAL WEB REAL TIME COMMUNICATION SERVICES MARKET, 2016-2023 ($MILLION)
FIGURE 21. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR BFSI, 2016-2023 ($MILLION)
FIGURE 22. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR RETAIL, 2016-2023 ($MILLION)
FIGURE 23. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR IT & TELECOM, 2016-2023 ($MILLION)
FIGURE 24. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR PUBLIC SECTOR, 2016-2023 ($MILLION)
FIGURE 25. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR MEDIA & ENTERTAINMENT, 2016-2023 ($MILLION)
FIGURE 26. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR MANUFACTURING, 2016-2023 ($MILLION)
FIGURE 27. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR HEALTHCARE, 2016-2023 ($MILLION)
FIGURE 28. GLOBAL WEB REAL TIME COMMUNICATION MARKET FOR OTHERS, 2016-2023 ($MILLION)
FIGURE 29. GLOBAL WEB REAL TIME COMMUNICATION MARKET BY GEOGRAPHY, MARKET SHARE (2016) AND CAGR (2017-2023, %)
FIGURE 30. NORTH AMERICA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 31. U.S. WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 32. CANADA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 33. MEXICO WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 34. EUROPE WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 35. UK WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 36. GERMANY WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 37. FRANCE WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 38. RUSSIA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 39. REST OF EUROPE WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 40. ASIA-PACIFIC WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 41. AUSTRALIA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 42. CHINA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 43. JAPAN WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 44. INDIA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 45. REST OF ASIA-PACIFIC WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 46. LAMEA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 47. LATIN AMERICA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 48. MIDDLE EAST WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 49. AFRICA WEB REAL TIME COMMUNICATION MARKET, 2016-2023 ($MILLION)
FIGURE 50. AVAYA INC.: FINANCIAL PERFORMANCE
FIGURE 51. AT&T INC.: FINANCIAL PERFORMANCE
FIGURE 52. CISCO SYSTEMS, INC.: FINANCIAL PERFORMANCE
FIGURE 53. GENBAND: FINANCIAL PERFORMANCE
FIGURE 54. ORACLE CORPORATION: FINANCIAL PERFORMANCE
FIGURE 55. POLYCOM: FINANCIAL PERFORMANCE
FIGURE 56. PLIVO: FINANCIAL PERFORMANCE
FIGURE 57. QUOBIS: FINANCIAL PERFORMANCE
FIGURE 58. TOKBOX INC: FINANCIAL PERFORMANCE
FIGURE 59. TWILIO: FINANCIAL PERFORMANCE

 

Web real-time communication or WebRTC is a novel technology used for real-time human voice, video, and data communications. This technology offers video chat, video calling, audio calling, peer-to-peer file sharing, and text chats entirely in the web browser without the need of any additional plugins or downloads. In WebRTC, the user requires a compatible web browser, as WebRTC does not require supplementary frameworks, applications, or plugins, such as Flash, JavaScript API, Silverlight, or others.

The global WebRTC market is expected to reach $10,367 million by 2023, owing to cost-effective benefits of the WebRTC technology, advancements in communication through web, and increase in adoption on WebRTC technology among enterprises, owing to its easy access on mobile devices & desktops and high performance resulting in low cost. The WebRTC market size is expected to witness significant growth attributed to high internet penetration; significant population growth; especially in the underdeveloped and the developing countries of Asia-Pacific, Africa, South America, and others; considerable increase in ICT expenditure; growth in adoption of cloud platform, and increase in number of young population active on social media platforms.

The WebRTC market is categorized into two segments based on the component, which include solution and services. The solution segment was the highest contributor to the market, in terms of revenue, while the services segment is anticipated to witness the highest growth rate during the forecast period as services are used to create more awareness about the technology and helps vendors to increase their market presence.

WebRTC is being accepted among various end-user industries, such as banking, financial services, and insurance; manufacturing; healthcare; IT & telecommunication; government; retail; media & entertainment; and others. The real-time communication services, such as consulting, customer care services, telemedicine, and others, are expected to drive the growth of the technology in respective fields. Healthcare and retail industries are expected to witness considerable growth, while telecom sector dominated the global WebRTC market during the analysis period.

Key market players in the global WebRTC market have adopted various strategies, such as product launches, partnership, promotional activities, and strategic alliances, to create more awareness about the technology and increase their adoption across various verticals.

 

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