LONDON, Aug. 25, 2015 /PRNewswire/ -- Demand for In-app communications and Cloud RTC platforms is growing at an accelerated pace as projects move out of beta into full production and vendors are aggressively positioning themselves for the future. This market is expected to reach over $4.3 billion USD by 2019 equating to a CAGR of 57% over the forecast period. Developer awareness and the opportunity for more contextual communications are two key factors driving the demand for Cloud RTC platforms, or platforms that enable developers to easily integrate communications into their apps. These platforms provide SDKs and APIs to mobile and web developers that abstract away the complexity of telecommunications technology, simplifying access to messaging, voice, and video services.
As the market grows, so does the competition and a land grab mentality is emerging with infrastructure players, start-ups and call center software vendors quickly entering the market. We believe competitors will either differentiate on reach and quality of service or richness of the client experience. Competition and demand is also driving platform vendors to quickly build out their offerings to provide a variety of services and features that enable developers with varying skill levels and requirements to benefit from Cloud RTC platforms.
While competition is quickly gathering and first movers are establishing strong positions, we believe much opportunity exists across a number of vertical applications and horizontal services. This fact will create a robust ecosystem. Opportunities in social networking, customer services and collaboration apps are generating the most demand in today's market. Social networking apps are integrating multiple forms of real-time communications and brands are integrating click-to-call features into their apps and websites. Also, Cloud RTC vendors are bringing to market more collaboration features such as file sharing and co-browsing. The ability for Cloud RTC platforms to easily enable app developers to integrate two factor authentication into their apps and streamline the process of on-boarding new accounts is also driving significant demand in the short term. Going forward we see increased opportunity for HD voice and video, video conferencing and analytics.
Developers in verticals such as travel and real-estate/ facility maintenance are currently implementing communications into their apps. In the future we see significant growth in the education and healthcare segments.
While growth is robust, barriers do exist. The WebRTC standard is still evolving and the industry needs greater consensus around signaling. More innovators are also required.
Many developers are having trouble envisioning how to leverage communications in new ways within their apps. In some cases the technology may be ahead of the imaginations of app creators who are challenged to think beyond the traditional simple phone call.
The opportunity for in-app communications is broad and diverse. With so many innovative use cases, we do not see single killer app emerging to drive rapid awareness and cultural shifts. Incremental innovation will provide steady but rapid adoption of Cloud RTC platforms.
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