Web Real-Time Communication Market Worth 4.45 Billion USD by 2020
PUNE, India, March 23, 2016 /PRNewswire/ --
According to a new market research report, "Web Real-Time Communication Market by Product Type, by Vertical (IT & Telecom, Media & Entertainment, BFSI, Retail and Consumer Goods, Public Sector & Education, Healthcare, Transportation & Logistics, Others), and by Region - Global Forecast to 2020", published by MarketsandMarkets, the WebRTC market is expected to reach USD 4.45 Billion by 2020, at a CAGR of 50.9% from 2015 to 2020.
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Browse 84 Tables and 50 Figures spread through 146 Pages and in-depth TOC on "Web Real-Time Communication Market"
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The WebRTC market is considered as the 'Blue Ocean', which refers to an uncontested marketspace that holds tremendous potential and opportunities for WebRTC vendors and solution providers. WebRTC provides a simple way for SMBs to shift from traditional communication solutions to modern user-centric business communication. It helps them attract new customers and businesses through data centers and 'click-to-call' services. WebRTC offers secure & robust communication and also plays an indispensable role in webification of communication by providing tools and applications that offer direct communication with browsers.
Key players in the Web Real-Time Communication Market include Avaya Inc., Cisco Systems, Inc., Polycom, Oracle Corporation, TokBox Inc., AT&T Inc., Genband, Plivo, Twilio, and Quobis.
The solution segment dominates the global WebRTC market, and this trend is expected to continue during the forecast period
WebRTC solutions offer reliable and secure communication to end users, and also help organizations utilize the benefits associated with the adoption of such affordable communication solutions. The solution segment of the WebRTC market is classified into video calling & conferencing, voice calling & conferencing, messaging & file sharing, and other solutions. The voice calling & conferencing solution dominates the global WebRTC solution market. This growth is mainly attributed to the paradigm shift from high-cost encoring voice communication services to cost-effective internet telephony. On the other hand, the video calling & conferencing solution segment is projected to grow at the highest CAGR during 2015 to 2020, owing to the increasing demand for enterprise video calling and conferencing services.
The IT & telecom sector led the global WebRTC market during the forecast period
The IT & telecom sector is expected to dominate the Web Real-Time Communication Market during the forecast period. This sector is considered as the forefront adopter of WebRTC. The IT & telecom players across Asia-Pacific, Latin America, and Middle East & Africa regions are considering WebRTC as a tool to offer app revolution in the industry and open new revenue streams.
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North America has emerged as the leading region in terms of deployment and implementation of web real-time communication solutions and services
The North American region has been an extremely amenable market that has contributed towards the adoption of WebRTC solutions. This region accounted for the largest share of the global WebRTC market, and is expected to grow at the second-highest CAGR from 2015 to 2020. This growth is mainly attributed to the technological advancements in the field of WebRTC and increasing R&D investments made by top players in this region. Europe accounted for the second-highest share in the overall market, whereas, the WebRTC market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. On the other hand, the Middle East & Africa and Latin America regions are witnessing slow adoption of WebRTC solutions and services.
The report discusses the current market trends, overall adoption scenarios, and competitive landscape as well as key drivers, restraints, and opportunities in this market. It aims to estimate the current size and future growth potential of this market across different product types, verticals, and regions. The scope of this report also covers analysis of developmental strategies, such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations of key vendors in the Web Real-Time Communication Market.
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