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With remote work on the rise and teams being distributed across locations, organizations are seeking secure communication solutions that can help them to leverage on effective collaboration remotely. For instance, screen sharing capabilities, file transfer options as well as multiparty video conferencing characterize Webrtc making it perfect for real-time connection among virtual teams.This makes it easier since users don’t have to switch between different applications or platforms hence resulting in better streamlined and convenient means of communicating with each other.Besides, remote collaboration and communication tools have further pushed adoption of WebRTC.
Another driving factor is the increase in penetration of mobile devices coupled with demand for mobile friendly communication solutions which affects market dynamics of WebRTC. Webrtc is designed to be mobile-friendly allowing users to participate in live conversations through their smartphones or tablets without the need for dedicated apps. Thus flexibility makes webrtc become a top choice among industries using mobile devices thereby impacting positively on its market size.
A rising need for secure and privacy-focused communication solutions also influences the market dynamics of WebRTC. Inclusion of strong encryption protocols as well as security features by Webrtc ensures that user data remains safe along with all communications made through it. Considering increasing privacy concerns coupled with secure channels preference by businesses and entities as part of their management strategies has made webRTC necessary and it has positioned itself as a trusted solution for privacy-focused users by providing end-to-end encryption security, and peer-to-peer communication.
Moreover, WebRTC is growing in its market due to the integration of other technologies like Artificial Intelligence (AI) and Internet of Things (IoT). Innovative communication experiences can be developed by combining WebRTC with examples include artificial intelligence powered voice assistants or IoT devices. For instance, using AI chatbots integrated with WebRTC will give automated customer support services that have real-time voice or video interactions hence improving customer satisfaction and lowering support expenses.
Market dynamics of WebRTC are also driven by increasing adoption of cloud-based communication platforms. Cloud-based solutions are scalable, flexible and cost-effective, therefore making them attractive to businesses regardless of their sizes. This allows companies to use real time communications through Webrtc while integrating easily with cloud based communication platforms without having significant infrastructure investments.
Web Real Time Communications Market Highlights:
Web Real Time Communications Market Overview
The Web Real Time Communications refer to a mode of protocols or telecommunications that looks for real time embed voice. It also aims for text and video communications with the help of web browsers. The Java Script application usually runs this mode of telecommunications. This helps the users to communicate easily through the browsers. Web Real Time Communications also provide better audio and video at a low cost as compared to other telecommunication systems.The web real time communications market is growing rapidly and hence is expected to reach USD 43.1 billion by the end of 2030. The market will record its growth at a CAGR of 45% in the forecasted period.
COVID-19 Analysis:The sudden outbreak of the COVID-19 pandemic is terminating the growth of various industries. Many industries are recording a sudden drop in the demand of their products. Quite a few industries are constantly changing their product portfolio in order to satisfy their customer demands which in turn will increase the supply chain. Therefore, few companies are showing promising growth opportunities to stand out in the competition even during the impact of the pandemic.
The Web Real Time Communications Market has shown a huge demand during the lockdown due to the work from home regulations. The demand for RTC solutions has increased due to the work from home regulations that are imposed by almost all types of industries. This has positively affected the market growth of the Market.
Web Real Time Communications Market Dynamics:Drivers:The Web Real Time Communications Business is providing huge benefits on cost reduction of the WRTC solutions, webifying real time communications, and increasing the adoption of telehealth services across the world. The major driving factors of the WRTC market are the rising demand for Web Real Time Communications solutions from SMBs and the sudden need for robust and secure communications.
Opportunities:The work from home facilities has created a great opportunity in the Web Real Time Communications market. However, the WebRTC tool brings enterprise mobility and embraces the BYOD, which also creates a huge opportunity in the market. Restraints:The Web Real Time Communications market standards are still in a developmental phase which is a major factor that can restrain the growth of the Web Real Time Communications Industry. Challenges:Though there are various drivers that enhance the growth of the WRTC market, there are some challenges as well that the Web Real Time Communications market may face in the forecast period. The difficulty in the linking process across the browsers and the difficulty in the realization of technology are some of the challenges that the market may face. Cumulative Growth Analysis:There are multiple factors that drive the web real time communications market growth, which is expected to reach USD 10 billion at a CAGR of 44% in the forecast period. The WebRTC provides a simple way for SMBs to shift from its traditional communications solution to a modern solution. This helped them to attract more customers through the data centres.
Value Chain Analysis:The Web Real Time Communications Market value is estimated to rise at a rapid pace during the forecast period due to the increased demand for the internet. The new work from home regulations imposed by various industries for the strict lockdown has led to the increased use of the internet. Schools, colleges, and various companies are conducting video conference calls to increase the productivity of their enterprises. This has somehow augmented the demand for e-learning. Also, the rising number of internet users are expected to impact the market positively.
Web Real Time Communications Market Segment Overview:The Web Real Time Communications Market is segmented into six broad categories. They are by product, by solution, by service, by vertical, by organization size, and by deployment type. Here is a list of the market Segments along with their sub segments.
By Solution:
- Voice Calling and Conference
- Video Calling and Conference
- Messaging and File Sharing
- Others
By Product:
- Services
- Solutions
By Deployment Type:
- On-Premise
- Cloud
By Service:
- Integration and Implementation Services
- Consulting Services
- Others
By Organization Size:
- Medium
- Large
- Small
By Vertical:
- Healthcare
- Media and Entertainment
- Public Sector and Education
- IT and Telecom
- BFSI
- Transportation and Logistics
- Retail and Consumer Goods
- Others
Web Real Time Communications Market Regional Analysis:Geographically, the Web Real Time Communications Market size is divided into various regions such as Europe, North America, Latin America, The Middle East and Africa, and the Asia Pacific. North America, among these regions, has accounted for the largest share in the WBRTC market. North America is leading the market due to its development in the internet infrastructure, new technological solutions, the strong presence of the solution providers, and the increasing demand for better operational efficiency. The countries in North America, such as the US and Canada, contributes to the market heavily.
The Web Real Time Communications Market growth is expected to show a hike in the North American region at a specific CAGR over the forecast period. The players of the North American region are offering user-friendly and cost-effective industry-specific WRTC based communication solutions. Owing to significant growth in the demand for web-based audio and video communications, the Asia Pacific is also expected to show significant growth in the forecast period.
Web Real Time Communications Market Competitive Landscape:The Global Web Real Time Communications Market consists of integrators, real-time solution vendors, and communication service providers. The key players of the market are extremely focused on launching advanced solutions to gain an advantage and to stand out in the competition. These companies are basically focusing on increasing its product portfolio by implementing new innovative strategies. The prominent vendors of the WRTC market are following another major strategy which is maintaining a strategic partnership. This can help the market to achieve high growth in the forecasted period. Here is a list of the key players that are enhancing the Web Real Time Communications Market Growth.
List of Key Companies:
- Cafex Communications Inc. (US)
- Apidaze (France)
- TokBox Inc. (US)
- AT&T(US)
- Polycom Inc. (US)
- Quobis (Spain)
- Avaya Inc (US)
- Cisco Systems Inc (US)
- Twilio Inc (US)
- Dialogic Inc. (US)
- Oracle (US)
- GENBAND Inc. (US)
Recent Developments:
- Haivision introduced the KB 4K encoder in 2017, which was generated with the Intel Visual Compute Accelerator 2. It will permit the Nokia OZO Reality Platform to authorize the real-world delivery of 360-degree videos.
- In the year 2015, the AT&T Company, as a part of its Rich Communication Services (RCS) platform, inaugurated advanced video call and messaging services. Voice over LTE, WiFi calling services, NumberSync, and HD Voice, are also a part of this platform.
- In the same year, TokBox launched OpenTok, which is a WebRTC SDK. It allows the broadcasters to make live video contents or archive a video chat into an Apple TV app. The OpenTok Apple TV OS SDK was launched for the AppleTV to provide support to the next generation of endpoints like television.
- The next year, which is 2016, TokBox introduced SIP Interconnect. It is a solution that enables the contact centres to integrate WebRTC. WebRTC is basically a powered voice and video which offers personal as well as real-time customer service online.
Report Overview:This report is based on a detailed qualitative and quantitative research analysis of the Web Real Time Communications Market. It outlines the growth of the market along with various factors that are affecting the growth, such as opportunities, drivers, challenges, and restraints. This research report also provides knowledge on the recent developments and the market trends that are constantly changing. The COVID-19 impact on the market, competitive analysis, regional analysis, and the various segments into which the market has been divided are also covered in this Web Real Time Communications Market.
Report Detail:
- History Period: 2014-2016
- Base Year: 2016
- Forecast Period: 2017-2023
By Geographically:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa (MEA)
- Europe
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