Web real-time communication or WebRTC is an open standard project comprising APIs & communication protocols that enables peer-to-peer audio, video, and data communication between two web browsers or mobile application without using any need for additional plugins or downloading of native apps. This offers video chat, video calling, audio calling, peer-to-peer file sharing, and text chats usually in the web browsers. WebRTC is a peer-to-peer communicating technology, which eliminates the additional costs associated with bandwidths across the wire. It offers high performance and low latency. There are several uses for WebRTC such as basic video/voice chat, multiplayer gaming, file sharing, voice/video conferencing, and others.
Webification of real-time communication and rise in adoption of WebRTC technology among enterprises are some of the key factors that drive the growth of the global web real-time communication market. In addition, increase in ICT spending in developing countries and growth in internet connectivity in Asia-Pacific fuel market growth. However, a rise in security and privacy concerns are anticipated to restrict market growth. On the contrary, proliferation of BYOD trend and increase in use of WebRTC for IoT provide lucrative growth opportunities for the global WebRTC market during the analysis period.
The market is segmented on the basis of component, WebRTC-enabled devices, industry vertical, and region. By component, the market is divided into solution and services. The solution segment is sub-divided into voice calling & conferencing, video calling & conferencing, message & file sharing, and others (social networking & gaming). By WebRTC-enabled devices, the market is categorized into mobiles, desktop, tablets, and others. As per industry vertical, it is divided into banking, financial services, & insurance (BFSI); retail; telecom & IT; public sector; media & entertainment; manufacturing; and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes a comprehensive analysis of the key players operating in the web real-time communication market, which include Avaya Inc., Cisco Systems, Inc., Dialogic Corporation, Plantronics, Inc., Oracle Corporation, Plivo, Quobis, Ribbon Communications Operating Company, Inc., Tokbox Inc. (Vonage), and Twilio Inc.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By WebRTC-Enabled Devices
By Industry Vertical
BY REGION
KEY MARKET PLAYERS
Webification of real-time communication and rise in adoption of WebRTC technology among enterprises are some of the key factors that drive the growth of the global web real-time communication market. In addition, increase in ICT spending in developing countries and growth in internet connectivity in Asia-Pacific fuel market growth. However, a rise in security and privacy concerns are anticipated to restrict market growth. On the contrary, proliferation of BYOD trend and increase in use of WebRTC for IoT provide lucrative growth opportunities for the global WebRTC market during the analysis period.
The market is segmented on the basis of component, WebRTC-enabled devices, industry vertical, and region. By component, the market is divided into solution and services. The solution segment is sub-divided into voice calling & conferencing, video calling & conferencing, message & file sharing, and others (social networking & gaming). By WebRTC-enabled devices, the market is categorized into mobiles, desktop, tablets, and others. As per industry vertical, it is divided into banking, financial services, & insurance (BFSI); retail; telecom & IT; public sector; media & entertainment; manufacturing; and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes a comprehensive analysis of the key players operating in the web real-time communication market, which include Avaya Inc., Cisco Systems, Inc., Dialogic Corporation, Plantronics, Inc., Oracle Corporation, Plivo, Quobis, Ribbon Communications Operating Company, Inc., Tokbox Inc. (Vonage), and Twilio Inc.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global WebRTC market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analyses on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global WebRTC market from 2019 to 2027 is provided to determine the market potential.
KEY MARKET SEGMENTS
By Component
- Solution
- Voice Calling & Conferencing
- Video Calling & Conferencing
- Message and File Sharing
- Others (Social Networking and Gaming)
- Services
By WebRTC-Enabled Devices
- Mobile
- Desktop
- Tablet
- Others
By Industry Vertical
- BFSI
- Retail
- IT & Telecom
- Public Sector
- Media & Entertainment
- Manufacturing
- Healthcare
- Others
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Avaya Inc.
- Cisco Systems, Inc.
- Dialogic Corporation
- Oracle Corporation
- Plantronics, Inc.
- Plivo Inc.
- Quobis
- Ribbon Communications Operating Company, Inc.
- TokBox Inc. (Vonage)
- Twilio Inc.
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Web Real-Time Communication Market, by Component
Chapter 5: Web Real-Time Communication Market, by Webrtc-Enabled Devices
Chapter 6: Web Real-Time Communication Market, by Industry Vertical
Chapter 7: Web Real-Time Communication Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profile
Executive Summary
According to the report titled, 'WebReal-Time Communication Market by Component, WebRTC Enabled Devices, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027', the global market was valued at $2.73 billion in 2019, and is projected to reach $45.91 billion by 2027, growing at a CAGR of 41.7% from 2020 to 2027.Web real-time communication or WebRTC is an open source collection of application programming interface (API) and communication protocols that enable real-time communication for web browsers and mobile applications. It allows video or audio communication inside web pages by enabling real-time peer-to-peer connection without the need to install additional plugins or native apps. This technology facilitates easy and cost-effective communication in terms of voice, video, and other data. The technology enables video chat, video conferencing, audio call, audio conferencing, text chats, file sharing, gaming, and social networking, typically with internet browsers as endpoints. WebRTC offers real-time communication at low costs with high performance and encryption support.
As WebRTC is adaptable to different system conditions and it is also interoperable with Unified Communications (UC) or Voice over Internet Protocol (VoIP), it facilitates organizations in seamless coordination & communication through their current framework, which is expected to boost the web real-time communication market growth. In addition, rise in adoption of BYOD trend, webification of communications systems, and growth in adoption of WebRTC solution to offer better customer assistance & enhance customer experience are major factors that drive the growth of the market. Moreover, integration of AI and increase in use cases of WebRTC in IoT are anticipated to create lucrative opportunities for the WebRTCmarket expansion.
The solution segment held the majority of the global web real-time communication market share in 2019, and is projected to maintain its dominance during the forecast period. The services segment is expected to witness highest growth rate of 43.8% from 2020 to 2027. This is attributed to need of enterprises to find suitable WebRTC solution and help integrate it with other enterprise applications. Increase in adoption of WebRTC solutions is also expected to boost the demand for these services.
The mobiles segment accounted for the major share among WebRTC enabled devices, owing to rapidly increasing number of smartphone users, growing popularity of communication apps among millennials, and low cost of smart phone devices.
As per region, the global web real-time communication market was dominated by North America in 2019 and is expected to maintain this trend during the forecast period. Factors such as presence of leading companies using WebRTC in their offerings such as Facebook, Twitter, Snapchat, Google (Duo, Hangout), & others in North America and telecom companies forming alliances with WebRTC developers to recapture the audience are the major drivers for the market growth in this region. In addition, significant adoption of mobility and launch of innovative product offerings are expected to drive the WebRTC market growth during the forecast period. For instance, in April 2017, Grandstream Networks, Inc. launched an innovative web conferencing platform-IPVideoTalk Web Meeting Service that leverages the WebRTC technology to offer high-quality web meeting with HD video & audio through any Mac, iOS, or Android devices.
Key Findings Of The Study
By component, the solution segment led the web real-time communication market size in terms of revenue in 2019.
By WebRTC enabled devices, the mobiles segment accounted for the highest market share in 2019.
By industry vertical, the healthcare segment is anticipated to exhibit highest growth during the forecast period.
Region wise, North America accounted for the highest revenue in 2019; however, Asia-Pacific region is anticipated to exhibit highest growth during the web real-time communication market forecast period.
The global web real-time communication market analysis includes some of the key market players such as Avaya Inc., Cisco Systems, Inc., Dialogic Corporation, Plantronics, Inc., Oracle Corporation, Plivo, Quobis, Ribbon Communications Operating Company, Inc., Tokbox Inc. (Vonage), and Twilio Inc.
Companies Mentioned
- Avaya Inc.
- Cisco Systems Inc.
- Dialogic Corporation
- Plantronics Inc.
- Oracle Corporation
- Plivo
- Quobis
- Ribbon Communications Operating Company Inc.
- Tokbox Inc. (Vonage)
- Twilio Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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