DUBLIN--(BUSINESS WIRE)--The "Web Real-Time Communication Market by Component, Web RTC Enabled Devices and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to the report, 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.
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.
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.
- 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.
Key Topics Covered
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Key Market Players
1.5. Research Methodology
Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Porter'S Five Forces Analysis
3.3. Key Player Positioning
3.4. Value Chain Analysis
3.5. Case Studies
3.6. Market Dynamics
126.96.36.199. Cost-Effective Benefits of WebRTC Technology
188.8.131.52. Webification of Real-Time Communications
184.108.40.206. Increase in the Adoption of Webrtc Among Enterprises
220.127.116.11. Lack of Universal Standards
18.104.22.168. Increase in Security and Privacy Concerns
22.214.171.124. Integration of AI with WebRTC
126.96.36.199. Rapid Adoption of BYOD Trend
188.8.131.52. Increasing Use Cases of WebRTC for IoT
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
6.4. IT & Telecom
6.5. Public Sector
6.6. Media & Entertainment
Chapter 7: Web Real-Time Communication Market, by Region
7.2. North America
Chapter 8: Competitive Landscape
8.1. Competitive Dashboard
8.2. Top Winning Strategies
8.3. Key Developments
Chapter 9: Company Profiles
9.1. Avaya Inc.
9.2. Cisco Systems, Inc.
9.3. Dialogic Corporation
9.4. Oracle Corporation
9.5. Plivo Inc.
9.6. Plantronics, Inc.
9.8. Ribbon Communications Operating Company, Inc.
9.9. Tokbox Inc.
9.10. Twilio Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2egp2q