Key Market Players in the Web Real-Time Communication Market and Its Opportunities for growth

Posted on 2019-11-14 by MarketsandMarkets in Technology // 0 Comments

The Web Real-Time Communication Market is projected to grow from an estimated USD 1.04 Billion in 2017 to USD 6.49 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 44.2% during 2017–2022, as per a report by MarketsandMarkets.

Some of the major factors driving the WebRTC market include demand for secure & robust communication, webification of communications, and enterprises requiring improvement in customer relationship.

Why customized solutions catering to specific needs of organizations provides an opportunity?

Organizations today focus on contact centers and ‘click-to-call’ services to increase customer engagement on websites and applications. Every organization has distinct and specific requirements, and needs a comprehensive solution to generate the desired results. WebRTC vendors need to understand specific business communication demands and requirements of their clients and customers. In addition to this, vendors also need to understand that varied devices have different security requirements prior to the deployment of WebRTC-enabled applications. The market players are focused mainly on innovation as a strategy to cater to the changing needs of customers. Customized WebRTC solutions tailor-made for specific client requirements can create additional demand. Currently, this factor has a high impact on the demand for WebRTC solutions, and the trend is expected to continue over the forecast period.

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Key Market Players for Web Real-Time Communication Market

Technological giants such as TokBox, Inc. (U.S.), Apidaze (France), AT&T Inc. (U.S.), Avaya, Inc. (U.S.), Cisco Systems, Inc. (U.S.), GENBAND Inc. (U.S.), Dialogic, Inc. (U.S.), Polycom, Inc. (U.S.), Oracle (U.S.), Twilio, Inc. (U.S.), Quobis (Spain), and Cafex Communications, Inc. (U.S.), among others offer WebRTC solutions and services to cater to the market. These players have adopted various growth strategies, such as expansions, acquisitions, mergers & partnerships, and new product launches. New product launches is the most preferred strategy in the WebRTC market, as it helps enterprises in expanding their product portfolios in the web real-time communication market.

North America is expected to hold the largest market share in the WebRTC market

The WebRTC market in North America is expected to hold the largest market share during the forecast period. It is expected to benefit from technological advancements and internet infrastructure, widespread adoption of new technology, and the presence of strong domestic solution providers contributing to the growth in demand for WebRTC solutions. The need for better operational efficiency and business processes at low operating costs is expected to drive the growth of the WebRTC market.

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