Market
Highlights
The
global web
real time communications market is projected to reach USD 10 BN by 2023,
registering 44% CAGR throughout the review period 2017-2023. Web real-time
communications provide better video and audio quality at a lower cost than
other telecommunications systems.
The
factors that contribute to the growth of the web real-time communications
market are growing demand for safe communications mode, increasing demand from
business to enhance customer relationship management, increasing adoption of
such solutions in the healthcare sector, and increasing demand for better
communications solutions. In addition, web RTC offers a higher quality of video
and audio at a lower cost with an improved level of protection relative to
other telecommunications systems and thus could drive the development of the
global web RTC industry. The benefits of introducing such approaches also
improve the efficiency of an organization, reduce various costs, and reduce the
complexities. Web real-time communications can offer improved video and audio
quality at a lower cost than other telecommunications systems. Consumer
development facing industries such as retail, healthcare, and hospitality will
further fuel the development of the RTC web sector.
Web
RTC is still an evolving technology, however, and thus has specific problems
such as privacy issues in the use of the public internet and data protection.
These issues are expected to curb global network RTC market growth. The web
real time communication technology is not supported in iOS, and windows are
hampering the growth of the overall market.
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Segmentation:
The global market has been segmented, based on type, into
solutions and services. The solutions segment comprises video conferencing,
messaging, voice calling, and others. The services segment comprises of consulting,
integration, and others.
Based on the organization size, the market comprises of large,
medium, and small.
On
the basis of vertical, the global market has been divided into healthcare, IT
& telecommunications, media & entertainment, BFSI, government and
transportation, retail, among others. Out of these verticals, the IT &
Telecommunications segment assessed as the largest market share majorly due to
advanced technologies with the existing infrastructure, delivering real-time
solutions to consumers, and eliminates various complexities. The healthcare
segment is slated to grow at a fast pace over the review period, 2017-2023.
Regional
Analysis
North America dominates the global web
real time communications market. The largest market share
attributes to the increased adoption of new technological solutions. Besides,
development in the internet infrastructure and growing demand for better
operational efficiency drive the growth of the regional market. Moreover, the
strong presence of solution providers and well-established technology
development centers in the region fosters regional market growth, allowing
advanced communication technologies.
The US and Canada contribute to the growth of the regional market predominantly.
The rapid adoption of cloud and VoIP services and the growing adoption of
advanced technologies, such as IoT and artificial intelligence (AI),
substantiate the market demand.
Europe stands second in the global web real time communications market.
The market growth is driven by substantial R&D investments that transpired
into the development of communication technologies. Additionally, the early
adoption of ubiquitous technologies and the presence of big players boost the
growth of the regional market.
The UK and Germany, backed by the rapid industrialization and high
demand for optimum improved communication networks, leads the web real time
communications market in the region.
The Asia Pacific web real time communications market is growing rapidly.
Factors such as the adoption of advanced telecom services and development in
the media and entertainment industry push the growth of the regional market.
Furthermore, increasing adoption of new technology influences the web real time
communications market growth in the region.
Rapidly developing nations such as China, India, Japan, and South
Korea drive the regional market. Also, the presence of it &
telecommunication industries is a key factor driving the APAC web real time
communications market.
Global Web Real Time
Communications Market - Competitive Landscape
Highly competitive, the global web real time communications market
appears to be fragmented due to the presence of several key players. To gain a
larger competitive share, players incorporate strategic initiatives such as
mergers & acquisitions, collaboration, expansion, and product &
technology launch. These players make substantial investments to transform the
consumer and business landscape, driving the expansion of product line and global
footprint.
Players strive to deliver comprehensive communication solutions
developed with adept technology and features. Simultaneously, the growth in
terms of technologies and product innovations create substantial investment
opportunities for global players in the market. Most enterprises are expanding
their technological capabilities by adopting different IoT solutions and better
M2M operations.
Major Players:
Key players leading the global web real time communications market
are Apidaze (France), AT&T (US), Avaya, Inc. (US), Cisco Systems, Inc.
(US), Cafex Communications, Inc. (US), Dialogic, Inc. (US), Polycom, Inc. (US),
TokBox, Inc. (US), Oracle (US), GENBAND Inc. (US), Twilio, Inc. (US), and
Quobis (Spain) among others.
Industry/ Innovation/Related
News
October 20, 2020 ---- Retail Zipline Inc. (the US), a leading
global communication and execution platform for retailers, announced a
partnership with a US-based leading provider of ai-powered workforce management
solutions - Legion Technologies Inc. to bring best-in-class store communication
& scheduling to the world’s leading retail brands.
Through
this partnership, the two companies would help retail brands drive clarity
through best-in-class communication while also driving efficiency via
AI-powered scheduling automation through pre-built integrations.
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