The global Web Real-Time Communication market size is expected to reach USD 16,570.5 million by 2026 according to a new study by Polaris Market Research. The report “Web Real-Time Communication Market Share, Size, Trends, Industry Analysis Report, By Platform (Mobile Applications, Web Browser, Others); By Product (Solution [Video Conferencing, Voice Calling, Collaboration, Others], Services [Consulting, Implementation, Others]); By End-User (BFSI, Healthcare, Manufacturing, IT and Telecom, Retail, Transportation, Others); By Regions; Segment Forecast, 2020 - 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The WebRTC market is projected to witness a significant growth over the forecast period. WebRTC provides a platform for real-time voice or video communications with other WebRTC devices. WebRTC is an open-source API offering high quality voice and video communication, while improving security against external attacks. It is adaptable to diverse network conditions and supports multiple media types and endpoints. There has been a massive increase in need for secure and affordable communication solutions by organizations owing to increased adoption of mobile devices, BYOD, IoT, and social media.
There has been an increasing integration of WebRTC solutions within dedicated desktop and mobile apps for provision of effective and secure voice, video, and data sharing support. Adoption of WebRTC offers an improved voice and video experience while significantly reducing bandwidth and network resources. It also offers improved support for mobile apps on smartphones and tablets. It offers off-the-shelf solutions for integration into other software. Organizations across the world are adopting WebRTC solutions for enhancing their external and in-house communication software for effective real-time video conferencing and support.
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The end-users of Web Real-Time Communication include BFSI, healthcare, manufacturing, IT and telecom, retail, transportation, and others. The IT and Telecom segment accounted for the highest share in 2019. However, the healthcare segment is expected to grow at the highest rate during the forecast period. In April 2018, TokBox, was selected by InTouch Health to provide WebRTC solutions to enhance its platform and deliver improved remote clinical care to patients. InTouch Health is a telehealth and telecommunications network offering virtual healthcare services to patients. The solution offered by TokBox implements AES encryption for protection of critical patient data.
North America dominated the global WebRTC market in 2019 and is expected to maintain its dominance over the forecast period. Rising applications in industries such as retail, healthcare, transportation, and manufacturing in the North American region is a significant driver for market growth. Rise in investment by small and medium sized businesses, along with technological advancement in telecommunication industry, is expected to drive the WebRTC market growth during the forecast period. The growing adoption of IoT, BYOD, and smart cities is expected to raise the market investment during the forecast period.
The Web Real-Time Communication market is characterized by established companies and large giants. Owing to technological advancements, and growing need to improve secure communication, companies are collaborating in order to retain the customers and gain market share. Broadening of product portfolio is another trend that is visible in the industry. Some of the major market participants include Cisco Systems, Inc., Oracle Corporation, AT&T Inc., Polycom, Inc., Google Inc., Avaya, Inc, Genband Inc., Cafex Communications, Inc., Plivo, Inc., Tokbox Inc., Mitel Networks, Alcatel-Lucent, International Business Machines Corporation, and Dialogic Corporation among others.
Polaris Market research has segmented the Web Real-Time Communication market report on the basis of Platform, Product, End-User, and Region
Web Real-Time Communication Product Outlook (Revenue, USD Million, 2015 – 2026)
Web Real-Time Communication End-User Outlook (Revenue, USD Million, 2015 – 2026)
Web Real-Time Communication Regional Outlook (Revenue, USD Million, 2015 – 2026)