WebRTC offers high performance and low latency and, which eliminates the extra costs associated with the bandwidths across the wire.
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The global WebRTC market growth is attributed to cost-effective benefits of the WebRTC technology, advancements in communication through web, and increase in adoption on WebRTC technology among enterprises, owing to its easy access on mobile devices & desktops and high performance in low cost.
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Furthermore, rise in population, especially in Asia-Pacific, increase in ICT expenditure in the developing and the underdeveloped countries, high-speed connectivity, development of adequate internet infrastructure in Asia-Pacific, Africa, and South America, and surge in number of youth population using smartphones are expected to boost the market growth in the near future. In addition, rise in awareness about the WebRTC technology among end users, rapid proliferation of Bring Your Own Device (BYOD) in businesses, and growth prospects for WebRTC in untapped markets are expected to offer significant growth opportunities for the global WebRTC industry during the analysis period.
However, lack of universal standards, increase in security & privacy concerns, and need to replace the existing Voice Over IP (VoIP)/video conferencing infrastructure are anticipated to hinder the market growth. Moreover, WebRTC is being standardized by the Internet Engineering Task Force (IETF) and World Wide Web Consortium (W3C), which are expected to offer ubiquitous standards for WebRTC technology and widen its presence globally.
The global WebRTC market is segmented based on component, industry vertical, and geography. Based on component, it is bifurcated into solution and services.
The solution segment is further fragmented into voice calling & conferencing, video calling & conferencing, message & file sharing, and others (social networking and gaming). Based on industry vertical, the market is divided into banking, financial services, and insurance (BFSI); retail; telecom; public sector; media & entertainment; manufacturing; and others.
Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global WebRTC industry include Avaya Inc., Cisco Systems, Inc., Polycom, Oracle Corporation, Tokbox Inc., AT&T Inc., Genband, Plivo, Twilio, Quobis, and Apidaze. These players have expanded their market presence by adopting various business strategies such as acquisition, geographic expansion, product development, strategic alliances, and collaborations.
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KEY BENEFITS FOR STAKEHOLDERS
- In-depth analysis of the global WebRTC market along with its dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2016 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the global WebRTC industry and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players.
- Detailed analyses of the key players active in the global WebRTC industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.
- Profile analyses of leading players that operate in the global WebRTC industry have been provided, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.
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