Web Real-Time Communication Market By Component and Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2017-2023

Global WebRTC Market size was valued at $812 million in 2016, and is expected to reach $10,367 million by 2023, growing at a CAGR of 42.8% from 2017 to 2023. WebRTC or Web Real-Time Communication is an assortment of application programming interface (API) and communication protocols that allows real-time peer-to-peer connection through web browser without any need of additional plugins such as Flash or JavaScript.

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Web Real-Time Communication Market Key Segments:
By Component
• Solution
o Voice Calling & Conferencing
o Video Calling & Conferencing
o Message & File Sharing
o Others (Social Networking and Gaming)
• Services

By Industry Vertical
• BFSI
• Retail
• IT & Telecom
• Public Sector
• Media & Entertainment
• Manufacturing
• Healthcare
• Others

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The WebRTC market is analyzed based on solutions and services offered by the market players from various industry verticals. Advancements in communication technology through web, increase in ICT expenditure, exponential growth in population, high-speed connectivity, and large youth population active on smartphones drive the market growth. Furthermore, cost-effective benefits of the WebRTC technology, rapid proliferation of Bring Your Own Device (BYOD) in enterprises, and growth potential in untapped markets such as Africa & Asia are expected to offer significant growth opportunities for WebRTC market. However, lack of substantial universal standards, rise in security & privacy concerns, and already established markets for Voice Over IP (VoIP) and traditional telecommunication services are expected to negatively impact the growth of WebRTC market.

The Key Players Profiled in the Report are as follows:
• Avaya Inc.
• Cisco Systems, Inc.
• Polycom
• Oracle Corporation
• Tokbox Inc.
• AT&T Inc.
• Genband
• Plivo
• Twilio
• Quobis
• Apidaze

This technology enables easy and cost-effective communication in terms of voice, video, and other data. This technology is in its growth stage, hence, requires extra efforts to create awareness among the various end users. The technology enables video chat, video conferencing, audio call, audio conferencing, text chats, file sharing, gaming, and social networking. WebRTC offers real-time communication at low costs with high performance.

Advancements in Communication Through Web Technology
WebRTC enables web developers to build applications that incorporate audio, video, chat, and data collaboration, without any need of voice-over-IP or telecommunications. WebRTC is an advancement in communication technology, which offers high reliability and security while in use.
The global WebRTC market is expected to reach $10,367 million by 2023, owing 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 resulting in low cost. The WebRTC market size is expected to witness significant growth attributed to high internet penetration significant population growth; especially in the underdeveloped and the developing countries of Asia-Pacific, Africa, South America, and others; considerable increase in ICT expenditure growth in adoption of cloud platform, and increase in number of young population active on social media platforms.

LIST OF TABLES
TABLE 1. GLOBAL WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)
TABLE 2. GLOBAL WEB REAL TIME COMMUNICATION SOLUTION MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 3. GLOBAL WEB REAL TIME COMMUNICATION SOLUTION MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 4. GLOBAL WEB REAL TIME COMMUNICATION SERVICES MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 5. WEB REAL TIME COMMUNICATION MARKET BY INDUSTRY VERTICAL, 2016-2023 ($MILLION)
TABLE 6. WEB REAL TIME COMMUNICATION MARKET FOR BFSI BY REGION, 2016-2023 ($MILLION)
TABLE 7. WEB REAL TIME COMMUNICATION MARKET FOR RETAIL BY REGION, 2016-2023 ($MILLION)
TABLE 8. WEB REAL TIME COMMUNICATION MARKET FOR IT & TELECOMBY REGION, 2016-2023 ($MILLION)
TABLE 9. WEB REAL TIME COMMUNICATION MARKET FOR PUBLIC SECTOR BY REGION, 2016-2023 ($MILLION)
TABLE 10. WEB REAL TIME COMMUNICATION MARKET FOR MEDIA & ENTERTAINMENT BY REGION, 2016-2023 ($MILLION)
TABLE 11. WEB REAL TIME COMMUNICATION MARKET FOR MANUFACTURING BY REGION, 2016-2023 ($MILLION)
TABLE 12. WEB REAL TIME COMMUNICATION MARKET FOR HEALTHCARE BY REGION, 2016-2023 ($MILLION)
TABLE 13. WEB REAL TIME COMMUNICATION MARKET FOR OTHERS BY REGION, 2016-2023 ($MILLION)
TABLE 14. WEB REAL TIME COMMUNICATION MARKET BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 15. NORTH AMERICA WEB REAL TIME COMMUNICATION MARKET BY COMPONENT, 2016-2023 ($MILLION)

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The real-time communication services, such as consulting, customer care services, telemedicine, and others, are expected to drive the growth of the technology in respective fields. Healthcare and retail industries are expected to witness considerable growth, while telecom sector dominated the global WebRTC market during the analysis period.

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