Web Real-Time Communication (WebRTC) Solutions Market Analysis and Forecast 2020: By Keyplayers Avaya Inc., Twilio, Inc., Google Inc., Plivo Inc., Cisco Systems, Inc., AT&T Inc., IBM Corporation, Mitel Networks Corporation, Huawei Technologies Co., Ltd.,

Market Overview

Web real-time communication is a free and open-source project that offers browser-based applications, voice communications, video calls, file sharing, and eliminating need for software plug-ins for the browser. WebRTC utilizes simple application program interfaces (APIs), in order to provide real-time communication to mobile applications and browsers. Furthermore, it makes it easy to incorporate into commercial products and pose it as an attractive option for solution providers. WebRTC finds major applications in conferencing to collaborate with suppliers and partners, in medicine to communicate with patients, for marketing to contact and maintain relationships with customers from remote places, and for job interviews to schedule, implement, and take follow up of interview procedure.

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Competitive Section

Key companies operating in the global web real-time communication (WebRTC) solutions market are Avaya Inc., Twilio, Inc., Google Inc., Plivo Inc., Cisco Systems, Inc., AT&T Inc., IBM Corporation, Mitel Networks Corporation, Huawei Technologies Co., Ltd., TokBox Inc., and Ericsson.

The global Web real-time communication solution market was accounted for US$ 1,807.5 Mn in terms of value by 2018 and is expected to grow at a CAGR of 42.2% during the forecast period (2019-2027).

Market Dynamics- Drivers

1. Increasing focus on augmenting customer experience in retail and public sector is expected to drive growth of the global web real-time communication (WebRTC) solution market over the forecast period

Various industry verticals such as retail, public sector, banking, financial services, and insurance, (BFSI), and healthcare have started adopting WebRTC solutions. WebRTC offers short, efficient, and convenient customer interaction in real-time that improves customer experience at all customer interaction points. This, in turn, is expected to drive the market growth over the forecast period. For instance, Amazon utilizes Mayday, a WebRTC platform, which offers single-tap function in the Kindle reader and enables them to communicate with live call center representatives in real-time.

2. Rising demand for real-time communication across different industry vertical is expected to drive the global web real-time communication (WebRTC) solution market over the forecast period
Various business verticals are upgrading their communication systems with advanced, real-time communication. They are shifting from telephone system to private branch exchange (PBX) to real-time communication. RTC supports audio and video calling services and real-time text messaging. Such sophisticated communication solutions facilitate organizations to collaborate with forces and connect with other customers efficiently. For instance, in 2014, GENBAND, a provider of WebRTC-enabled carrier-grade communication products, introduced Kandy, a WebRTC app to provide advanced communication solutions to suppliers, enterprises, developers, and carriers.

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Market Opportunities

1. Custom-made solutions offered to fulfill the specific requirements of enterprises is expected to pose significant growth opportunities

Certain organizations request customized WebRTC solutions so that they would fulfill their specific business requirements. Although WebRTC solutions are homogenous throughout the industry verticals, providing custom-made solutions can help market players to enhance their market presence. Thus, customized solutions is a major growth opportunity in the market.

2. Utilizing WebRTC as a tool to accept BYOD
WebRTC can increase the acceptance of bringing your own device (BYOD) culture and enterprise mobility among different business verticals. This is an effective and cost-efficient way to communicate with customers, suppliers, developers, and retailers. Key market players can offer WebRTC to bring enterprise mobility among organizations, which can offer flexibility and satisfaction to employees and increase the productivity of the organization. This, in turn, is expected to pose lucrative business opportunities for market players in the near future.

Market Trends

1. Advent of advanced WebRTC services and platforms is a major trend in the market
Key companies in the market are involved in launching enhanced WebRTC platforms and services to expand their service portfolio and gain competitive advantage in the marker. For instance, in 2016, BrainCert introduced the first WebRTC-based HTML5 Virtual Classroom in 50 languages. Moreover, key market players are focused on introducing industry vertical-specific WebRTC solutions, in order to enhance their market presence. For instance, in 2014, Telespeake introduced cloud-based WebRTC services, which is focused on education sector and contact centers.

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2. Emergence of virtual learning is another major trend in the market

Technological advancements have transformed the education sector with inclusion of e-learning and virtual classrooms. Presently, various educational institutions are adopting WebRTC platforms to provide real-time audio & video communication and messaging capabilities to existing learning system. Moreover, key players in the market focused on providing virtual-specific WebRTC to industries, in order to gain competitive edge in the near future.

Regulations

Latin America Regulations

In Argentina, a specific regulation states that VoIP is free to compete in the market and there are no efforts take to impose regulatory policies on it. Moreover, any operator who wants to offer VoIP needs a unique license for Telecommunications Services, which is inclusive of all telecommunications services, independently of the technology and network infrastructure used. Licensing Restrictions for VoIP in Mexico, Venezuela, Colombia, Chile, Brazil, Peru, and Dominican Republic.

Key Developments

1. Key companies in the market are focused on product launches, in order to gain competitive edge in the market. For instance, in January 2015, Cisco released multiple security patches for WebEx Meeting Server platform.

2. Major companies in the market are involved in forming alliances, in order to enhance their market presence. For instance, in October 2019, AT&T, Verizon, T-Mobile, and Sprint formed a joint venture named Cross Carrier Messaging Initiative (CCMI), in order to deliver next generation of messaging to businesses and consumers.

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