Web Real Time Communication Market: Trends and Opportunities with Forecast 2023
Web RTC provides time efficient, easily accessible and encrypted commercial telephony system. Web RTC is an open source API, hence could be easily accessed by the application developers. This has led to heavy adoption of web RTC in developing communication solutions at a lower cost compared to traditional systems. Web RTC does not depend on platform and device on which it is integrated, thus would attract global customers.
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Furthermore, web RTC provides better video and audio quality at a lower cost with enhanced security level compared to other telecommunication systems, thus could drive the growth of global web RTC market. Web RTC adapts and adjusts itself according to the changing network conditions. It adjusts according to bandwidth availability and avoids network congestion, thus increases efficiency of the network. The organizations enabled with web RTC technology products could improve customer interaction, promotional activities and increase their sales in a cost-effective way.
The growth in customer facing industries such as retail, healthcare and hospitality would further boost the growth of web RTC market. However, web RTC is still an emerging technology, therefore has various challenges such as privacy issues with use of public internet and data security. These issues are expected to restrain the growth of global web RTC market. With big players such as Apple Inc. and Microsoft Corporation not supporting web RTC technology, the market is expected to face a hurdle in its growth.
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Web Real Time Communication Market: Segmentation
Web RTC market is broadly segmented on the basis of type, solution and geography. On the basis of type, the web RTC market can be segmented into software and services whereas, on the basis of solution it can be segmented as video calling solutions, voice solutions, messaging solutions and file sharing solutions. The software segment of the market provides software which have web RTC functionality whereas service segment provides the technology and API to integrate web RTC in their existing websites.
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Moreover, in terms of geographies, the global Web RTC market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America regions. Web RTC technology show its strong presence in North America as technological advancements and heavy investments are made by the players of this region. Asia–Pacific and Europe are also adopting web RTC significantly due to tremendous growth seen in usage of web based applications.
Web Real Time Communication Market: Key Players
The major participants in the web RTC market include companies such as Google Incorporation, Mozilla Corporation, Cisco Systems Inc., Opera Software ASA, TokBox, Twilio, Alcatel-Lucent S.A., Voxeo Corporation, American Telephone & Telegraph Corporation and Avaya Inc.
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