Web Real-time Communication (RTC) Solution Market to reach US$ 22,979.9 Mn by 2025
Web real-time communication solution enables user to communicate in real-time. It supports browser to browser applications for voice calls, video calls and text sharing. Web real-time communication solution uses Application Programming Interfaces (APIs), HTML5 and JavaScript to embed communication technologies within the browser. It follows the principle of encryption of both data and signaling, which allows secure communication between sender and receiver. Web real-time communication solution is easy to use and does not require any special specification and helps in reducing business cost, which in turn is increasing its popularity globally. In addition, it enhances user experience by enabling un-interrupted voice and video communication.
Market Value and Forecast
The global WebRTC solution market is anticipated to expand at a significant CAGR during the forecast period. Growth of the global WebRTC solution market is mainly driven by rising demand for real-time communication, increasing number of Internet and social networking users, growing focus on enhancing customer experience and widening application areas of these solutions. The major trends witnessed in the global WebRTC solution market are introduction of advanced WebRTC platforms and services, WebRTC convergence and emergence of Bring Your Own Device (BYOD).
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Segmentation by Type
The global WebRTC solution market has been segmented, based on type, into solution and service. Of these segments, the solution segment dominated the market with 54.1% share in 2014, wherein it was valued at US$ 225.7 Mn. Meanwhile, the service segment is expected to expand at the highest CAGR during the forecast period.
Segmentation, by Service Type
Service segment includes the consulting service, implementation service, integration and maintenance service sub-segments. Among these sub-segments, the implementation service sub-segment dominated the service segment with 42.5% share in 2014, followed by the integration sub-segment.
Segmentation, by Deployment Model
On the basis of deployment model, the overall market has been segmented into public cloud, private cloud and hybrid cloud. Among the aforementioned segments, the private sub-segment dominated the market in 2014, wherein it was valued at US$ 197.6 Mn.
Segmentation, by Application
By application, the market has been segmented into social networking, gaming, voice calling, video conferencing and other segments. Among these segments, the video conferencing segment dominated the overall WebRTC solution market with 44.3% share in 2014, and is expected to witness an increase of 600 BPS in its market share by the end of 2025 as compared to that in 2014.
Segmentation, by Vertical
Vertical includes BFSI, public sector, manufacturing sector, transportation and logistics sector, healthcare sector, media & entertainment sector, IT & telecom sector, retail sector and energy & utility sector. In 2014, the healthcare sector, media & entertainment sector and IT & telecom sector collectively accounted for 57.7% share of the overall WebRTC market.
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Key Regions
The global WebRTC solution market includes seven major regions – North America, Western Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and Middle East & Africa (MEA). Of all these regions, North America dominated the global market with over 35% share in 2014, followed by Western Europe. In addition, APEJ is anticipated to become the fastest growing region in the WebRTC solution market during the forecast period.
Key Players
Some of the key players identified in the global WebRTC solution market are Avaya Inc., Google Inc., Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd., Ericsson AB, TokBox Inc., Mitel Networks Corporation, AT&T Inc., Plivo Inc. and Twilio, Inc. Major players in the market concentrates on introduction of advanced developer tools for enhancement of WebRTC APIs in order to enable easy development of real-time multimedia web apps.