Global WebRTC Market To Surpass US$ 19 Mn By 2023: Credence Research

“Credence Research”
The global WebRTC market is expected to grow at a significant CAGR of over 40% between 2016 to 2023.

According to a new market report published by Credence Research, Inc. “Web Real-Time Communication Market By Type (Solution, Service), By Service (Consulting, Implementation, Integration, Maintenance), By Application (Social Networking, Gaming, Voice Calling, Video Conferencing, Others), By End-user Vertical (BFSI, Public Sector, Healthcare, Transportation, Manufacturing, Media & Entertainment, IT & Telecom, Energy & Utility, Retail) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2023”, the global WebRTC market is expected to grow at a significant CAGR of over 40% between 2016 to 2023.

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Market Insights

End-user organizations operating in major sectors such as BFSI and healthcare are increasingly inclined towards deploying real-time communication solutions to offer enhanced services to their customer. This, in turn, is fuelinggrowth of the WebRTC market across the globe. Further, broadening application area of WebRTC solutions in emerging sectors such as media & entertainment and retail sectors is boostinggrowth of the market. Other driving factors such as increasing number of social media users and increasing mobile broadband penetrationis expected to drivegrowth of the market over the forecast period. However, lack of efficient networking infrastructure is hamperinggrowth of the market.

Competitive Insights:

The global WebRTC market ecosystem consists of real-time solution vendors, integrators, and communication service providers. Prominent players in the market are focused towards introducing technologically advanced solutions to gain first mover advantage. Also, strategic partnership has become another major strategy followed by key vendors in the global WebRTC market. Key players operating in the global WebRTC market are Avaya Inc., Google Inc., Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co. Ltd., Ericsson, ToKBox Inc., Mitel Networks Corporation, AT&T Inc., Twilio Inc. and Plivo Inc.

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Key Trends:

  • Growing trend of bring your own device to support market growth
  • Convergence of WebRTC with mobile apps and online portals
  • Introduction of cloud-based WebRTC platforms and solutions

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