Global Web Real Time Communications Market, By Type (Solutions, Services) By Organization size (Large, Small, Medium), By Vertical (IT & Telecommunications, Media & Entertainment)- Forecast 2023
Market Scenario:
Web real time communication can be explained as a mode of telecommunications or protocols which look for embed real-time voice, text and video communications abilities through web browsers. It enables communications to be done easily between individuals through a browser. This particular mode of telecommunications run on java script application.
The factors contributing to the growth of the web real time communications market are increasing demand for secure mode of communications, rising demand from enterprise to improve customer relationship management, increasing implementation of these solutions in the healthcare sector and growing demand for better communication solutions.
Also, the benefits of implementing these solutions improves an organizations performance, reduces various expenses and reduces the complexities. Furthermore, web real time communications provide better video as well as audio quality at a lower cost compared to other telecommunications systems. The web real time communication technology is not supported in iOS and windows is hampering the growth of the overall market.
The key players in the global web real time communications market include- AT&T (U.S.), Apidaze (France), Avaya, Inc. (U.S.), Cafex Communications, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Dialogic, Inc. (U.S.), TokBox, Inc. (U.S.), Polycom, Inc. (U.S.), Oracle (U.S.), Twilio, Inc. (U.S.), GENBAND Inc. (U.S.), and Quobis (Spain) among others.
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According to Market Research Future Analysis, Web Real Time Communications has been valued at USD 10 billion by 2023 growing with 44% of CAGR during forecast period 2017 to 2023.
Web real time communications enables communications to be done easily between individuals through a browser. The system is specifically run on java script application. It also offers API for telecommunications network so that it can utilize the existing system to deliver user centric data and enhance operational efficiency. The system also enables businesses to communicate through smartphones. Web real time communications system also provides time efficiency, easy accessibility and encrypted commercial telephony system.
The rising demand for secure mode of communications, rising demand from enterprise to improve customer relationship management, increasing implementation of these solutions in the healthcare sector and growing demand for better communication solutions are boosting the growth of the web real time communications market. However, privacy issues related to these systems is hampering the growth of the market.
According to Market Research Future, market has been segmented into type, organization size, vertical and region.
On the basis of type, the market has been segmented into solutions and services. Out of these, services is expected to grow at a fast pace over the forecast period. The reason is attributed to implementation of these solutions for maintenance and operational efficiency. Also, web real time communications enhances organization’s performance, reduces the operating expenses and less complexities.
On the basis of organization size, the market has been segmented into large, medium and small. Out of these, small & medium sized enterprises accounted for the largest market share majorly due increasing demand for robust communications, enhancement in customer relationship management and verification of communications.
Market Research Future Analysis
The global web real time communications market is expected to grow significantly over the forecast period, 2017-2023. IT & telecommunications segment of web real time communications market globally drives the market majorly due to increasing demand for innovative technologies. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as India, China and Japan contributes largely to the overall growth of the market, majorly due to the increasing demand for web based video & audio communications and increasing implementations of these systems in small & medium businesses in this region. Web real time communications market is focusing to serve customer requirements efficiently and provide real time data.
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Market Highlights
The global web real time communications market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the web real time communications market is influenced by the growing demand for security solutions, growing demand for installation of these solutions in various organizations and increasing need for better video & audio system. Furthermore, high implementation of web real time communications in various sectors is expected to boost the market over the forecast period. However, the privacy issues of these system is hindering the growth of the web real time communication market.
Web Real Time Communications Market
According to Market Research Future, market has been segmented into type, organization size, vertical and region.
On the basis of vertical, the market has been segmented into IT & telecommunications, healthcare, media & entertainment, BFSI, retail, government and transportation among others. Out of these verticals, IT & Telecommunications segment accounted for the largest market share majorly due to advanced technologies with the existing infrastructure, delivering real-time solutions to customers and eliminates various complexities.
The healthcare segment is expected to grow at a fast pace over the forecast period, 2017-2023. The reason is attributed to increasing reliability on telehealth and telemedicine to access information anytime and increasing demand for online health checkups.
By Region, MRFR analysis shows that, Asia-Pacific region is expected to grow over the forecast period, 2017-2023, majorly due to increasing implementations of various government initiatives for operational efficiency and large number manufacturers in this region.
Europe is expected to have a stable growth rate over the forecast period, majorly due to implementation of these systems in the banking and finance sector and the growing media & entertainment sector in this region.
However, North-America accounted for the largest market share. Countries such as U.S contributes largely to the overall growth of the market. The reason of this growth is attributed to increasing investment in the healthcare sector and the increasing adoption of new technologies.
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