According to a new research report by Transparency Market Research (TMR), the rivalry between Twilio Inc., Avaya Inc., Dialogic Corp., Genband, Mitel Networks, and Oracle Corp. points towards a highly fragmented and competitive landscape present in the global web real-time communication (webRTC) market.
As the leading players are increasingly being involved into the acquisition of smaller participants to increase their market share, the competition within this market is likely to intensify in the coming years. WebRTC solution providers are also expected uptake innovation and product advancements strategy to strengthen their presence in this market over the next few years, notes the research study.
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As per TMR’s estimations, the global webRTC market, which reached US$10.71 bn in 2016, will expand at a CAGR of 24.30% during the period from 2017 to 2025 and attain an opportunity worth US$81.52 bn by the end of the forecast period. Video webRTC solutions have been enjoying a stronger demand across the world compared to other solutions, thanks to their expanding application range. Analysts expect this scenario to continue like this throughout the period of the forecast.
Increasing Uptake of WebRTC Technology to Help North America Safeguard its Dominance
In this research study, the worldwide webRTC market has been evaluated on the basis of various parameters, among which the geography holds an important place. According to the report, Europe, the Middle East and Africa, Asia Pacific, North America, and South America are the primary geographical segments of the global market for webRTC.
North America, among these, acquired the leading position in 2016 with a share of more than 40% in the overall market and is anticipated to retain it throughout the forecast period, thanks to the increased uptake of webRTC technology in this region. The expanding application of these solutions in UCaaS and telecom services, high internet speed, and the surging number of mobile subscribers are also projected to boost this regional market over the next few years.
Europe has held the second position in this market in 2016. Researchers anticipate it to remain seated in this position over the forthcoming years on the grounds of the advancements in technologies and their swift uptake. Asia Pacific is also predicted to witness a substantial rise in its market share on account of the advancements in its telecom and IT sector and the burgeoning base of internet users. Japan, China, and India are expected to emerge as leading domestic markets in Asia Pacific with noticeable rise in the uptake of WebRTC solutions in the years to come, states the research report.
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Rising Popularity of IMSs to Drive Demand
“The increasing popularity of IP multimedia subsystems (IMS) is having the most prominent impact on the uptake of webRTC solutions,” states the author of the study. IMSs offer standardization of voice call services through IP packet switched network across the telecommunication industry. With the emergence of 4G LTE, the uptake of Voice over LTE (VoLTE) and rich communication services is likely to increase considerably among mobile users in the coming years.
Since webRTC operates on IP based systems, mobile network operators, nowadays, have begun to use webRTC solutions to leverage the adoption of VoLTE among their end users, which is likely to boost this market significantly over the forecast period. Apart from this, the ease of usage and device compatibility are also projected to reflect positively on this market in the near future.
Although the future of this market looks bright, the increasing dependency on Internet for better quality of services may hamper its growth to some extent over the next few years, notes the research study.