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Increasing demand for WebRTC solutions from SMBs is expected to drive the WebRTC market
The WebRTC market is projected to grow from an estimated USD 1.04 billion in 2017 to USD 6.49 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 44.2% during the period, 2017–2022. The growth of the WebRTC market is mainly attributed to the webification of communications, demand for secure & robust communications, and enterprises requiring improvement in customer relationship.
Services market is expected to be the fastest-growing market during the forecast period
The market for the services segment is expected to grow at the highest CAGR during the forecast period. Service providers help in implementing intelligent communication solutions for the efficient operation and maintenance of any enterprise. The benefits of employing WebRTC services include improved organization performance, reduced complexities, and reduced operating expenses.
The healthcare vertical market is projected to grow at the highest CAGR during the forecast period
The healthcare vertical segment is expected to grow at the highest CAGR during the forecast period. Doctors, healthcare practitioners, and patients increasingly rely on telehealth and telemedicine to access real-time medical information, as well as to remotely consult doctors across the globe and avail expert diagnosis. There is a huge demand for WebRTC solutions in the healthcare sector to enable and ease the scheduling of appointments and checkups with online healthcare specialists, so as to eliminate the need for patients to visit hospitals.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific has been one of the fastest-growing markets in terms of high internet connectivity, mobile workforce expansion, and increasing adoption of mobile devices. The Asia-Pacific region has also been witnessing a significant increase in demand for web-based video and audio communications during the last few years. Large enterprises as well as small & medium-sized businesses in the Asia-Pacific countries have begun to acknowledge the importance of WebRTC solutions, and are focusing on the deployment of dedicated WebRTC solutions to facilitate affordable real-time communication and to efficiently serve customer requirements.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profiles of primary discussion participants are given below:
- By Company Type: Tier-1 (40%), Tier-2 (40%), and Tier-3 (20%)
- By Designation: C-Level (40%), Director Level (20%), and Others (40%)
- By Region: North America (40%), Europe (20%), Asia-Pacific (30%), and the Rest of the World (RoW) (10%)
The key WebRTC vendors profiled in the report are:
1. TokBox, Inc. (U.S.)
2. Apidaze (France)
3. AT&T (U.S.)
4. Avaya, Inc. (U.S.)
5. Cisco Systems, Inc. (U.S.)
6. GENBAND Inc. (U.S.)
7. Dialogic, Inc. (U.S.)
8. Polycom, Inc. (U.S.)
9. Oracle (U.S.)
10. Twilio, Inc. (U.S.)
11. Quobis (Spain)
12. Cafex Communications, Inc. (U.S.)
The global WebRTC market has been segmented on the basis of product type, vertical, and region. A detailed analysis of the regions provides insights into potential future business opportunities in different regions. In addition to this, product portfolio analysis, value chain analysis, and strategic benchmarking are some of the other MarketsandMarkets analyses included in the report.
Reasons To Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the WebRTC market comprehensively and provides the closest approximations of revenues for the overall market and subsegments, across different regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.