FMI study offers a 10-year forecast for the global WebRTC solution market between 2015 and 2025. The market is expected to expand at a CAGR of 45.2% during the projected period. The study demonstrates the market dynamics and trends in all the seven region which influence the current nature and future status of WebRTC solution market over the forecast period.
Valley Cottage, NY -- (SBWIRE) -- 03/23/2018 -- Future Market Insights (FMI) delivers key insights on the Global Web Real-time Communication (RTC) Solution Market in its latest report titled "Web Real-time Communication (RTC) Solution Market: Global Industry Analysis and Opportunity Assessment, 2015–2025". The global WebRTC solution market is projected to expand at a CAGR of 45.2% during the forecast period due to various factors, regarding which FMI offers vital insights in detail in its report.
On the basis of type, the market has been segmented into solution and service segments. The solution segment accounted for over 50% share of the global WebRTC solution market in 2014, and is expected to witness a decline of 1,570 BPS in its market share by the end of 2025.On the basis of services, the market is segmented into consulting service, implementation service, integration service and maintenance service. Revenue contribution by the maintenance service segment was 9.3% in 2014, which is projected to increase to 13.7% by the end of 2025, witnessing gain of 440 BPS and expanding at an anticipated CAGR of 54.0% during the forecast period.
Deployment model includes public cloud, private cloud and hybrid cloud segments. The hybrid cloud segment is anticipated to expand at the highest CAGR of 48.6% during the forecast period. In contrast, the private cloud segment is projected to dominate the global WebRTC solution market with 52.6% share by the end of 2025.
Application wise, the market has been segmented into social networking, gaming, voice calling, video conferencing and others. Among applications, the video conferencing segment dominated the market with 44.3% share in 2014 and is projected to continue its dominance, accounting for 50.3% share of the overall market by the end of 2025.
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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 solution market.
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. Additionally, WebRTC solutions and services providers are focusing on the introduction of advanced developer tools for enhancement of WebRTC APIs in order to enable easy development of real-time multimedia web apps.
This report covers trends driving each segment and respective segments, sub-segments and offers analysis and insights of the potential of the WebRTC solution market in specific regions. By region, North America dominated the WebRTC solution market with over 35% market share in 2014, followed by Western Europe with 22.7% market share. North America is projected to remain the largest market for WebRTC solutions over the forecast period, driven by increasing demand for cost-effective and user-friendly browser-based real-time communication solutions by contact centers and other verticals in the region. This, in turn, is encouraging key players to introduce vertical-specific WebRTC solutions and services in North America.
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Some of the key players identified in 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 are currently focusing on strengthening their position in digital technologies and integrated communication services by acquiring other major players. In addition, these players are focusing on providing flexible and customised cloud-based communication platforms, such as WebRTC platform, to cope up with the changing customer demands.