The global WebRTC market is estimated to grow at a significant CAGR during the forecast period. The major factors encouraging the growth of the market include the rising adoption of WebRTC among enterprises and technological advances in the field of unified communications (UC). In the modern world and fast development of the internet, the connection among people is being very significant than ever, people are looking for new methods to do advance communication between them without any issue, and real-time communication is one of these ways.

The use of WebRTC among enterprises can impact both the top and bottom lines. Web-based models have been demonstrated to increase innovation and agility in enterprises. WebRTC offers a new start for everyone in the communication space to completely adopt a web-centric model. The objective of web-real time communication to facilitate peer to peer communication natively between browsers. By using web-real time communication, the end-users do not have to use the same client or browser plug-in or download special software to communicate directly with each other. The open-source project WebRTC enabled users of these systems to view video content or record, comment on or stream it to achieve real-time communication between web browsers. 

WebRTC is an open-sourced standard from Google in 1122 for multimedia web systems. At this time, it is included in Web browsers such as Firefox, Chrome, Opera, and others. In the future, this technology is expected to be included in all browsers without plug-in components, which can end the threat of viruses while providing interactive communication. The Internet Engineering Task Force (IETF) and the WebRTCs Working Group are working on standards for WebRTC. Currently, the technology is fully enabled in Mozilla Firefox and Google Chrome web browsers. As a result, the adoption of WebRTC is growing significantly to advance their real-time communication capabilities, including messaging, video and voice into their mobile and web applications that work in a range of devices. 

It eliminates dependencies on third-party plugins and has a major potential to transform communication within the enterprise. Real-time communication features can be integrated into a range of contexts for applications in enterprises. Generally, an enterprise is connected to multiple kinds of devices including computers, mobile devices, and kiosks. A platform-independent WebRTC solution facilitates access to own application of the enterprise and increases efficiency.

Segmentation Outlook

The global WebRTC market is segmented on the basis of solution and vertical. Based on the solution, the market is segmented into voice communication, data communication, video calling & conferencing, and others. Based on vertical, the market is segmented into banking, financial services & insurance (BFSI), retail& consumer goods, IT & telecom, healthcare, media & entertainment, and others.

Global WebRTC Market Share by Vertical, 2018 (%) 

BFSI Occupied Significant Share in the Global WebRTC Market 

WebRTC offers a relatively straightforward way for banks to deliver more customer-centric user experiences. WebRTC technology allows real-time and next-generation customer interactions, including instant messaging, Voice over Internet Protocol (VoIP) calling, video chat, encrypted file- and screen- sharing presence and recording – all at the touch of a button. WebRTC improves service functionality, however, they include a much sought-after human element. While integrated with sophisticated security features such as biometric authentication technology employed by Atom Bank, they enable customers to connect with the suitable bank personnel instantly without the requirement to visit a physical branch. 

Web-real time communication is making its way into the websites of banking and insurance to perform interactions at a rapid pace. Ranging from better customer service to potential security, WebRTC powers superior interactions among banks or insurers and their clients. Therefore, it is expected to have a significant role in the BFSI sector.

Regional Outlook

Geographically, the global WebRTC market is segmented into four major regions, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW).North America is anticipated to contribute significant share in the market in 2018 owing to the increasing trend towards Bring Your Own Device (BYOD) among enterprises and the presence of major players, such as AT&T, Inc. Avaya Inc., Ribbon Communication Inc., and Google LLC in the region. However, Asia-Pacific is estimated to exhibit considerable growth in the market during the forecast period. Rapid growth in the telecom & IT sector and increasing digitalization is encouraging the regional growth of the market.

Market Players Outlook

Some of the major players operating in the market include AT&T, Inc., Avaya Inc., Ribbon Communications Inc., Google LLC, Oracle Corp., Mitel Networks Corp., and Twilio, Inc. Mergers and acquisitions, and partnerships and collaborations are some of the strategies adopted by the market players to expand market share and gain a competitive advantage over their competitors. For instance, in June 2018,Ribbon Communications Inc., a provider of intelligent cloud communication solutions signed an agreement to acquire Edgewater Networks, a provider of Network Edge Orchestration for the small and medium enterprise (SME) and UC market.  This acquisition will enable Ribbon to offer a full core-to-edge product portfolio, unrivaled end-to-end service assurance, and analytics solutions, and a fully integrated SD-WAN service to its global customer base.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.

• Annualized market revenues ($ million) for each market segment.

• Country-wise analysis of major geographical regions.

• Key companies operating in the global WebRTC market. Based on the availability of data, information related to the products and services, and relevant news is also available in the report.

• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

• Analysis of market-entry and market expansion strategies.

• Competitive strategies by identifying ‘who-stands-where’ in the market.