WEB REAL-TIME COMMUNICATION SOLUTION MARKET ANALYSIS

Market Challenges And Opportunities

 Global Web Real-Time Communication Solution Market- Restraints

Inadequate network infrastructure

Inadequate network infrastructure is the major factor expected to restrain the growth of the global Web Real-Time Communication Solution Market over the forecast period. The absence of efficient network infrastructure, especially in emerging economies, is expected to hinder the adoption of WebRTC solutions significantly. For instance, the Federal Communication Commission (FCC) estimates that in 2020, 68.6% of the population in rural areas of the United States would have access to mobile LTE and fixed terrestrial services, which is a lower percentage than the 92% recorded in metropolitan areas during the same year. Furthermore, the rate of transition from IPv4 to IPv6 in emerging regions is slower in comparison to developed regions. However, the government is expected to mandate the enhancement of network infrastructure in these regions in the near future in order to accelerate the growth of the market.

Unfamiliarity with benefits of WebRTC

Unfamiliarity with the benefits of WebRTC in different business verticals is expected to hamper the global Web Real-Time Communication Solution Market growth during the forecast period. There are several businesses and industries in emerging economies that are unfamiliar with benefits of WebRTC technology, which in turn is expected to restrict the market growth in the near future.   

Global Web Real-Time Communication Solution Market- Drivers

Increasing focus on augmenting the customer experience

Increasing focus on augmenting customer experience in retail and the public sector is expected to drive growth in the global Web Real-Time Communication Solution Market over the forecast period. Various industry verticals such as retail, public sector, banking, financial services, and insurance, (BFSI), and healthcare have started adopting WebRTC solutions. WebRTC offers short, efficient, and convenient customer interactions in real-time that improves customer experience at all customer interaction points. This, in turn, is expected to drive the market growth over the forecast period. For instance, Amazon, an e-commerce company utilizes Mayday, a WebRTC platform that offers a single-tap function in the Kindle reader and enables them to communicate with live call center representatives in real-time.

Rising demand for real-time communication

Rising demand for real-time communication across different industry vertical is expected to drive the global Web Real-Time Communication Solution Market over the forecast period. Various business verticals are upgrading their communication systems with advanced, real-time communication. They are shifting from the telephone system to the private branch exchange (PBX) to real-time communication. RTC supports audio and video calling services and real-time text messaging. Such sophisticated communication solutions facilitate organizations’ ability to collaborate with forces and connect with other customers efficiently. For instance, GENBAND, a provider of WebRTC enabled carrier-grade communication products, introduced Kandy, a WebRTC app, to provide advanced communication solutions to suppliers, enterprises, developers, and carriers.

Global Web Real-Time Communication Solution Market- Opportunities

Custom-made solutions

Custom-made solutions offered to fulfil specific requirements of enterprises are expected to pose significant growth opportunities. Certain organizations request customized WebRTC solutions so that they can fulfill their specific business requirements. Although, WebRTC solutions are homogenous throughout the industry verticals, providing custom-made solutions can help market players to enhance their market presence. Thus, customized solutions are a major growth opportunity in the market.

Utilizing WebRTC as a tool

WebRTC can increase the acceptance of the ‘bring your own device’ (BYOD) culture and enterprise mobility among different business verticals. This is an effective and cost-efficient way to communicate with customers, suppliers, developers, and retailers. Key market players can offer WebRTC to bring enterprise mobility to organizations, which can offer flexibility and satisfaction to employees and increase the productivity of the organization. This, in turn, is expected to pose lucrative business opportunities for market players in the near future.