Web Real Time Communications Market: Technological Advancement

Posted by Sakshi Mishra on December 13th, 2020

The web real time communications market is proliferating. The market growth attributes to the increasing demand for a secure mode of communications. Besides, the rising demand from enterprises to improve customer relationship management drives the growth of the market. Due to the COVID-19 impacts on the industry, today, retailers are demanding efficient solutions to execute more complex directives, communicate more detailed safety standards, and comply with more rigorous mandates.

Moreover, increasing the implementation of these solutions in the healthcare sector and growing demand for better communication solutions escalate market growth. According to Market Research Future (MRFR), the global web real time communications market is projected to reach USD 10 BN by 2023, registering 44% CAGR throughout the review period 2017-2023. Web real-time communications provide better video and audio quality at a lower cost than other telecommunications systems.

Also, the benefits of implementing advanced communication solutions, such as improved organizational performance, while reducing overall management expenses and process complexities. Additionally, the increasing deployments of real-time communication solutions among retailers to achieve better business agility, ensure meeting all state & federal guidelines and engage frontline teams substantiate the market growth. The higher adoption of IoT devices and favorable government regulations influences the growth of the market.

The penetration of cost-efficient IoT technology that offers wireless transactions and machine to machine (M2M) communication to users pushes the market size. On the other hand, the web real-time communication technology is not supported in iOS and windows, which is a significant factor projected to impede the overall market growth. Nevertheless, the increasing adoption of web real time communication devices in increasing numbers of enterprises impacts the market a great deal.

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Web Real Time Communications Market   – Segmentation

The report is segmented into four dynamics;

By Type      : Solutions (Messaging, Video Conferencing, Voice Calling, others) and Services (Consulting, Integration, others).

By Organization size: Small-to-Medium Enterprises and Large Organizations.

By Vertical : Media & Entertainment, BFSI Healthcare, Transportation, Retail, IT & Telecommunications, and others.

By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.

Global Web Real Time Communications Market   – Regional Analysis

North America dominates the global web real time communications market. The largest market share attributes to the increased adoption of new technological solutions. Besides, development in the internet infrastructure and growing demand for better operational efficiency drive the growth of the regional market. Moreover, the strong presence of solution providers and well-established technology development centers in the region fosters regional market growth, allowing advanced communication technologies.

The US and Canada contribute to the growth of the regional market predominantly. The rapid adoption of cloud and VoIP services and the growing adoption of advanced technologies, such as IoT and artificial intelligence (AI), substantiate the market demand.

Europe stands second in the global web real time communications market. The market growth is driven by substantial R&D investments that transpired into the development of communication technologies. Additionally, the early adoption of ubiquitous technologies and the presence of big players boost the growth of the regional market.

The UK and Germany, backed by the rapid industrialization and high demand for optimum improved communication networks, leads the web real time communications market in the region.

The Asia Pacific web real time communications market is growing rapidly. Factors such as the adoption of advanced telecom services and development in the media and entertainment industry push the growth of the regional market. Furthermore, increasing adoption of new technology influences the web real time communications market growth in the region.

Rapidly developing nations such as China, India, Japan, and South Korea drive the regional market. Also, the presence of it & telecommunication industries is a key factor driving the APAC web real time communications market.

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Global Web Real Time Communications Market – Competitive Landscape

Highly competitive, the global web real time communications market appears to be fragmented due to the presence of several key players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch. These players make substantial investments to transform the consumer and business landscape, driving the expansion of product line and global footprint.

Players strive to deliver comprehensive communication solutions developed with adept technology and features. Simultaneously, the growth in terms of technologies and product innovations create substantial investment opportunities for global players in the market. Most enterprises are expanding their technological capabilities by adopting different IoT solutions and better M2M operations.

Major Players:

Key players leading the global web real time communications market are Apidaze (France), AT&T (US), Avaya, Inc. (US), Cisco Systems, Inc. (US), Cafex Communications, Inc. (US), Dialogic, Inc. (US), Polycom, Inc. (US), TokBox, Inc. (US), Oracle (US), GENBAND Inc. (US), Twilio, Inc. (US), and Quobis (Spain) among others.

Industry/ Innovation/Related News

October 20, 2020 —- Retail Zipline Inc. (the US), a leading global communication and execution platform for retailers, announced a partnership with a US-based leading provider of ai-powered workforce management solutions – Legion Technologies Inc. to bring best-in-class store communication & scheduling to the world’s leading retail brands.

Through this partnership, the two companies would help retail brands drive clarity through best-in-class communication while also driving efficiency via AI-powered scheduling automation through pre-built integrations.

About Market Research Future:

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Sakshi Mishra

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Sakshi Mishra
Joined: September 30th, 2020
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