The Web Real-Time Communication 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 2017–2022, as per a report by MarketsandMarkets.
Why customized solutions catering to specific needs of organizations provides an opportunity?
Organizations today focus on contact centers and ‘click-to-call’ services to increase customer engagement on websites and applications. Every organization has distinct and specific requirements, and needs a comprehensive solution to generate the desired results. WebRTC vendors need to understand specific business communication demands and requirements of their clients and customers. In addition to this, vendors also need to understand that varied devices have different security requirements prior to the deployment of WebRTC-enabled applications. The market players are focused mainly on innovation as a strategy to cater to the changing needs of customers. Customized WebRTC solutions tailor-made for specific client requirements can create additional demand. Currently, this factor has a high impact on the demand for WebRTC solutions, and the trend is expected to continue over the forecast period.
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Why interoperability issues across browsers presents a challenge?
Interoperability is the ability of a product/solution to work with other solutions without any special efforts or restrictions. As consumers prefer the WebRTC solution over traditional communication systems, the WebRTC communication standards have been implemented by various key players in their offerings, such as Facebook Messenger and Google Hangout. WebRTC offers a significant level of flexibility for the development of applications and realization of use-cases within its ecosystem. It helps in bridging various communication gaps across organizations. In some cases, WebRTC-enabled applications need to be connected with external domains, such as existing private branch exchange systems or public switched telephone networks, to ensure interoperability of session management, signals, network, and codecs. This poses a huge challenge for WebRTC vendors. Moreover, customers face major browser interoperability challenges related to signaling, call control, identity management transcoding, and security parameters of the communication system. These challenges are presently negatively impacting the market.
Technological giants such as TokBox, Inc. (U.S.), Apidaze (France), AT&T Inc. (U.S.), Avaya, Inc. (U.S.), Cisco Systems, Inc. (U.S.), GENBAND Inc. (U.S.), Dialogic, Inc. (U.S.), Polycom, Inc. (U.S.), Oracle (U.S.), Twilio, Inc. (U.S.), Quobis (Spain), and Cafex Communications, Inc. (U.S.), among others offer WebRTC solutions and services to cater to the market. These players have adopted various growth strategies, such as expansions, acquisitions, mergers & partnerships, and new product launches. New product launches is the most preferred strategy in the WebRTC market, as it helps enterprises in expanding their product portfolios in the web real-time communication market.
TokBox, Inc. (U.S.) has adopted a strategic mix of organic and inorganic growth strategies, such as new product launches and partnerships. In May 2014, Mozilla partnered with TokBox to build real-time communication capabilities into its web browser. The main intent of this partnership was to provide users with real-time communication systems. Similarly, in September 2016, TokBox launched SIP Interconnect, a solution which enables contact centers to seamlessly integrate WebRTC-powered video and voice to offer personal, real-time customer service online.
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GENBAND (U.S.) on the other hand, primarily focuses majorly on inorganic growth strategies, such as partnerships, acquisitions, and collaborations to enhance its position in the WebRTC market. For instance, in March 2017, GENBAND announced its partnership with Polycom to enhance cloud-based voice communications and video solutions, and to meet the demanding DoD communications needs, which is expected to help the company in expanding its customer base. Similarly in September 2013, GENBAND acquired Fring, a U.K.-based consumer multimedia IP communications solutions provider across all major smartphone platforms, to help the company expand its cloud portfolio in the consumer market.
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