New advancement and Developments are Propelling the Growth of Web Real-Time Communication Market
Growth of the market is owing to increasing inclination of consumers towards interacting with peers through real-time communication and rising use of social media. According to Coherent Marker Insights’ analysis, as of July 2016, over 1.7 billion people were using Facebook monthly, which is about 38% of the U.S. population.
Web real-time communication does not require any special application for any mode of communication including voice and video chat between users. Additionally, rising adoption of smart devices, increased utilization of broadband connectivity, and development of IT infrastructure that is compatible for 4G LTE and 5G connectivity, is expected to propel growth of the global web real-time communication market. For instance, according to Coherent Market Insights’ analysis, as of 2016, over 68% of global population is already using mobile phones. In addition to that, according to Internet World Stats, as of June 30, 2017, total Internet users count was totaled at 3,885,567,619 among global population of 7,519,028,970. Therefore, these factors are expected to boost growth of global market growth over the forecast period.
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Web real-time communication standards are still in the developmental phase, which is one of the major factors restraining growth of the global web real time communication market.
Web Real-Time Communication Market: Regional Insights
The global web real-time communication market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for web real-time communication in North America accounted for the largest share in the global market in 2016. Growth in the region is attributed to the advanced technology and internet infrastructure, rising number of social media users in North America. For instance, according to Coherent Market Insights’ analysis, Facebook has the most active users about 1.860 billion per month. That is around 22% of the world’s population. In 2016 total, smartphone users in North America increased to about 78% from about 60% in 2015.
Hence, increase in smartphone utilization will proportionally increase demand for internet connectivity. North America is the leading market for 5G network infrastructure technology. This is due to presence of key market player such as T-Mobile, which is planning to establish 5G network infrastructure in the U.S. Additionally, AT&T and Verizon Communication have already successfully completed 5G trial and are expected to deploy it by 2023. These factors are leading to increasing demand for real-time communication in this region.
Web Real-Time Communication Market: Competitive Background
Major players operating in the global web real-time communication market include AT&T Inc., Tokbox Inc., Apidaze, Avaya, Inc., Cisco Systems, Inc., Genband Inc., Dialogic Corporation, Polycom, Inc., Oracle Corporation, Twilio, Inc., Quobis, and Cafex Communications, Inc.
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