Web real time communication solution developers are investing in product improvements and industry collaborations to consolidate their market presence during the coronavirus pandemic.
DUBAI, UAE / ACCESSWIRE / July 21, 2020 / Future Market Insights: The web real time communication solution market is expected to gain major growth opportunities during the ongoing coronavirus pandemic. Numerous businesses are transitioning to remote working models for their employees. In addition, government and education sector applications of WebRTC are also gaining traction in the short term, as lockdown measures, restrict communication channels for people and organizations.
“Web RTC enables superior quality for video and audio at lower cost with better security as compared to conventional telecom systems. In addition, Web RTC is flexible to varied network conditions in terms of availability of bandwidth and congestion, bolstering efficiency of the network. Such characteristics will support market growth through and after the pandemic,” says the FMI analyst.
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Web Real Time Communication Solution Market – Important Takeaways
- Healthcare applications are a fast-growing segment owing to potential use in telemedicine, and fitness-based mobile applications.
- North America is a major web real time communication solution market owing to extensive use in retail, IT, telecom, and BFSI sectors.
Web Real Time Communication Solution Market – Driving Factors
- Investments in public sector and retail consumer experience improvements is a key growth driver.
- Transition of business verticals from conventional telecom solutions to real time options such as private branch exchange will support market growth.
- Increasing popularity of bring your own device practices generates key growth opportunities.
Web Real Time Communication Solution Market – Leading Constraints
- Lack of adequate network infrastructure is a key obstacle to web real time communication solution market expansion.
- Lack of awareness about Web RTC applications in multiple business verticals holds back market growth.
Expected Impact on Market by Coronavirus Outbreak
With the coronavirus pandemic, numerous business operations have taken up work-from-home practices. Similarly, education and government bodies have displayed interest in remote operations including video conferencing procedures. Such applications support the adoption of web real time communication solutions, as they provide high quality peer to peer communication, with superior security capabilities. These trends are likely to contribute to market growth even after the pandemic.
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Some of the top players operating in the web real time communication solution market are AT&T, Google LLC, Mitel Networks Corp., Avaya Inc., Ericsson, Cisco Systems Inc., Huawei Technologies Co. Ltd., and IBM Corp., Market players are pushing for Product improvements in functionality and performance in addition to mergers and acquisitions. For instance, Haivision has acquired Teltoo to build its WebRTC and P2P portfolios.
More on the Report
FMI’s provides in-depth insights on the web real time communication solution market. The market is segmented in terms of type (solution and services), deployment model (public cloud, private cloud, and hybrid cloud) application (social networking, gaming, voice calling, video conferencing, and others) and vertical (BFSI, public sector, manufacturing, transportation, healthcare, media & entertainment, IT & telecom, retail, and energy & utility).
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