New Product Launches is the Most Preferred Strategy in the Web Real-Time Communication Market
The WebRTC 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 the period 2017–2022. Some of the major factors driving the WebRTC market include webification of communication, increasing demand for WebRTC solutions from SMBs, and demand for secure & robust communication.
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.
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.
Related Reports:
Web Real-Time Communication Market by Product Type (Solution (Voice Calling & Conferencing, Messaging & File Sharing, Video Calling & Conferencing, Others), Service (Implementation & Integration, Consulting, Others)), Vertical, and by Region - Global Forecast to 2022
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