BOSTON, MA–In a new report published by Smith’s Point Analytics, the company expects the market for Cloud RTC platforms, or tools that enable developers to integrate voice, messaging, and video, into their apps, to reach $4.3 billion in 2019. This market is growing rapidly and by the end of 2015 the market will have grown 270% over the previous 2 years, asserts the report. Cloud RTC Platforms leverage API’s, SDKs, JavaScript, HTML and WebRTC to abstract away the complexity of telecom technology enabling application developers to easily integrate voice, messaging and two-way video into their projects. With greater access to communications, developers can create more contextual and innovative experiences. Leading vendors in the space include, Telestax, Genband, Nexmo, Twilio, and Acision.
Demand for Cloud RTC Platforms is generated from a wide variety of applications, but the report shows much of the current growth is coming from messaging services and two-factor authentication features that help smooth the onboarding process of new app subscribers. Communicating with customers and prospects inside customer service and commerce apps is also a big demand driver. For example, click-to-call buttons and video chat features help vendors provide better service and drive new sales through more engaging real-time interactions. As the market moves forward, demand in the healthcare vertical and the education vertical is expected to generate more growth. Developing demand in the education segment is particularly strong with half of developers creating education apps expecting to integrate communications into their apps in the future, according to the developer survey included in the report.
Download Executive Summary and Complete Table of Contents
The report presents expansive competitive and market analysis of the lucrative and emerging market for Cloud Real-Time Communications Platforms. Coverage includes:
- Size of the Current and Future Market Opportunity
- Competitive Differentiators
- Market Structure, Growth Drivers and Adoption Barriers
- Developer Survey Identifying User Requirements With 182 Total Respondents
Market Forecasts extend to 2019 and include:
- Global Revenue for Cloud RTC Platforms
- Revenues for Cloud RTC Platforms segmented by region
- Revenues for Cloud RTC Platforms segmented by service (messaging, voice & video)
- Revenues for In-App Messaging (delivered through Cloud RTC Platforms), segmented by region
- Revenues for In-App Voice (delivered through Cloud RTC Platforms), segmented by region
- Revenues for In-App Video Communications (delivered through Cloud RTC Platforms), segmented by region
- Total developers integrating communications into their apps
- Total developers integrating communications into their apps, segmented by region