According to the latest report by IMARC Group, titled “Web Real-Time Communication Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global web real-time communication market size reached US$ 4.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2027, exhibiting a growth rate (CAGR) of 43.3% during 2022-2027.
Report Metric
Historical: 2016-2021
Base Year: 2020
Forecast Year: 2022-2027
Web Real-Time Communication Market Industry Definition and Application:
Web real-time communication (WebRTC) refers to a free and open-source project that supports browser-to-browser applications for the direct exchange of media. It is widely available as regular JavaScript Application Programming Interfaces (APIs) on major browsers. WebRTC enables audio and video communication and eliminates the need for installing third-party desktop communication software. As a result, it is extensively used in essential web apps using a camera or microphone and advanced video-calling applications that offer screen sharing.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Web Real-Time Communication Market Trends and Drivers:
The increasing digitization of financial services and rising adoption of mobile banking and insurance apps are driving the web real-time communication market. WebRTC improves the overall customer experience by allowing quick money movement and process claims. WebRTC also finds applications across the retail sector to provide powerful multimedia capabilities without requiring special plug-ins, drivers, intermediary servers, etc.
Additionally, the growing penetration of smartphones, personal computers (PCs), routers, tablets, remote sensors, etc., is propelling the demand for WebRTC for car-sharing services and airline apps. Moreover, businesses around the globe are adopting WebRTC for employee scheduling, task coordination, work news, and other core functions. Apart from this, the increasing need for healthcare facilities, especially with the surge of coronavirus disease (COVID-19), is escalating the demand for telehealth services for remote patient management. This, in turn, is expected to fuel the market growth in the coming years.
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Web Real-Time Communication Market Segmentation:
The report has segmented the market on the basis on region, component, webrtc-enabled devices and vertical.
Breakup by Component:
Solution
Voice Calling and Conferencing
Video Calling and Conferencing
Message and File Sharing
Others
Services
Breakup by WebRTC-Enabled Devices:
Mobile
Desktop
Tablet
Others
Breakup by Vertical:
BFSI
Retail
IT and Telecom
Public Sector
Media and Entertainment
Manufacturing
Healthcare
Others
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
Who are the Major Web Real-Time Communication Market Key players?
The report provides a detailed analysis of the market leaders, including.
AT&T Inc., Avaya Inc., Cisco Systems Inc., Dialogic Corporation (Enghouse Systems Limited), Oracle Corporation, Plivo Inc., Polycom Inc. (Plantronics Inc.), Quobis, Ribbon Communications Operating Company Inc., Sangoma Technologies Corporation, Twilio Inc. and Vonage Holdings Corp.
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