Web Real-Time Communication Market

Global Web Real-Time Communication Market is valued at USD 4.6 Billion in 2021 and is expected to reach USD 38.4 Billion by 2028 with a CAGR of 35.4% over the forecast period.

Global Web Real-Time Communication Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Increasing focus on enhancing customer experience in retail and public sector, rising demand for real-time communication across different industry verticals, and growing Work-from-Home trend are some of the major factors driving the growth of the Global Web Real-Time Communication Market.

Scope of Global Web Real-Time Communication Market

Web real-time communication is an open-source and free project that delivers browser-based apps, phone conversations, video chats, and file sharing, and removes the requirement for software plug-ins for the browser. WebRTC leverages simple application program interfaces (APIs), to allow real-time communication to mobile apps and websites. Furthermore, it makes it easier to include in commercial goods and presents it as an attractive choice for solution suppliers. WebRTC is widely used in conferencing to work with partners and suppliers, in medicine to connect with patients, in marketing to contact and establish relationships with customers in remote locations, and in job interviews to arrange, implement, and track interview processes.

The demand for WebRTC has expanded dramatically over the years and has been deployed by technological giants such as Amazon, Google, and Facebook among others to enhance the stability and security of their online services. WebRTC offers rapid and secure API-based communications for the transmission of audio, data, and video between web browsers. WebRTC systems are also capable of integrating with other applications for extra capabilities.

The rapid emergence of the COVID-19 pandemic halted the progress of several enterprises. Many sectors are noticing a significant reduction in the demand for their products. Some businesses are continually updating their product range to fulfill their client wants, which in turn will extend the supply chain. Therefore, few organizations are displaying great development prospects to distinguish from the competition even amid the effect of the epidemic. The onset of the COVID-19 pandemic has resulted in the postponement of various business events, trade exhibitions, international seminars, and investment presentations. As a result, hosts of these events have chosen video conferencing for conveying these events.

The Web Real-Time Communication Market has exhibited a tremendous demand during the shutdown owing to the work-from-home restrictions. The need for RTC solutions has surged because to the work-from-home limitations established by practically all businesses. This has positively benefited the market development.

The global Web Real-Time Communication market is segmented based on the component, enabled devices, end-use industry, and region & country level. Based on components, the global Web Real-Time Communication market is segmented into services and solutions. The solutions are further divided into video calling & conference, voice calling & conference, message & file sharing, and others. By enabled devices, the market is segmented into PCs, smartphones & tablets, and others. By end-use industry, the global Web Real-Time Communication market is segmented into BFSI, retail, IT & Telecom, healthcare, media & entertainment, and others.

The regions covered in the global Web Real-Time Communication market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Web Real-Time Communication is sub-divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players of Global Web Real-Time Communication Market

Some major key players for the global Web Real-Time Communication market report cover prominent players like

• Oracle Corporation,
• Cisco Systems, Inc.,
• Polycom, Inc.,
• AT&T Inc.,
• Avaya, Inc,
• Google Inc.,
• Cafex Communications, Inc.,
• Genband Inc.,
• Tokbox Inc.,
• Plivo, Inc.,
• Alcatel-Lucent,
• Mitel Networks,
• Dialogic Corporation
• International Business Machines Corporation

News

Ericsson announces Time-Critical Communication for real-time 5G experiences

On October 25, 2021; Ericsson introduces Time-Critical Communication for 5G real-time communications. In 5G networks, the new software toolbox provides persistent low latency and high dependability. Time-Critical Communication can improve existing use cases like cloud gaming and AR/VR while opening up new ones like mobility automation, remote control, and industrial control. The new Critical IoT software package is simple to install on private and public networks and it can operate in any 5G frequency range.

CP Communication Launches a virtual multimedia center based on webRTC

On January 25, 2022; CP Communications unveiled two new technologies for live recording, Virtual Media Center and the secured video management system FastReturn, both based on WebRTC.

Increasing focus on enhancing customer experience in the retail and public sector, rising demand for real-time communication across different industry verticals, and rising Work-from-Home trends are some of the major factors driving the growth of the Global Web Real-Time Communication Market

WebRTC has gained pace in the healthcare business during the last several years. The telehealth and telemedicine industry benefits substantially from WebRTC by increasing the security of patient health data via encryption of communication. Healthcare firms are implementing WebRTC to give superior services to patients than their rivals and get an advantage in the market. It allows healthcare companies to deliver remote treatment, doctor visits via teleconferencing, remote monitoring of patients, and clinical meetings among many others. It improves revenue management, enhanced customer interaction, and administration of health applications. Increasing usage of mobile telehealth apps further boosts market development. IoT is rapidly being incorporated into healthcare equipment such as smart bedside gadgets for continuous monitoring of patients, propelling market development.

The rising requirement for secure communication by different major and small enterprises is driving this industry. There has been a growth in the amount of companies using WebRTC solutions owing to the profitability it delivers to a company. The increased use of the Bring Your Own Devices (BYOD) and Internet of Things (IoT) is further driving the development of this market. The rising adoption of smart devices, expanding digitalization, and enhanced customer experiences further complement the development of this industry. Superior video and voice quality given by WebRTC solutions decreased technological costs, and the capacity to optimize current business flow has further enhanced its acceptance globally.

Various business sectors such as public, retail, healthcare, sector, retail, healthcare, and banking, financial services, insurance, (BFSI) have begun embracing WebRTC solutions. WebRTC delivers quick, efficient, and easy consumer engagement in real-time that enhances consumer experience at all customer touchpoints. This, in turn, is expected to support market growth throughout the forecast period. For instance, Amazon implements Mayday, a WebRTC platform, which provides a single-tap capability on the Kindle readers and allows users to speak with live call center agents in real-time.

However, unfamiliarity with the advantages of WebRTC in various business sectors is projected to restrict the global web real-time communication market development over the forecast period.

North America is Expected to Capture a Major Share in the Global Web Real-Time Communication Market

Geographically, North America is anticipated to lead the development of the global Web Real-Time Communication market throughout the forecast period owing to the presence of prominent market players, such as Oracle Corporation, Cisco Systems, Inc., and Avaya Inc. The rising demand for virtual meetings combined with high-speed internet access is a primary factor for the market expansion in this area. Furthermore, enterprises in this region are rapidly adopting innovative technology, which will help assist market development.

Due to the rising number of internet users in emerging nations like India and China, the Asia Pacific region is the one with the fastest growing market share in the global Web Real-Time Communication market. According to World Bank, in 2019, 50% of India’s population has access to the internet as opposed to 38.02% in 2018. Moreover, digitization in the area is predicted to provide tremendous potential for market development throughout the forecast period.

Global Web Real-Time Communication Market Segmentation

By Components:

• Services
• Solutions
  • Video calling & conference
  • Voice calling & conference
  • Message & file sharing,

By Enabled Devices:

• PCs
• Smartphones & Tablets
• Others

By End-use Industry:

• BFSI
• Retail
• IT & Telecom
• Healthcare
• Media & entertainment
• Others

By Regional & Country Level:

North America

• U.S
• Canada

Europe

• U.K
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 4.6 Billion
Base year considered	2021
Forecast Period CAGR %:	35.4%
Market Size Expected in 2028:	USD 38.4 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Oracle Corporation, Cisco Systems, Inc., Polycom, Inc., AT&T Inc., Avaya, Inc, Google Inc., Cafex Communications, Inc., Genband Inc., Tokbox Inc., Plivo, Inc., Alcatel-Lucent, Mitel Networks, Dialogic Corporation, and International Business Machines Corporation, among others.
Segments Covered	By Components, By Enabled Devices, By End-use Industry
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa