Web Real Time Communication Market Key Findings by 2031
The market is projected to grow from US$ 6.51 billion in 2023 to US$ 71.58 billion by 2031; it is expected to expand at a CAGR of 34.9% from 2023 to 2031. Integrating real time communication (RTC) within web-based applications enhances user experience and lowers costs by eradicating the requirement to install additional plugins. Thus, the webification of RTC is projected to be a noteworthy driver of overall market growth. The market's growth is determined by a number of factors, including the swelling popularity of video and audio conferencing, the proliferation of WebRTC apps in social media, and the surge in the number of connected devices.
Web Real Time Communication Market Analysis
Web Real-Time Communication (WebRTC) is an important technology and standard in the communications sector that enables contextual communication. It also aids as a baseline for API and platform providers, allowing mobile carriers to incorporate IMS-based applications. It also establishes an up-to-date environment for web developers, communication service providers, and cloud vendors. Mobile operators can take advantage of a variety of business opportunities with WebRTC technology. The global WebRTC market offers substantial potential for the IT and telecommunication industries. The modern corporate landscape has seen extensive use of WebRTC, predominantly in developing countries.
Web Real Time Communication Market Industry Overview
- Web real-time communication is an open project that offers browsers and mobile applications with real-time communication capabilities using simple APIs. WebRTC is compliant with numerous system conditions and interoperable with Voice over Internet Protocol (VoIP) or Unified Communications (UC), allowing organizations to communicate and coordinate impeccably within their existing framework, which is projected to drive market growth.
- Web real-time communication (WebRTC) facilitates real-time communication between browsers and mobile applications via simple Application Programming Interfaces (APIs).
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Web Real Time Communication Market: Strategic Insights
Market Size Value in US$ 8.84 billion in 2021 Market Size Value by US$ 39.78 billion by 2028 Growth rate CAGR of 21.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Web Real Time Communication Market: Strategic Insights
| Market Size Value in | US$ 8.84 billion in 2021 |
| Market Size Value by | US$ 39.78 billion by 2028 |
| Growth rate | CAGR of 21.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Web Real Time Communication Market Driver and Opportunities
Increasing Popularity of Audio and Video Conferencing to Drive the Web Real Time Communication Market
- The swelling popularity of audio and video conferencing is pointedly driving market development. Audio and video conferencing are critical for enterprises and IT infrastructure because they improve collaboration and communication among partners, employees, and customers. This technology has advanced significantly over time and is nowadays extensively available to the public.
- Web real time communication is an open-source platform that supports peer-to-peer audio and video conferencing. WebRTC-enabled applications receive video, audio, or other data streams. Web RTC allows clients to connect to the stream via a peer-to-peer data channel by means of a webcam or microphone. Thus, the demand for web real time communication is expected to increase during the forecast period.
Webification of Communication to Create Lucrative Market Opportunities
- Webification of RTC refers to the incorporation of communication into the web, which delivers a better user experience and can be accessible from any screen. Webification of communication not only provides rapid communication access but also increases communication efficiency.
- Aside from that, the augmented requirement for online educational classes, unified communications, telemedicine, work-from-home, and telehealth services as a result of the global pandemic has pushed the use of web-based real-time communication systems. Thus, webification in communication is projected to provide lucrative growth opportunities for market growth during the forecast period.
Web Real Time Communication Market Report Segmentation Analysis
The key segments that contributed to the derivation of the web real time communication market analysis are component, enterprise size, and industry vertical.
- In 2023, the IT and telecom segment had the principal market share. The application ecosystem and internet have already disrupted the telecommunications business. With Voice over Internet Protocol (VoIP) rising in popularity among clients globally, real-time communication via the Internet has become crucial. Thus driving the segment growth.
- The solution segment held the largest market share in 2023 and will grow at a stable CAGR from 2023 to 2031. The huge percentage is due to the increasing requirement for enhanced APIs that enable real-time communication in browsers.
Web Real Time Communication Market Share Analysis By Geography
- Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
- North America held a substantial share in 2023. This is owing to the presence of noteworthy industry participants like Oracle Corporation, Ribbon Communications Operating Company, Inc., Cisco Systems, Inc., and Avaya Inc. The budding demand for virtual meetings, combined with high-speed internet connectivity, is an important driver of market expansion in this region. Additionally, businesses in this region are early adopters of developing technology, which will help boost market growth.
Web Real Time Communication Market Report Scope
Web Real Time Communication Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the web real time communication market. Some of the recent key market developments are listed below:
- 2023, Alexa Smart Properties (ASP) announced support for WebRTC (Web Real-Time Communication)-based audio and video calling on all ASP-compatible Echo devices. With this launch, properties have more ways for staff and guests to access seamless peer-to-peer communication by being able to conduct video and audio calls between Echo devices and non-Echo devices such as tablets and laptops. [Source: Amazon Developers, Company Website]
Web Real Time Communication Market Report Coverage & Deliverables
The web real time communication market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Web Real Time Communication Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Device Type, Organization Size, and, Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
Asia Pacific is anticipated to grow with a high growth rate during the forecast period.
Growing adoption of bring-your-own-device (BYOD) and the webification of RTC in the global web real time communication market.
The major players holding majority shares are Cisco Systems. Inc., Oracle Corporation, Avaya Inc., Polycom, and AT&T Inc.
The increasing popularity of audio and video conferencing and increasing acquisitions and partnerships amongst major market players are the major factors that propel the global web real time communication market.
The global web real time communication market was estimated to grow at a CAGR of 34.9% during 2023 - 2031.The global web real time communication market was estimated to grow at a CAGR of 34.9% during 2023 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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