0

Web Real-Time Communication (WebRTC) Market Expected to Reach $45.91 Billion by 2027

 
2022
Web Real-Time Communication (WebRTC) Market

Report Code : A01974

quote “The telecom & IT industry is witnessing major adoption of WebRTC solutions among many other industries, owing to usage of WebRTC by telecom companies for implementation of over-the-top (OTT) services to enable working on different platforms and devices. Moreover, the healthcare industry is anticipated to grow due to rise in popularity of telehealth apps.” quote

Vishwa Gaul
Research Analysts, ICT at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “WebReal-Time Communication Market by Component, WebRTC Enabled Devices, and Industry Vertical:  Opportunity Analysis and Industry Forecast, 2020-2027,”the global market was valued at $2.73 billion in 2019, and is projected to reach $45.91 billion by 2027, growing at a CAGR of 41.7% from 2020 to 2027.

Web real-time communication or WebRTC is an open source collection of application programming interface (API) and communication protocols that enable real-time communication for web browsers and mobile applications. It allows video or audio communication inside web pages by enabling real-time peer-to-peer connection without the need to install additional plugins or native apps. This technology facilitates easy and cost-effective communication in terms of voice, video, and other data. The technology enables video chat, video conferencing, audio call, audio conferencing, text chats, file sharing, gaming, and social networking, typically with internet browsers as endpoints. WebRTC offers real-time communication at low costs with high performance and encryption support. 

As WebRTC is adaptable to different system conditions and it is also interoperable with Unified Communications (UC) or Voice over Internet Protocol (VoIP), it facilitates organizations in seamless coordination & communication through their current framework, which is expected to boost the web real-time communication market growth. In addition, rise in adoption of BYOD trend, webification of communications systems, and growth in adoption of WebRTC solution to offer better customer assistance & enhance customer experience are major factors that drive the growth of the market. Moreover, integration of AI and increase in use cases of WebRTC in IoT are anticipated to create lucrative opportunities for the WebRTCmarket expansion.

The solution segment held the majority of the global web real-time communication market share in 2019, and is projected to maintain its dominance during the forecast period. The services segment is expected to witness highest growth rate of 43.8% from 2020 to 2027. This is attributed to need of enterprises to find suitable WebRTC solution and help integrate it with other enterprise applications. Increase in adoption of WebRTC solutions is also expected to boost the demand for these services.

The mobiles segment accounted for the major share among WebRTC enabled devices, owing to rapidly increasing number of smartphone users, growing popularity of communication apps among millennials, and low cost of smart phone devices. 

As per region, the global web real-time communication market was dominated by North America in 2019 and is expected to maintain this trend during the forecast period. Factors such as presence of leading companies using WebRTC in their offerings such as Facebook, Twitter, Snapchat, Google (Duo, Hangout), & others in North America and telecom companies forming alliances with WebRTC developers to recapture the audience are the major drivers for the market growth in this region. In addition, significant adoption of mobility and launch of innovative product offerings are expected to drive the WebRTC market growth during the forecast period. For instance, in April 2017, Grandstream Networks, Inc. launched an innovative web conferencing platform-IPVideoTalk Web Meeting Service that leverages the WebRTC technology to offer high-quality web meeting with HD video & audio through any Mac, iOS, or Android devices.

Key Findings Of The Study

  • By component, the solution segment led the web real-time communication market size in terms of revenue in 2019.

  • By WebRTC enabled devices, the mobiles segment accounted for the highest market share in 2019.

  • By industry vertical, the healthcare segment is anticipated to exhibit highest growth during the forecast period.

  • Region wise, North America accounted for the highest revenue in 2019; however, Asia-Pacific region is anticipated to exhibit highest growth during the web real-time communication market forecast period.

The global web real-time communicationmarket analysis includes some of the key market players such as Avaya Inc., Cisco Systems, Inc., Dialogic Corporation, Plantronics, Inc., Oracle Corporation, Plivo, Quobis, Ribbon Communications Operating Company, Inc., Tokbox Inc. (Vonage), and Twilio Inc.
 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Web Real-Time Communication Market by Component (Solution and Services), Web RTC Enabled Devices (Mobile, Desktop, Tablet, and Others), and Industry Vertical (BFSI, Retail, Telecom & IT, Public Sector, Media & Entertainment, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Web Real-Time Communication (WebRTC) Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers