Web Real-Time Communication Global Market Report 2022: Industry to Reach $35.6 Billion by 2027 at a 43.37% CAGR

DUBLIN, Dec. 30, 2022 /PRNewswire/ -- The "Web Real-Time Communication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to  ResearchAndMarkets.com's offering.

The global web real-time communication market size reached US$ 4.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 35.6 Billion by 2027, exhibiting a CAGR of 43.37% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Web real-time communication (WebRTC) supports browser-to-browser applications for the direct exchange of media. It is usually implemented as an open web standard and widely available as regular JavaScript Application Programming Interfaces (APIs) on major browsers. It enables video, voice, and generic data sharing, thereby allowing developers to build robust communication solutions. As a result, it is utilized in essential web apps that use the camera or microphone and advanced video-calling applications that offer screen sharing.

Web Real-Time Communication Market Trends:

With the digital transformation in financial services, mobile banking and insurance apps are gaining immense traction for faster communication via messaging. This represents one of the major factors bolstering the market growth as WebRTC allows rapid money movement and quick process claiming and improves overall customer experience. Moreover, it eliminates the need for installing third-party desktop communication software.

Consequently, it is finding applications in the retail sector across the globe to provide powerful multimedia capabilities without requiring special drivers, plug-ins, and intermediary servers.

Furthermore, the rising use of connected devices, such as smartphones, tablets, personal computers (PCs), remote sensors, and routers, is propelling the demand for WebRTC for car-sharing services and airline apps. Businesses around the world are also adopting WebRTC for task coordination, employee scheduling, work news, and other core functions.

Besides this, the aging population, improving telecommunications, and the increasing need for healthcare facilities are some of the factors catalyzing the adoption of customized WebRTC-based video conferencing services for telehealth. This, in confluence with the surging coronavirus disease (COVID-19) cases, is escalating the need for telehealth services for remote management of patients and contributing to the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global web real-time communication market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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

Key Questions Answered in This Report:

• How has the global web real-time communication market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global web real-time communication market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the webRTC-enabled devices?
• What is the breakup of the market based on the vertical?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global web real-time communication market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Web Real-Time Communication Market

6 Market Breakup by Component

7 Market Breakup by WebRTC-Enabled Devices

8 Market Breakup by Vertical

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape

Companies Mentioned

• 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.
• Vonage Holdings Corp.

For more information about this report visit https://www.researchandmarkets.com/r/upou4c

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Research and Markets
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SOURCE Research and Markets