Global Web Real-Time Communication Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
Web Real-Time Communication Market Overview:
"The Web Real-Time Communication Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Web Real-Time Communication (RTC) is a free, open-source project that provides web browsers and mobile applications with real-time communication via simple Application Programming Interfaces (APIs). It allows audio and video communication to work inside web pages by allowing direct peer-to-peer communication, eliminating the need to install plugins or download native apps.
In light of the recent COVID-19 outbreak, numerous trade show, corporate events, investor presentations, international seminars, etc. have been temporarily cancelled. As a result, most events such as these are being orchestrated through video conferencing. Furthermore, Work from Home (WFH) regulations and strict lockdown measures have subsequently led to a drastic increase in the demand for RTC solutions. Factors such as these are expected to significantly impact the revenue growth of the global web real-time communication market in the foreseeable future.
The need to share information via the internet, e-learning, as well as the increasing number of internet users and the rising penetration of the internet on a global-level are additional factors that are expected to contribute to the revenue growth of this global market in the years to come.
Powering real-time communication in the BFSI and retail sectors respectively are also anticipated to play crucial roles in the market growth of this industry over the next ten years.
Segmentation of the global web real-time communication market is as follows:
In terms of component, the solutions segment accounted for the majority revenue share of the global web real-time communication market in 2019, and is expected to continue to do so over the next decade. This can be attributed to the increasing demand for advanced APIs to embed real-time communication in browsers. Although, the services segment is slated to index the highest rate of revenue growth in the years to come.
Based on enabled device, the smartphones and tablets segments accounted for the majority revenue shares of this global market and is expected to continue to do so over the forecast period. The PC segment is also expected to register considerable revenue growth in the years to come.
Concerning end-use, the IT & telecom segment accounted for the highest number of revenue shares of this global market in 2019. However, the healthcare segment is expected to index the highest rate of revenue growth over the next decade, owing to the increase in adoption of telehealth platforms to reduce additional costs and increase patient engagement.
Regional Segmentation and Analysis:
North America accounted for the majority revenue share of the global web real-time communication market in 2019, owing to the large presence of key industry players in this region. However, markets in the APAC region are slated to index the fastest rate of revenue growth over the next 10 years, due to the increasing number of internet users in countries such as China and India.
Segmentation of the Global Web Real-Time Communication Market:
Segmentation by Component:
- Voice Calling & Conference
- Video Calling & Conference
- Message & File Sharing
Segmentation by Enabled Device:
- Smartphones & Tablets
Segmentation by End-Use:
- IT & Telecom
- Media & Entertainment
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Avaya Inc.
- Cisco Systems Inc.
- Dialogic Corp.
- Oracle Corp.
- Plivo Inc.
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