Global Web Real-Time Communication Market to Grow at a CAGR of 41.9% by 2030.

Introduction

Web real-time communication, or WebRTC, is an open standard project consisting of APIs and communication protocols that enable peer-to-peer audio, video, and data connection between two web browsers or mobile applications without requiring additional plugins or the installation of native programs. This includes web-based video chat, video calling, audio calling, peer-to-peer file sharing, and text chats. WebRTC is a peer-to-peer communication system that reduces the fees associated with bandwidths across the wire. It is highly efficient and has low latency. WebRTC has multiple applications, including basic video/voice chat, multiplayer gaming, file sharing, and voice/video conferencing.

WebRTC technology's cost-effective advantages, the webification of real-time communication, and the rise in enterprise adoption of WebRTC technology are among the significant reasons driving the growth of the global web real-time communication market. In addition, an increase in ICT expenditures in emerging nations, a rise in smartphone usage, particularly in Asia-Pacific, a rise in internet connectivity, and the development of the necessary internet infrastructure in Asia-Pacific and Africa all contribute to the expansion of the industry. In contrast, the integration of AI with WebRTC, the proliferation of the bring-your-own-device (BYOD) trend, and the rising use of WebRTC for the Internet of Things (IoT) give lucrative potential possibilities for the worldwide WebRTC market over the forecast period.

Market Dynamics

Increase in the Implementation of WebRTC among Enterprises to Drive the Global Web Real-Time Communication Market

WebRTC enables enterprise clients to communicate directly with a person at a cheap cost and without downloading any plugins or picking up the phone to dial. WebRTC enables businesses to host external and internal meetings using a web browser rather than a separate software. For businesses, worldwide communications are liberated from their existing expensive per-minute fees, and the user experience is considerably enhanced by the ability to initiate a discussion immediately from an application or website. In addition, as WebRTC standards become more recognizable to developers, more enterprises will likely create their WebRTC applications to take advantage of the capabilities and cost advantages. SAP, for example, integrates robust communications and collaboration into its software to enhance efficiency and enable sales personnel to chat, videoconference, and communicate with their customers and coworkers in real-time.

Rapid Adoption of BYOD Trend to Provide Opportunities the to Drive the Global Web Real-Time Communication Market

With increased BYOD (Bring Your Own Device) usage in the office, businesses are anticipated to utilize sophisticated communication technologies such as WebRTC and HTML5. Enterprises are expected to provide their employees with the opportunity to work on their own devices, which necessitates the provision of HTML5 services compatible with web browsers such as Mozilla Firefox and Google Chrome or permits work-related applications to access enterprise data. WebRTC provides secure communication that runs on web browsers and may be readily integrated into enterprise applications to address this issue. Vendors like Switch Communications, Cisco with Spark, and Unify with Circuit are focused on team collaboration with WebRTC to link workers via audio, video, and messaging capabilities.

Regional Insights

Based on region, the global web real-time communication market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor and is estimated to grow at a CAGR of 40.7%. North America has the necessary infrastructure to deploy WebRTC technology. North American companies such as Facebook, Twitter, Snapchat, and Google Hangouts are among the most prominent WebRTC users. In addition, top suppliers are concentrating on developing innovative solutions, strategic collaborations, and geographic growth to improve their market position and raise global awareness of this new technology. Telecom firms are also developing agreements with WebRTC developers to recover the audience. In April 2017, for instance, i-COMM Connect, a WebRTC developer and software-as-a-service provider, unveiled the North America Partner Program for telecom consultants and communication service providers, which provides secure, immediate communication within any website session. In April 2017, Grandstream Networks, Inc. announced an innovative online conferencing platform, IPVideoTalk Web Meeting Service, which leverages WebRTC technology to provide high-quality web meetings with HD video and audio on Mac, iOS, and Android devices. The expansion of the WebRTC market in North America is anticipated to be driven by such beneficial initiatives and the technology's growing footing in the area.

Europe is the second largest region. It is projected to reach USD 41 billion by 2030, registering a CAGR of 42.7%. The European web real-time communication market is expanding at a rapid rate due to an increase in WebRTC adoption as a result of cost-effective solutions and an increase in market players' understanding of WebRTC's benefits. In 2015, European Computer Telecoms AG announced that the European incumbent operator providing mobile, fixed Internet, and digital television services had begun utilizing INtellECT WebRTC solutions enabled by Dialogic PowerMedia media processing software to offer WebRTC-enhanced video and voice 0800 toll-free services. In addition, widespread Internet use in Europe helps market growth.

Asia-Pacific is the third largest region. Asia-Pacific is anticipated to experience the most significant growth in the WebRTC market due to the rise in adoption of fast internet connections, such as 4G connections, the region's large population base, the explosive growth of smartphone penetration, the intensification of competition among telecom service providers, the expansion of the gross domestic product, and the rise in millennials' social media usage. In addition, quicker data connectivity on mobile and internet networks encourages businesses to incorporate high-quality communication and collaboration features into applications to attract a larger user base for improved communication. In addition, increases in IT spending and population expansion in countries like India and China are predicted to create lucrative potential prospects for the industry.

Key Highlights

• The global web real-time communication market was valued at USD 5.5 billion in 2021 and is projected to reach USD 128 billion by 2030, registering a CAGR of 41.9% during the forecast period (2022 – 2030).
• By component, the global web real-time communication market is divided into solutions and services. The solution segment is subdivided into video calling & conferencing, voice calling & conferencing message & file sharing, and others (social networking & gaming). The solutions segment was the highest contributor to the market and is estimated to grow at a CAGR of 40.9% during the forecast period. 
• By WebRTC-enabled devices, the global web real-time communication market is categorized into mobiles, desktops, tablets, and others. The mobile segment was the highest contributor to the market and is estimated to grow at a CAGR of 41.4% during the forecast period. Mobile devices can run WebRTC through browsers, hybrid, and native apps. Such increased application through different networks drives segment growth.
• As per industry vertical, the global web real-time communication market is divided into banking, financial services, & insurance (BFSI); retail; telecom; public sector; media & entertainment; manufacturing; and others. The IT & telecom segment was the highest contributor to the market and is estimated to grow at a CAGR of 41.8% during the forecast period. 

Competitive Players

Competitive Landscape

The report includes a comprehensive analysis of the key players operating in the web real-time communication market, which includes Avaya Inc., Cisco Systems, Inc., Dialogic Corporation, Plantronics, Inc., Oracle Corporation, Plivo, Quobis, Ribbon Communications Operating Company, Inc., Tokbox Inc. (Vonage), and Twilio Inc.

Recent Developments

Market News

• August 2022 - IWK Health announced the success of its web-delivered application – Chez NICU Home – and securely powered Cisco Webex technologies to connect NICU families to the education, support, and resources they require to become more active participants in the care of their babies, thereby improving family health outcomes. More than 450 families have flourished in the NICU due to the utilization of technology to give vital assistance and virtual connections.
• July 2022 - Cisco and Celcom Axiata Berhad (Celcom) have announced that their converged Software Defined Network (SDN) transport infrastructure deployed in 2019 has leveraged artificial intelligence and machine learning to improve their service provisioning time significantly. This deployment has enabled Celcom to enhance its go-to-market agility and create a future-ready network for a business of all sizes as well as consumers.

Segmentation

Global Web Real-Time Communication Market: Segmentation

By Component

Solution

• Voice Calling & Conferencing
• Video Calling & Conferencing
• Message and File Sharing
• Others (Social Networking and Gaming)

Services

By WebRTC-Enabled Devices

• Mobile
• Desktop
• Tablet
• Others

By Industry Vertical

• BFSI
• Retail
• IT & Telecom
• Public Sector
• Media & Entertainment
• Manufacturing
• Healthcare
• Others

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA