Web Real-Time Communication Market

Web Real-Time Communication Market by Components (Solutions [Message & File Sharing, Video Calling & Conference, and Voice Calling & Conference] and Services), Enabled Devices (Smartphones & Tablets, PCs, and Others), End-users (BFSI, IT & Telecom, Media & Entertainment, Retail, and Healthcare), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Trends, Share, Size, and Forecast 2021 – 2028

  • Report ID: ICT-SE-457
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 142
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global web real-time communication market is anticipated to expand at a CAGR of 43% during the forecast period, 2021 to 2028. The growth of the market is attributed to the increasing adoption of real-time communication solutions in mobile applications.

Web real-time communication (WebRTC) facilitates real-time communication over browser as well as mobile applications with the help of simple application programming interfaces (APIs). Integration of RTC into web applications provide a sound user experience and decreases the costs as it eliminates the requirement of additional plugins.

Global Web Real-Time Communication Market Summary

The outbreak of the COVID-19 pandemic has led to the cancellation of several international seminars, corporate events, trade shows, and investor presentations. Therefore, hosts of these events have enrolled for video conferencing for communicating these events. Moreover, work-from-home policies across various industries including IT and education have increased the demand for RTC solutions. Stringent lockdown measures were implied in many countries, which in turn, has encouraged schools to boost learning through online portals.

According to a report of the International Telecommunication Union (ITU), in 2019, about 53% of the global population had gain access to the Internet as compared to 51% in 2018. Furthermore, the introduction of 5G technology is expected to support broadcasting service providers to improve their business in several areas, including interactive advertising, e-sports streaming, personal broadcasting, and educational broadcasting, to offer high-quality content by applying WebRTC. This facilitates viewers to communicate bi-directionally, which surges consumer engagement.

The use of latest technology allows shoppers to interact with the store’s staff from their home. While maintaining customer’s privacy, retailers can deliver high-quality live video stream from store. A real-time communication has been heavily implemented in the retail industry to address consumer grievances remotely. For instance, Amazon’s Kinesis Video Stream offers WebRTC-based standard-compliant real-time communication that comprises a set of protocols designed for establishing a peer-to-peer connection. One can use Amazon Kinesis Video Stream along with WebRTC and securely perform two-way video or audio communication.

Operating real-time communication which can run over a web browser is making its way into banking and insurance websites, due to which, organizations can interact with consumers more effectively. This reduces the need for consumers to physically visit the banks or insurance companies and, as a result, develops customer experience. Additionally, real-time video communication makes it possible for insurance companies to verify claims remotely and allows users to get compensation in a short period.

Market Trends, Drivers, Restraints, and Opportunities:

  • Growing penetration of Internet across various industry verticals including BFSI and healthcare is expected to boost the market growth.
  • Lack of support for the WebRTC technology from major technology players such as Apple Inc. and Microsoft Corp. can hinder the market growth.
  • Ongoing research and development programs by some major industry players is expected to present numerous opportunities in the foreseeable future.

Scope of the Report

The report on the global web real-time communication market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Attributes

Details

Report Title

Global Web Real-Time Communication
Market - Global Industry Analysis, Growth, Trends, Share, Size, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Components (Solutions and Services [Message & File Sharing, Video Calling & Conference, and Voice Calling & Conference]), Enabled Devices (Smartphones & Tablets, PCs, and Others), and End-users (BFSI, IT & Telecom, Media & Entertainment, Retail, and Healthcare)

Regional Scope

Asia Pacific, Europe, North America, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Growth Factors, Competitive Landscape, and Trends, and Revenue Forecast

Key Players Covered in the Report

Quobis, Plivo, Inc., Cisco Systems, Inc., Dialogic Corp., Oracle Corp., Avaya, Inc., and Apidaze

 

Global Web Real-Time Communication Market Segment Insights

Solutions segment is anticipated to hold a significant market share
Based on components, the market is bifurcated into services and solutions and services. The services is further segmented into message & file sharing, video calling & conference, and voice calling & conference. The solutions segment is anticipated to hold a significant share of the market and is projected to expand at a steady CAGR during the forecast period, 2021 to 2028. Growing demand for innovative APIs to embed real-time communication in browsers is propelling the segment growth. Considering the sub-segments, the video calling & conference segment is estimated to expand at a high CAGR during the forecast period owing to the increasing demand for high-quality video conferencing solutions.

The services segment is projected to register a robust CAGR of around 49% during the analysis period. Organizations are hiring companies that can provide them technological assistance, which can let them focus on their core business without having to worry about any technological issues. Numerous services provided by WebRTC providers comprises training, technological support, and interconnection. Furthermore, lack of technological expertise amongst customers is expected to enhance the demand for training and technological services.

Global Web Real-Time Communication Market By Component

Smartphones & tablets segment anticipated to account a large market share
On the basis of enabled devices, the market is divided into smartphones & tablets, PCs, and others. The smartphones & tablets segment is anticipated to account for a large market share and is expected to dominate during the forecast period. Growing penetration of smartphones is a major aspect that is contributing to high revenue share. Increasing usage of mobile applications powered by WebRTC is projected to upkeep the segment expansion in the coming years. Major technology companies such as Google LLC and Facebook Inc. have already launched their mobile applications, including Hangouts and Messenger, that operate on WebRTC. Additionally, Android OS has built-in support for WebRTC through Chrome, that is largely used in majority of the smartphones. Therefore, the growing penetration of smartphones is directly proportional to the overall segment expansion.

The PCs segment is projected to register a significant CAGR during the forecast period, 2021 to 2028. Several laptops, desktop, and other computing devices already support real-time communication through WebRTC browsers, including Mozilla Firefox, Opera, Google Chrome, and Safari. Additionally, the growing demand for video conferencing solutions across numerous industry verticals, including retail, IT & telecom, and BFSI, is propelling the segment growth.

IT & telecom segment expected to hold a considerable share
By end-users, the market is classified into BFSI, it & telecom, media & entertainment, retail, and healthcare. The IT & telecom segment is expected to hold a large share during the forecast period. Increasing penetration of Internet has led to integration of WebRTC technology in the telecom industry. Real-time communication has become crucial with the rapid growth of the social media platforms and voice across internet protocol (VoIP). Several telecom companies are evaluating their traditional communication services and creating new solutions that meet the current communication trends.

The healthcare segment is projected to expand at a CAGR of around 50% during the forecast period. This is attributed to growing adoption of telehealth platforms to rise patient and physician engagement and decrease the additional costs. Increasing implementation of video conferencing in the healthcare industry owing to rapid growth in the telehealth industry is expected to propel the segment growth.

Asia Pacific anticipated to exhibit a high CAGR
In terms of regions, the global web real-time communication market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to hold a large market share and is expected to maintain a dominant position during the forecast period. This is attributed to the presence of key market players, including Oracle Corporation, Cisco Systems, Inc., Ribbon Communications Operating Company, Inc., and Avaya Inc. Growing demand for virtual meetings and high-speed internet connectivity is a major booster for the market expansion in the regional market. Moreover, early adoption of latest technology is speculated to spur the market growth in the region.

The market in Asia Pacific is projected to expand at a high CAGR owing to the growing number of Internet users in emerging countries, including India and China. According to a report by World Bank, 34.50% of India’s population had access to the Internet in 2017 as compared to 22.5% in 2016. Furthermore, digitalization in the region is expected to produce a massive potential for market expansion during the analysis period.

Global Web Real-Time Communication Market By Region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Web Real-Time Communication Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Web Real-Time Communication Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Web Real-Time Communication Market - Supply Chain
  4.5. Global Web Real-Time Communication Market Forecast
     4.5.1. Web Real-Time Communication Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Web Real-Time Communication Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Web Real-Time Communication Market Absolute $ Opportunity
5. Global Web Real-Time Communication Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Web Real-Time Communication Market Size and Volume Forecast by End Users
     5.3.1. BFSI
     5.3.2. IT & Telecom
     5.3.3. Media & Entertainment
     5.3.4. Retail
     5.3.5. Healthcare
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Web Real-Time Communication Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Web Real-Time Communication Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Web Real-Time Communication Demand Share Forecast, 2019-2026
7. North America Web Real-Time Communication Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Web Real-Time Communication Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Web Real-Time Communication Market Size and Volume Forecast by End Users
     7.4.1. BFSI
     7.4.2. IT & Telecom
     7.4.3. Media & Entertainment
     7.4.4. Retail
     7.4.5. Healthcare
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Web Real-Time Communication Demand Share Forecast, 2019-2026
8. Latin America Web Real-Time Communication Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Web Real-Time Communication Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Web Real-Time Communication Market Size and Volume Forecast by End Users
     8.4.1. BFSI
     8.4.2. IT & Telecom
     8.4.3. Media & Entertainment
     8.4.4. Retail
     8.4.5. Healthcare
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Web Real-Time Communication Demand Share Forecast, 2019-2026
9. Europe Web Real-Time Communication Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Web Real-Time Communication Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Web Real-Time Communication Market Size and Volume Forecast by End Users
     9.4.1. BFSI
     9.4.2. IT & Telecom
     9.4.3. Media & Entertainment
     9.4.4. Retail
     9.4.5. Healthcare
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Web Real-Time Communication Demand Share Forecast, 2019-2026
10. Asia Pacific Web Real-Time Communication Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Web Real-Time Communication Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Web Real-Time Communication Market Size and Volume Forecast by End Users
     10.4.1. BFSI
     10.4.2. IT & Telecom
     10.4.3. Media & Entertainment
     10.4.4. Retail
     10.4.5. Healthcare
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Web Real-Time Communication Demand Share Forecast, 2019-2026
11. Middle East & Africa Web Real-Time Communication Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Web Real-Time Communication Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Web Real-Time Communication Market Size and Volume Forecast by End Users
     11.4.1. BFSI
     11.4.2. IT & Telecom
     11.4.3. Media & Entertainment
     11.4.4. Retail
     11.4.5. Healthcare
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Web Real-Time Communication Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Web Real-Time Communication Market: Market Share Analysis
  12.2. Web Real-Time Communication Distributors and Customers
  12.3. Web Real-Time Communication Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Quobis
     12.4.2. Plivo, Inc.
     12.4.3. Cisco Systems, Inc.
     12.4.4. Dialogic Corp.
     12.4.5. Oracle Corp.
Segments Covered in the Report
The global web real-time communication market has been segmented based on

Components
  •  
  • Services
  • Solutions
    • Message & File Sharing
    • Video Calling & Conference
    • Voice Calling & Conference
Enabled Devices
  • Smartphones & Tablets
  • PCs
  • Others
End-users
  • BFSI
  • IT & Telecom
  • Media & Entertainment
  • Retail
  • Healthcare
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Quobis
  • Plivo, Inc.
  • Cisco Systems, Inc.
  • Dialogic Corp.
  • Oracle Corp.
  • Avaya, Inc.
  • Apidaze

Some major participants of the global web real-time communication market include Quobis, Plivo, Inc., Cisco Systems, Inc., Dialogic Corp., Oracle Corp., Avaya, Inc., and Apidaze.

Key players are focusing on launching new products to improve their product portfolio and boost their market share. For instance, in March 2020, Ribbon Communications Operating Company, Inc. launched its cloud-based “[email protected]” offerings to provide innovative remote working facilities for enterprises. The offerings comprise complete Unified Communications and Collaboration solution with Ribbon’s smart office which offers conferencing, HD video whiteboard, screen sharing, and group chat on both mobile and desktop.

Companies are also engaging in inorganic strategies, including acquisitions and mergers, to acquire a competitive benefit in the market. For instance, in September 2019, Cisco Systems, Inc. announced the acquisition of Voicea, which offers real-time solutions. This acquisition was targeted to enhance the Cisco System Inc.’s Webex portfolio along with transcription services that merged artificial intelligence (AI) and automated speech recognition. Hence, product differentiation and strategic alliances are the key strategies implemented by the major companies working in the market.

Global Web Real-Time Communication Market By Key Players

Buy Report