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 2023 – 2031
Web Real-Time Communication Market Outlook 2031
The global web real-time communication market size was USD 6.78 Billion in 2022 and is anticipated to reach USD 173.85 Billion by 2031 expand at a CAGR of 43.4% during the forecast period, 2023 to 2031. 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.
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.
Web Real-Time Communication 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 Web Real-Time Communication Market 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 |
Web Real-Time Communication Market - Global Industry Analysis, Growth, Trends, Share, Size, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
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, 2023 to 2031.
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.
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, 2023 to 2031. 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.
Web Real-Time Communication Market Regional Outlook
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.
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.