Web Real Time Communication (webRTC) Market size is to grow by USD 66,579.72 million from 2022 to 2027 | Historical and current forecast analysis research report- Technavio
NEW YORK, July 14, 2023 /PRNewswire/ -- The web real time communication (webRTC) market is to grow by USD 66,579.72 million from 2022 to 2027, at a CAGR of 48.89%, according to the latest research report from Technavio. Discover Application Software industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!
The web real time communication (webRTC) market covers the following areas:
The web real time communication (webRTC) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
ALE International - The company offers web real time communication solutions such as the ALE Rainbow platform.
Alphabet Inc. - The company offers web real time communication solutions such as Google Chrome, under the brand, Google Inc.
Anthology Inc. - The company offers web real time communication solutions under the brand, Blackboard Inc.
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Key Market Segmentation
This webRTC Market report extensively covers market segmentation by application (video, voice, and data sharing), platform (mobile, browser, and UC), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
The market share growth by the video segment will be significant during the forecast period. WebRTC solutions enable users to engage in video conferencing through instant streaming feeds without the need to download additional software or plugins. This technology offers reliable and high-quality video conferencing capabilities, and it is commonly utilized for integrated video calls on web or mobile applications. Unlike separate applications like Skype and FaceTime, WebRTC operates as an extension of the browser, leveraging the browser as the video conferencing endpoint. WebRTC video conferencing relies on three HTML APIs (getUserMedia, RTCPeerConnection, and RTCDataChannel) that are integrated into the browser, allowing for video and audio capture, user identification, and streaming data transmission to other browsers. WebRTC technology is open-source and ensures encrypted transmission of video conferencing data through a standardized protocol called Datagram Transport Layer Security (DTLS). This protocol is supported by browsers that are compatible with WebRTC. WebRTC video conferencing solutions offer superior, secure, and cost-effective video conferencing facilities compared to alternative options available in the market. These advantages will drive the growth of the segment in the forecast period.
North America is estimated to account for 35% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America, including countries like the US and Canada, has a highly developed market and a population with high disposable income, driving the demand for video and voice conferencing solutions for both personal and business purposes. Small and medium-sized organizations in the region are particularly focused on digitalization and leveraging conferencing technology for product promotions. Web application vendors in North America utilize WebRTC to create cost-effective and platform-independent solutions. Compared to other regions, there is widespread adoption of WebRTC among small and medium-sized enterprises in North America.
For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report
Companies Mentioned
ALE International
Alphabet Inc.
Anthology Inc.
Apple Inc.
AT and T Inc.
CafeX Communications Inc.
Cisco Systems Inc.
Enghouse Systems Ltd.
Hewlett Packard Enterprise Co.
International Business Machines Corp.
Microsoft Corp.
Mitel Networks Corp.
Oracle Corp.
Plivo Inc.
Quobis Networks SLU
Ribbon Communications Inc.
Sangoma Technologies Corp.
Telefonaktiebolaget LM Ericsson
Twilio Inc.
Avaya Inc.
What's New?
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession?
Global competitiveness and key competitor positions?
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial?-?buy the report!
Key Web Real Time Communication (webRTC) Market Driver- The growing popularity of video and audio conferencing is a major factor notably driving the web real time communication (webRTC) market growth. Voice and video conferencing play a crucial role in enhancing communication and collaboration between businesses and their employees, partners, and customers. The technology behind video and voice conferencing has significantly advanced over time and is now accessible to a wide range of users. WebRTC, an open-source platform, facilitates peer-to-peer connections for voice and video conferencing, allowing applications to access audio, video, and other data streams. With WebRTC, clients can utilize microphones and webcams to connect and interact through a peer-to-peer data channel. The demand for video and voice conferencing is on the rise, with over 70% of B2C marketers and 90% of B2B marketers utilizing videos for marketing purposes. This increasing demand for video and voice conferencing is expected to drive the growth of the Web Real-Time Communication Market during the forecast period.
Significant Web Real Time Communication (webRTC) Market Trends- Increasing adoption of BYOD is an emerging trend sharing the market growth.
Major Challenge- The lack of high-end video conferencing features is the major factor hindering the web real time communication market growth.
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Web Real Time Communication (webRTC) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 48.89%
Market growth 2023-2027
USD 66,579.72 million
Market structure
Fragmented
YoY growth 2022-2023(%)
48.25
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 35%
Key countries
US, Canada, India, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
ALE International, Alphabet Inc., Anthology Inc., Apple Inc., AT and T Inc., CafeX Communications Inc., Cisco Systems Inc., Enghouse Systems Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Oracle Corp., Plivo Inc., Quobis Networks SLU, Ribbon Communications Inc., Sangoma Technologies Corp., Telefonaktiebolaget LM Ericsson, Twilio Inc., and Avaya Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Platform
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global web real time communication (webRTC) market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global web real time communication (webRTC) market 2017 - 2021 ($ million)
Exhibit 176: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 177: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 178: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 179: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 180: Telefonaktiebolaget LM Ericsson - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 181: Inclusions checklist
Exhibit 182: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 183: Currency conversion rates for US$
13.4 Research methodology
Exhibit 184: Research methodology
Exhibit 185: Validation techniques employed for market sizing
Exhibit 186: Information sources
13.5 List of abbreviations
Exhibit 187: List of abbreviations
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