Web real time communication (webRTC) market to grow by USD 66,579.72 million from 2022 to 2027; ALE International, Alphabet Inc. emerge as key contributors to growth - Technavio
NEW YORK, Aug. 8, 2023 /PRNewswire/ -- The latest report on web real time communication (webRTC) market, 2022-2027 estimated to register an incremental growth of by USD 66,579.72 million, almost at a CAGR of 48.89% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. 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. Also, with WebRTC, clients can utilize microphones and webcams to connect and interact through a peer-to-peer data channel. Furthermore, 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. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
Web Real Time Communication (webRTC) Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The web real-time communication (webRTC) market report covers the following areas:
Web Real Time Communication (webRTC) Market 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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. are among some of the major market participants.
Company Offerings
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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Web Real Time Communication (webRTC) Market 2023-2027: Market Dynamics
Key Trends
Increasing adoption of bring-your-own-device (BYOD) is an emerging webRTC market trend. BYOD encourages employees to bring their own devices to workplaces and over one-third of the employers in the world provide devices, such as smartphones and tablets, to their staff. Furthermore, over half of employers around the world encourage employees to bring their own devices to work.
Additionally, WebRTC solutions emphasize the lower-end processing power of a smartphone. This is required to send multiple signals to the users in a conversation. Hence, such trends fuel the growth of the webRTC market during the forecast period.
Major Challenges
The lack of high-end video conferencing features challenges the growth of the webRTC market. As WebRTC technology is in the nascent stages, it lacks a few high-end video conferencing features. Furthermore, WebRTC faces central processing unit (CPU) overload issues as the processor decodes encodes, and dispenses video and audio at the same time.
However, in cellular phones, the CPU stress (caused by numerous applications) leads to battery drain issues. Hence, such challenges impede the growth of the webRTC market during the forecast period.
Web Real Time Communication (webRTC) Market 2023-2027: Segmentation
Web Real Time Communication (webRTC) Market is segmented as below:
Application
Video
Voice
Data Sharing
Platform
Mobile
Browser
UC
Geography
North America
Europe
APAC
South America
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. Such technology offers reliable and high-quality video conferencing capabilities, and it is commonly utilized for integrated video calls on web or mobile applications. Additionally, 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 video conferencing solutions offer superior, secure, and cost-effective video conferencing facilities compared to alternative options available in the market. Hence, such advantages will drive the growth of the segment in the forecast period.
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Web Real Time Communication (webRTC) Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist web real time communication (webRTC) market growth during the next five years
Estimation of the web real time communication (webRTC) market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the web real time communication (webRTC) market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of web real time communication (webRTC) market, vendors
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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 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.
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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