Web Real-Time Communication Market: Current Analysis and Forecast (2022-2028)

Web Real-Time Communication Market: Current Analysis and Forecast (2022-2028)

Web real-time communication (WebRTC) Market is expected to witness a CAGR of around 40% during the forecast period. WebRTC (Web Real-Time Communication) is a technology that allows web applications and websites to capture audio and video media, stream them on demand, and exchange data between browsers without the need for an intermediary. WebRTC works by connecting two browsers via an RTCPeerConnection. First, the browser is connected via signaling, bypassing the Session Description Protocol (SDP), this signaling detects where two users are and how they are connected, once the RTCPeerConnection is open, you can send video, audio, and data communications between the two browsers.

The growing adoption of web real-time communication is mainly attributed to the increasing use of online platforms for shopping has propelled the interest in mechanisms that provide continuous data to retailers and customers. For instance, according to Oberlo, there are more than 2 billion digital buyers around the world. The WebRTC market is further driven by growing interest in continued data collection and the growing trend of working from home. For instance, according to thehomeoffice, 82% of the employees prefer working from home even after the pandemic.

• Based on components, the market is segmented into solutions and services. The solutions category is expected to achieve a significant share of the webRTC market. The growing adoption of WebRTC solutions is mainly attributed to the growing trend of work-from-home culture. Furthermore, RTC solutions are cheaper communication tools. Moreover, there is a growing demand for advanced APIs to embed real-time communication in browsers. The RTC has features such as video calling and conferencing audio calling and conferencing, messaging and file sharing, and others these factors are very beneficial for any organization, which is also expected to propel the market during the forecast period.
• Based on application, the market is segmented into IT & telecom, BFSI, government & defense, healthcare, retail, and others. The IT & telecom segment is expected to achieve a significant share during the forecast period. Telecom companies are rethinking traditional telecom services and developing new solutions to meet current telecom trends. Furthermore, the growing complexities in the IT sector require IT engineers to be in constant communication with the team for better work efficiency, which is expected to propel the market during the forecast period.
• For a better understanding of the market adoption of the web real-time communication industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American region is expected lead the WebRTC market during the forecast period. The presence of major market players such as oracle, cisco, avaya Inc, etc. Furthermore, the growing number of SME’s in the region is also expected to drive the market in the region during the forecast period. Moreover, Increasing demand for virtual conferencing, coupled with high-speed internet connections, is a major driver of market growth in the region. Additionally, companies in the region are early adopters of new technologies that support market growth.
• Some of the major players operating in the market include apidaze.io, Avaya Inc, Cisco System Inc, Dialogic Corporation, Oracle Corporation, Plivo Inc, Quobis, Ribbon Communications Operating Company Inc, Temasys Communications and Twilio Inc.