Web Real-Time Communication Market Statistics Report, Size & Forecast-2030

Coverage: Web Real-Time Communication Market covers analysis By Component (Solution and Services), Enterprise Size (Large Enterprise and SMEs), Industry Vertical (IT and Telecom, BFSI, Healthcare, Retail, Media and Entertainment, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPTE100000187
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
Inquire Before Buy

PRICING

$5190

$4671

[Research Report] The web real-time communication market is expected to grow from US$ 5.26 billion in 2022 to US$ 56.83 billion by 2030; it is estimated to grow at a CAGR of 34.6% from 2022 to 2030.

Analyst Perspective:

As web real-time communication technology allows access to devices for real-time communication and media sharing, its demand in the market is increasing tremendously among enterprises. In addition, the increasing ICT spending in developing countries to ease business operations is propelling the growth of the web real-time communication market. Also, the growing demand for connected devices such as smartphones, tablets, laptops, and others is driving the growth of the market. Furthermore, the growing internet connectivity, developing requisite internet infrastructure, and the advent of 5G technology are expected to create an opportunity for the web real-time communication market growth in the forecasted period.

Market Overview:

Web Real-Time Communication (WebRTC) is a technology that enables real-time communication through application programming interfaces in mobile applications and web browsers. It is an open-source tool that helps in file transferring, video conferencing, desktop sharing, and chatting without the need for internal or external plugins. The web real-time communication technology also allows access to devices for real-time communication and media sharing. In addition, it also makes use of Javascript, HTML5, and application programming interfaces (APIs) to embed audio/video streaming and data sharing in the browser or application without the need for additional plugins.

Strategic Insights

Market Driver:

Rising Demand for Connected Devices Drives the Growth of the Web Real-Time Communication Market

The lockdown and work-from-home scenario has raised the need for connected devices such as smartphones, tablets, and laptops. These devices allow users to connect seamlessly through web real-time communication tools as it allows companies to quickly integrate audio and video from within an app or website. Also, this technology allows customers to easily and seamlessly connect with members of their business team to address their issues and concerns. Because of this, the demand for connected devices is continuously increasing in the market. According to the Groupe Speciale Mobile Association (GSMA), smartphone adoption across the world was 76% in 2022, totaling 6.4 billion smartphone connections. The adoption is expected to rise to 92% by 2030, making 9 billion connections globally. According to the same report, smartphone adoption in North America was 84% in 2022 and is expected to climb to 90% by 2030. Similarly, the smartphone adoption rate in Europe will increase from 84% in 2022 to 91% by 2030. In Sub-Saharan Africa, an underpenetrated market, the smartphone adoption rate is predicted to grow from 51% in 2022 to 87% by 2030. Furthermore, in 2021, Lenovo, Dell, and HP became the most popular laptop brands, having the combined shipping of around 60% of the laptops worldwide. Also, Apple recorded a 28% increase in desktop and laptop shipments in 2021. Thus, the rising demand for connected devices is driving the web market growth.

Market Driver:

Market Segmental Analysis:

Based on component, the web real-time communication market is segmented into solution and services. The solution segment held the largest web real-time communication market share in 2022 and is anticipated to register the highest CAGR during 2022-2030. WebRTC solutions allow organizations to seamlessly integrate communication capabilities into their web applications without the need for any third-party plugins or software. Web real-time communication solutions help businesses conduct high-definition video conferences, real-time collaboration, and live streaming on web-based platforms. In addition, organizations can integrate web real-time communication solutions to conduct online meetings, webinars, and virtual trade shows, providing immersive experiences for clients and partners. Thus, all the above factors are fueling the growth of the solution segment in the web real-time communication market.

Market Segmental Analysis:

Regional Analysis:

North America holds the largest web real-time communication market share in 2022. North America is a technologically advanced region owing to factors such as a positive outlook for advanced communication solutions, a high inclination toward technological innovation, high GDP, developed infrastructure, and favorable economic policies. Also, the growing demand for virtual meetings, along with high-speed internet connectivity, due to work from home scenario in the pandemic, is a major factor driving the market growth in this region. Furthermore, various market players such as Oracle Corporation; Cisco Systems. Inc.; Polycom; AT&T Inc.; Twilio Inc.; and others are present in the region. These market players are continuously working on providing innovative web real-time communication solutions to their customers.

Key Player Analysis:

Oracle Corporation; Cisco Systems. Inc.; Avaya Inc.; Polycom; AT&T Inc.; Vonage Holdings Corp; Twilio Inc.; ECOSMOB TECHNOLOGIES PVT. LTD.; Quobis; and Ribbon Communications Operating Company, Inc. are among the key web real-time communication market players. These web real-time communication market players are focused on continuous product development and innovation.

Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the web real-time communication market. A few recent key web real-time communication market developments are listed below: 

  • In July 2023, Alexa Smart Properties (ASP) announced support for WebRTC (Web Real-Time Communication)-based audio and video calling on all ASP-compatible Echo devices. With this launch, properties have more ways for staff and guests to access seamless peer-to-peer communication by being able to conduct video and audio calls between Echo devices and non-Echo devices such as tablets and laptops.
  • In June 2023, Hammer, the leading global provider of end-to-end contact center testing and CX assurance solutions, announced a strategic partnership with Servion, a leading contact center and CX solutions provider, to speed up the deployment of superior solutions that address the complexity of modern contact center environments. The strategic partnership means that Servion’s customers can now choose from a range of Hammer automated testing solutions for on-premises, hybrid, cloud-based, and WebRTC contact center environments, providing visibility into each step of the customer journey and accelerating service innovations while reducing risk.
  • In November 2022, LiveSwitch announced that it was selected to join the Akamai Qualified Computing Partner Program to provide WebRTC capabilities for Akamai cloud computing based on Linode. Through the Akamai Qualified Computing Partner Program, Akamai’s Linode customers will have seamless access to LiveSwitch’s video streaming infrastructure to power engaging, interactive real-time communications experiences within their applications.
  • In February 2022, TelcoSwitch introduced its new CallSwitch WebRTC (Web Real-Time Communications), which can help increase mobility by allowing users to access CallSwitch’s powerful set of features directly from their web browser without the need for applications. CallSwitch WebRTC is compatible with leading web browsers, including Google Chrome, Safari, Mozilla Firefox, and Microsoft Edge, enhancing mobility by allowing users to access CallSwitch’s powerful set of features from any desktop PC, Mac, iPad, or mobile device.
  • In January 2022, CP Communications launched two new products for live production, Virtual Media Center and the secure video management platform FastReturn, both based on WebRTC. FastReturn's base package includes five streams and supports up to 100 users but can be scaled to accommodate additional sources and larger equipment. Users can access FastReturn content through a web browser on smartphones, tablets, laptops, and desktops, as well as through Google Chromecast and Amazon Fire Stick digital media players. Also, Virtual Media Center is a browser-based multi-viewer designed to monitor, not broadcast, live video signals. Designed to be used by remote journalists, it features a variety of multi-viewer templates, from simple 2- and 4-frame displays to more extensive designs based on the number of signals being shared. Through a browser-based interface, media personnel can select which video streams to monitor.
  • In November 2021, Daily, the WebRTC developer platform, announced that it had raised US$ 40 million in Series B funding to support the expansion and growth of its video and audio API offerings. This brings the total funding for Daily to more than $60 million. Daily handles all the complexities of WebRTC video and audio. Developers using Daily can rapidly add real-time video and audio features to any product, including video calls, audio-only apps, webinars, live classes, interactive collaboration, e-commerce, customer support, IoT and robotics, and use cases across verticals.
  • In July 2021, NFON, a leading provider of voice-centric communications in the cloud,  announced a strategic partnership with Italian WebRTC company Meetecho. Under this partnership, NFON acquired a minority stake of 24.9% in Meetecho. Simultaneously, a collaboration agreement has been implemented to further the potential of the company’s “Janus” WebRTC server for both brands. The Meetecho Janus server is based on the open web standard WebRTC, enabling real-time communication, which is crucial for video, data, and voice transmission.

RD Image
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
REGIONAL FRAMEWORK
World Geography

Have a question?

Analyst

Naveen

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst   Speak to Analyst
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
MARKET PLAYERS
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Device Type, Organization Size, and, Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies 

  • Oracle Corporation
  • Cisco Systems. Inc.
  • Avaya Inc.
  • Polycom
  • AT&T Inc.
  • Tokbox Inc.
  • Twilio
  • Apidaze
  • Quobis
  • Genband

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Web Real-Time Communication Market