PUBLISHER: The Business Research Company | PRODUCT CODE: 1392978
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392978
“Web Real-Time Communication Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on web real-time communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for web real-time communication? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The web real-time communication market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Web Real-Time Communication (WebRTC) is an open-source project designed to integrate real-time video, voice, messaging, and other capabilities through JavaScript APIs directly within web browsers. This technology facilitates browser-to-browser communications without the need for additional plugins or utilities. WebRTC is employed for real-time data transfer in communications, eliminating the requirement for custom interfaces, special software, or extra plugins for integration.
The main components of Web Real-Time Communication are solutions and services. Solutions involve the development of real-time communication capabilities for various organizations, enabling seamless digital interaction. WebRTC solutions offer features such as voice calling, video calling, conferencing, messaging, and file sharing within organizations. Devices enabled with WebRTC include mobile, desktop, and tablet devices. These communication software solutions or services can be deployed on the cloud or on-premise. WebRTC is utilized by small, medium, and large-scale enterprises across various industries, including information technology (IT) and telecom, banking, financial services, and insurance (BFSI), government and defense, healthcare, retail, media and entertainment, among others.
The web real-time communication market research report is one of a series of new reports from The Business Research Company that provides web real-time communication market statistics, including web real-time communication industry global market size, regional shares, competitors with an web real-time communication market share, detailed web real-time communication market segments, market trends and opportunities, and any further data you may need to thrive in the web real-time communication industry. This web real-time communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The web real-time communication market size has grown exponentially in recent years. It will grow from $8. 62 billion in 2023 to $12. 51 billion in 2024 at a compound annual growth rate (CAGR) of 45. 2%. The growth observed in the historic period can be attributed to various factors, including the proliferation of web-based applications, the rise of remote collaboration, the emphasis on user-friendly and seamless experiences, the adoption of open-source standards, and the integration of Web Real-Time Communication (WebRTC) with mobile devices.
The web real-time communication market size is expected to see exponential growth in the next few years. It will grow to $55. 46 billion in 2028 at a compound annual growth rate (CAGR) of 45. 1%. The anticipated growth in the forecast period can be attributed to various factors, including the integration of Web Real-Time Communication (WebRTC) with unified communications, the expansion of Internet of Things (IoT) applications, enhanced security measures, and integration with augmented and virtual reality (AR/VR). Additionally, the deployment of 5G networks is expected to contribute to the growth of WebRTC. Major trends expected in the forecast period include the continued rise of remote work and virtual collaboration, a mobile-first approach to communication solutions, increased integration with web browsers, the emergence of Progressive Web Apps (PWAs), and advancements in security and privacy features within WebRTC applications.
The rising prevalence of Bring Your Own Device (BYOD) policies is set to propel the growth of the web real-time communication market. BYOD entails employees connecting to an organization's network using their personal devices, such as smartphones, tablets, computers, and laptops. Web real-time communication facilitates BYOD by enabling browser-to-browser connections without the need for additional plugins or utilities. According to Cisco, 89% of IT departments support BYOD in some capacity, with 69% of IT leaders expressing positive sentiments toward BYOD. Consequently, the increasing adoption of BYOD policies within companies is a significant driver of the web real-time communication market's growth.
The surge in remote work is expected to contribute to the expansion of the web real-time communication (WebRTC) market. Remote work, or telecommuting, involves employees performing their job tasks from locations outside the traditional workplace, often from their homes or other remote settings. The growth of remote work has accelerated the adoption of WebRTC solutions, crucial for maintaining efficient communication, collaboration, and connectivity among dispersed teams. For instance, a report by the United States Census Bureau in September 2022 revealed that 48. 3% of the workforce in the District of Columbia engaged in remote work in 2021, marking the highest percentage among states and state equivalents. States with significant proportions of remote workers included Washington (24. 2%), Maryland (24. 0%), Colorado (23. 7%), and Massachusetts (23. 7%). Thus, the increasing prevalence of remote work is a key factor driving the growth of the web real-time communication (WebRTC) market.
Major companies in the web real-time communication market are innovating by developing products like unified communications solutions (UC) to broaden their customer base, drive sales, and increase revenue. Unified communications solutions integrate various communication and collaboration tools into a unified interface. In June 2022, Lumen Technologies launched Lumen Solutions for Microsoft Teams, a managed UC solution leveraging the Lumen platform to enhance productivity, business agility, and customer support. This allows businesses to seamlessly adopt 'work from anywhere' policies as Lumen oversees the intricate calling and collaboration tools essential for remote work.
Major companies in the web real-time communication market are investing in advanced technologies such as video collaboration solutions to cater to a larger customer base, boost sales, and enhance revenue. Video collaboration solutions enable real-time interaction through video and audio communication, particularly valuable for remote work scenarios. In February 2023, Qualcomm Technologies introduced the Qualcomm QCS8250 Video Collaboration Reference Design, offering exceptional camera and audio quality along with on-device AI to elevate the virtual meeting experience. This solution is designed to minimize disruptions, improve efficiency, and create an immersive environment for remote meeting participants.
In July 2021, Synoptek LLC acquired Juxto's direct real-time communications (RTC) business, expanding its capabilities in the web real-time communication (WebRTC) domain. Juxto, a Canada-based provider of WebRTC solutions, brought a carrier-grade network designed for Teams Voice delivery, enhancing Synoptek's Real-Time Communication (RTC) services for enterprise settings.
Major companies operating in the in the web real-time communication market report are Avaya Inc., CafeX Communications Inc., Cisco Systems Inc., Dialogic Corporation, Google LLC, Alcatel-Lucent Enterprise International, AT&T Inc., Apidaze, Oracle Corporation, Plivo Inc., Quobis, Poly Inc., Ribbon Communications Operating Company Inc., Sangoma Technologies Corporation, Twilio Inc., Vonage Holdings Corp., WebRTC. ventures, Frozen Mountain Software, Agora. io, TokBox Inc., Temasys Communications Pte Ltd., Sinch AB, Pexip AS, QuickBlox, Skylink Technologies LLC, Xirsys Inc., SightCall, Peer5 Inc., Wowza Media Systems LLC, Jitsi
North America was the largest region in the web real-time communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web real-time communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the web real-time communication market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The web real-time communication market consists of revenues earned by entities by providing peer to peer, multipoint conferencing units (MCUs) and selective forwarding units. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.