Web Real-Time Communication Market Expected to Rise at 41.3% CAGR during 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Web Real-Time Communication Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global web real-time communication market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the web real-time communication market?

The global web real-time communication market size reached US$ 6.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.7 Billion by 2028, exhibiting a growth rate (CAGR) of 41.3% during 2023-2028.

What is web real-time communication?

Web real-time communication (WebRTC) refers to a free and open-source project that supports browser-to-browser applications for the direct exchange of media. It is widely available as regular JavaScript Application Programming Interfaces (APIs) on major browsers. WebRTC enables audio and video communication and eliminates the need for installing third-party desktop communication software. As a result, it is extensively used in essential web apps using a camera or microphone and advanced video-calling applications that offer screen sharing.

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What are the growth prospects and trends in the web real-time communication industry?

The increasing digitization of financial services and rising adoption of mobile banking and insurance apps are driving the web real-time communication market. WebRTC improves the overall customer experience by allowing quick money movement and process claims. WebRTC also finds applications across the retail sector to provide powerful multimedia capabilities without requiring special plug-ins, drivers, intermediary servers, etc. Additionally, the growing penetration of smartphones, personal computers (PCs), routers, tablets, remote sensors, etc., is propelling the demand for WebRTC for car-sharing services and airline apps. Moreover, businesses around the globe are adopting WebRTC for employee scheduling, task coordination, work news, and other core functions. Apart from this, the increasing need for healthcare facilities, especially with the surge of coronavirus disease (COVID-19), is escalating the demand for telehealth services for remote patient management. This, in turn, is expected to fuel the market growth in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

Solution
Voice Calling and Conferencing
Video Calling and Conferencing 
Message and File Sharing
Others
Services

Breakup by WebRTC-Enabled Devices:

Mobile
Desktop
Tablet
Others

Breakup by Vertical:

BFSI
Retail
IT and Telecom
Public Sector
Media and Entertainment
Manufacturing 
Healthcare
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?

The report covers the major market players including:

AT&T Inc.
Avaya Inc.
Cisco Systems Inc.
Dialogic Corporation (Enghouse Systems Limited)
Oracle Corporation
Plivo Inc.
Polycom Inc. (Plantronics Inc.)
Quobis
Ribbon Communications Operating Company Inc.
Sangoma Technologies Corporation
Twilio Inc.
Vonage Holdings Corp.

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