Web Real-Time Communication Market to Surpass USD 121.6 billion by 2030 | Webification of Communication and Rising SMB Demand Drive Growth

WebRTC, an open standard project facilitating peer-to-peer audio, video, and data communication between web browsers or mobile apps without additional plugins, drives the market.
The SNS Insider report forecasts a significant surge in the Web Real-Time Communication (WebRTC) Market, set to exceed USD 121.6 billion by 2030 from its 2022 valuation of USD 6.4 billion. A remarkable compound annual growth rate (CAGR) of 44.5% is expected from 2023 to 2030.

Market scope:

The Web Real-Time Communication (WebRTC) market scope encompasses a transformative landscape driven by an open standard project facilitating peer-to-peer communication without additional plugins. Valued at USD 6.4 billion in 2022 and projected to reach USD 121.6 billion by 2030, it embodies robust growth prospects. WebRTC revolutionizes online interaction, enabling text chats, file sharing, video, and voice calls seamlessly within web browsers or mobile applications. Its cost-effective advantages, coupled with the webification of real-time communication, propel its adoption across industries. The market scope emphasizes its versatility in applications, spanning from enterprise meetings and collaboration to healthcare consultations, signaling a future where effortless, secure communication is the norm.

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Key Players:

The major key players in the Web Real-Time Communication Market are Plivo Inc., Plantronics, Inc., Oracle Corporation, tokbox Inc., ribbon Communications Operating Company, Inc., Avaya Inc., Dialogic Corporation, Twilio Inc., Cisco Systems, Inc., Quobis, and other players.

Market Dynamics & Analysis:

The market's growth is fueled by cost-effective benefits, increased business adoption, and the webification of communication. Rising smartphone use, especially in Asia-Pacific, coupled with improved internet infrastructure, amplifies market expansion opportunities. The integration of AI with WebRTC and its use in IoT presents promising growth avenues.
Enterprises leverage WebRTC for direct, plugin-free interactions, facilitating internal and external meetings via web browsers, reducing communication costs significantly. Businesses like SAP embed rich communications into their software, streamlining workflows and enhancing real-time collaboration.

Segment Dominance and Growth Drivers:

In the market segments, solutions hold the highest share, driven by the escalating demand for advanced APIs for real-time communication integration. Video calling & conferencing within solutions witnesses the fastest CAGR due to the emphasis on high-quality solutions. Service segments thrive due to technical assistance benefits.
Smartphones & tablets lead in WebRTC-enabled devices owing to their widespread usage and support for WebRTC via applications like Messenger and Hangouts.
The IT & telecom industry dominates verticals, with healthcare poised for the highest growth, streamlining patient appointments and consultations online.

Market Segmentation and Sub-Segmentation Included Are:

By Component:
• Solution
• Voice Calling
• Video Calling & Conference
• Message & File Sharing
• Others
• Services

By Web RTC Enabled Devices:
• Mobile
• Desktop
• Tablet
• Others

By Industry Vertical:
• BFSI
• IT
• Telecom
• Media
• Entertainment
• Healthcare
• Retail
• Manufacturing
• Government
• Others

Regional Insights:

North America leads in revenue due to robust infrastructure and tech giants' adoption. Asia Pacific emerges as the fastest-growing market, propelled by increasing internet users and healthcare needs. Advancements in regions like India and China contribute significantly.

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Key Takeaways:

• Business Transformation: WebRTC fosters cost-effective, seamless communication, empowering businesses globally.
• Industry Revolution: Healthcare and IT sectors witness revolutionary changes, enhancing accessibility and efficiency.
• Global Expansion: North America's tech leadership and Asia Pacific's rapid adoption drive the market's global reach.

Recent Developments:

• Microsoft and Cisco alliance enables native Teams integration on Cisco devices, revolutionizing communication experiences.
• IWK Health leverages Cisco Webex for NICU family support, showcasing the impact of WebRTC in healthcare.
• Cisco and Celcom's AI-powered SDN infrastructure enhances service provisioning, emphasizing its scalability.

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Table of Contents:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Web Real-Time Communication Market Segmentation, by Component
9. Web Real-Time Communication Market Segmentation, by Web RTC Enabled Devices
10. Web Real-Time Communication Market Segmentation, by Industry Vertical
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

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