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Web Real-Time Communication (WebRTC) Market Size by Component (Solution [Voice Calling & Conferencing, Messaging & File Sharing, Video Calling & Conferencing], Service), By Enterprise Size (Large Enterprise, SMEs), By Application (IT &Telecom, BFSI, Government & Defense, Healthcare, Retail, Media & Entertainment), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5132
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Drivers

Web Real-Time Communication Market size valued at USD 4 billion in 2022 and is projected to observe more than 40% CAGR from 2023 to 2032. Growing demand for WebRTC solutions across SMEs is a crucial factor facilitating the industry expansion.
 

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The service allows companies to integrate video and audio within the current business code. This integration involves bringing together phones, social media, chat, voicemail, email, and any other communication channels used by an enterprise. Prominent companies, such as LogMeIn, Inc., Cisco Systems, Inc., and Microsoft Corporation, etc., are also offering a comprehensive suite of WebRTC services. In May 2021, Quickchannel launched WebRTC on its video platform, which allows users to live stream secure, branded, and high-quality video.
 

Rising concerns of interoperability across web browsers may hamper the market growth

Some of the major drawbacks faced by enterprises while implementing WebRTC technology or building a video & voice web app are interoperability issues with other platforms, protocols, and legacy systems. In addition to giving companies the freedom to innovate and offer consumers multiple choices of communication, the lack of standardization offers more work for developers and designers. Thus, the rising importance of interoperability in the implementation of WebRTC technology can restrict the industry progression.
 

Burgeoning need for innovations in the telecom industry to drive adoption of WebRTC solutions

The WebRTC market share from the solution component segment is expected to depict more than 43.5% CAGR through 2032. The compatibility of WebRTC solutions across Unified Communication and Collaboration (UCC) and VoIP apps is a key force accelerating the market demand. WebRTC has emerged as one of the most significant drivers of telecom innovation, along with IoT and browser communications. Given the open-source foundation of WebRTC, the development of numerous real-time communication solutions is feasible. In January 2022, for instance, CP Communications launched the Virtual Media Center and the secure video management platform, FastReturn, both of which are based on WebRTC.
 

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The industry share from the messaging & file sharing solution segment is poised to witness 41% CAGR till 2032. The technology offers instant file sharing and real-time messaging to its customers, which includes live private chats, live group chats, and offline chat facilities. Prominent businesses across the globe are creating and hosting videos on their websites for brand recognition, promotion, and building strong relationships with consumers. Rising need for secure and robust data transfer facilities is also likely to favor the demand for WebRTC-based messaging and file sharing for business and communication.
 

Increasing preference for optimized profitability by large enterprises to drive WebRTC demand

Large enterprises are likely to capture over 70% of the global WebRTC industry share through 2032. WebRTC provides internet services to large organizations, simplifies internal communication, and improves customer support. To properly experience WebRTC technology, several organizations are introducing WebRTC-as-a-service. External parties can be invited to web conferences through the internet without the need to install any plugins or applications. This minimizes opposition and makes meetings more productive, allowing large corporations to run their operations more easily and profitably.
 

Rising capitalization on improved online surfing in the retail industry to boost WebRTC demand

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The global market for web real-time communication (WebRTC) valued at USD 4 billion in 2022 and is projected to observe more than 40% CAGR through 2032, owing to the rising demand across SMES.
The messaging & file sharing solution subsegment is expected to witness over 41% CAGR through 2032, driven by the of the rising popularity of real-time messaging, including live private chats, live group chats, and offline chat facilities.
The market for WebRTC in Europe is expected to grow with a 44% CAGR through 2032, owing to the increased acceptance of online shopping platforms in the region.
Some of the renowned firms operating in the market are Cisco System Inc., Avaya Inc., Oracle Corporation, Dialogic Corporation, and others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 299
  • Countries covered: 22
  • Pages: 200
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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