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Web Real-Time Communication (WebRTC) Market Trends

Report ID: GMI5132
Published Date: Feb 2024
Report Format: PDF

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Web Real-Time Communication Market Trends

The WebRTC industry has witnessed significant technological advancements. 5G network technologies will provide newer possibilities for WebRTC services, especially for remote enterprise communication systems. With the use of 5G technology, there is a fundamental change in how bandwidth is used.

In the present-day 4G technology, a fixed bandwidth is assigned in each direction by a network provider, regardless of the traffic being handled. With 5G technology, adjustments can be made so if congestion occurs in one direction, bandwidth from the other direction can be utilized through a combination of software and hardware. As more devices are connected every year, this ability to adjust bandwidth allocation ‘on the fly’ and increase range & speed will become increasingly important.

For instance, in January 2022, Google made a strategic investment of approximately USD 1 billion in Bharti Airtel, acquiring a 1.28% stake for USD 700 million. This investment strengthened the collaboration between the tech giant and the telecom company, potentially facilitating advancements in digital connectivity, services, and telecommunications infrastructure.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of WebRTC reached USD 6 billion in 2023 and is set to witness 35.5% CAGR between 2024 and 2032, propelled by increased adoption of smartphones and tablets around the globe and the subsequent demand for seamless & instantaneous communication.

The solutions component segment recorded around 75% of the market share in 2023, owing to their ability to provide pre-built functionality and customization choices, making development and deployment easier for enterprises.

North America market held over 36% of the market share in 2023, due to its modern telecommunications infrastructure, high internet penetration, and wide adoption of digital communication solutions.

Agora Lab, Inc., Avaya Inc., Cafex, Cisco System, Inc, Dialogic Corporation, Enghouse Systems Limited, Google, Oracle Corporation, Oxagile, Plivo Inc. Industries are some of the major industry contenders.