Web Real-Time Communication (WebRTC) Market

Industry Overview

The Global Web Real-Time Communication Market is expected to reach USD 128 billion in 2030 from USD 6 billion in 2023 at a CAGR of about 41.9% during the forecast period.

WebRTC or Web Real-Time Communication market implies the technologies and industries related to real-time communication over the web using standardized APIs and web protocols. The technology helps in improving video, audio, and data communication without additional software or plugin installation. The technology has become popular across a wide array of industries and allows diverse applications, such as video conferencing, voice calling, live streaming, peer-to-peer file sharing, and more.

Over the years, the WebRTC market has grown significantly due to the rise in demand for effective communication solutions by large and small enterprises as well as easier access and availability of broadband internet. It helps in improving employee engagement strategies and real-time communication.

Social media sites also contribute to the growth of this market significantly since WebRTC allows smoother communication exchanges.

Market Segmentation

Insight by Product Type

According to the product, the WebRTC market is divided into services and solutions.

The services segment is expected to grow at a faster rate during the forecast period due to the outsourcing of WebRTC services by different enterprises to reliable third parties. This sector is further divided into consulting, implementation, and integration services.

As for the solution segment, it is further subdivided into video calling & conferencing, voice calling & conferencing, messaging & file sharing, and more. Out of all these categories, the video calling and conferencing category is expected to grow faster than the others during the forecast period. This is because it helps large enterprises to conduct remote meetings and manage their operations more effectively.

Insight by Vertical

According to the different industry verticals, the WebRTC market is divided into BFSI, IT, telecom, media & entertainment, healthcare, retail, consumer goods, education, public sector, transportation, logistics, and more.

Among all these, the healthcare segment is expected to grow rapidly during the forecast period due to its higher demand for WebRTC solutions and services. This helps in the proper utilization of digital services and remote consulting through improved communication, messaging, and channeling data insights and consolidated clinical information more accurately.

Global Web Real-Time Communication (WebRTC) Market Report Coverage

Industry Dynamics

The technology facilitates realistic and real-time communication and easy monitoring. This helps in extracting valuable information despite the challenges posed by Voice over Internet Protocol (VoIP). The adoption of this technology helps businesses to enhance their productivity and communication to offer a unified user experience. This makes the WebRTC industry more dynamic and offers significant growth potential.

Growth Drivers

The most important factors for the growth of the WebRTC market include the growing demand for real-time communication with better web solutions both from large and small enterprises. This helps them to stay competitive and maintain their global presence due to collaboration and mobility.

Another significant factor is the rise in remote work, which needs a reliable and efficient communication tool. WebRTC offers such convenience in communication through team collaboration, video conferencing, and virtual meeting support.

The need for efficient cloud-based services to improve communication infrastructure is another factor for the growth of the WebRTC market since it allows scaling communications without needing to invest in expensive hardware and equipment.

The development of mobile apps has also been significant due to WebRTC, fueling its market expansion and allowing better performance in video calling, messaging, and more. It has also helped the IoT domain significantly by facilitating remote monitoring, device-to-device communication, and control.

Finally, developments in WebRTC technology and standardization of its security, performance, and interoperability through the World Wide Web Consortium (W3C), Internet Engineering Task Force (IETF), and other organizations have also contributed to the growth of the WebRTC market.

Opportunity

Web real-time communication applications facilitate enterprise mobility and create more opportunities across the globe. It helps organizations work more efficiently and offers flexibility to remote working. The use of internet connectivity and smartphones allows workers to work efficiently and organizations to enforce better employee engagement strategies.

Today, more opportunities are created due to the increased adoption and use of smart devices to interact conveniently among business enterprises. This technology has eliminated distractions from the equation and therefore has become the most favored medium for both organizations and employees in terms of interaction.

Geographic Overview

North America is the largest contributor to the WebRTC market. This is mainly due to its higher adoption and implementation of the latest technologies. In addition, higher penetration of internet-based services, and the initiatives of the major players in the industry to promote better real-time communication influences the growth in this region. All these reduce the cost of operation and increase the efficiency and business functioning, two important factors for growth in this region.

The Asia-Pacific region is also expected to witness higher and faster growth in the forecast period due to growing opportunities, and increased adoption of advanced technologies.

Competitive Insight

Some of the major players offering the products and services in the global web real-time communication industry are AT&T Inc., Tokbox Inc., Apidaze, Avaya, Inc., Cisco Systems, Inc., Genband Inc., Dialogic Corporation, Polycom, Inc., Oracle Corporation, Twilio, Inc., Quobis and Cafex Communications, Inc.

Recent Devlopment by Key Players

AT&T and Comcast collaborated to unlock a massive wave of collaborative innovation in Cloud, Edge and AI across every industry from logistics, agriculture, power generation to manufacturing and medicine. The Lab also welcomes its largest cohort with 17 multi-stage, global startups joining Batch #8 Fall Program.