Web Real Time Communication (WEBRTC) Market size is set to grow by USD 185.61 billion from 2024-2028, Rising demand for easy-to-use RTC solutions boost the market, Technavio
NEW YORK, June 27, 2024 /PRNewswire/ -- The global web real time communication (WEBRTC) market size is estimated to grow by USD 185.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 66.71% during the forecast period. Rising demand for easy-to-use RTC solutions is driving market growth, with a trend towards combination of webrtc and iot sensors. However, lack of high-end video conferencing features poses a challenge. Key market players include ALE International, Alphabet Inc., Anthology Inc., Apple Inc., AT and T Inc., Avaya LLC, CafeX Communications Inc., Cisco Systems Inc., Enghouse Systems Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Oracle Corp., Plivo Inc., Quobis Networks SLU, Ribbon Communications Inc., SANGOMA TECHNOLOGIES CORP., Telefonaktiebolaget LM Ericsson, and Twilio Inc..
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Web Real Time Communication (Webrtc) Market Scope
Report Coverage
Details
Base year 2023
Historic period
2018 - 2022
Forecast period
2024-2028
Growth momentum & CAGR Accelerate at a CAGR of 66.71%
Market growth 2024-2028
USD 185610.8 million
Market structure
Fragmented
YoY growth 2022-2023 (%) 52.91
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market
contribution North America at 35%
Key countries
US, UK, India, Canada, and Germany
Key companies profiled ALE International, Alphabet Inc., Anthology Inc., Apple Inc., AT and T Inc., Avaya LLC, CafeX Communications Inc., Cisco
Systems Inc., Enghouse Systems Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft
Corp., Mitel Networks Corp., Oracle Corp., Plivo Inc., Quobis Networks SLU, Ribbon Communications Inc., SANGOMA
TECHNOLOGIES CORP., Telefonaktiebolaget LM Ericsson, and Twilio Inc.
Market Driver
WebRTC market growth is driven by the integration of Internet of Things (IoT) and sensors in applications. These sensors, acting as remote cameras or microphones, provide data to enhance audio and video. Motion detectors trigger picture-taking or live viewing/recording. Temperature sensors use WebRTC data channels for alerts and visual verification. Home security systems and visual checks are additional benefits.
The Web Real Time Communication (WebRTC) market is experiencing significant growth, driven by the increasing demand for real-time video and audio communication in various industries. Companies are implementing this technology to improve customer service, enhance collaboration, and provide innovative solutions. The use of VoIP and video conferencing in WebRTC is on the rise, allowing for more effective and efficient communication. Additionally, the integration of call recording, screen sharing, and chat functionalities is adding value to the market. The customizability and ease of implementation of WebRTC are also contributing factors to its popularity. Overall, the WebRTC market is a dynamic and innovative space, with applications in education, healthcare, finance, and more.
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Market Challenges
-- WebRTC technology offers real-time communication freedom through
open-source projects. However, its growth may be challenged due to
limitations in high-end video conferencing features. With the rise of
Internet-supported devices, CPU overload issues arise, affecting video
and audio quality and file sizes. In cellular phones, these issues lead
to battery drain. To address these concerns, advancements in CPU
capabilities and video compression techniques are essential for
enhancing WebRTC's functionality and user experience.
-- The Web Real Time Communication (WebRTC) market is experiencing
significant growth, with video conferencing and calling being its
primary applications. However, challenges persist in implementing this
technology. One major challenge is ensuring secure and reliable
communication between browsers. Another issue is interoperability
between different platforms and devices. Additionally, scalability and
cost-effectiveness are crucial factors for businesses adopting WebRTC.
Furthermore, integrating this technology with existing systems and
workflows can be complex. Lastly, ensuring high-quality video and audio
during real-time communication is essential but can be a challenge due
to varying network conditions.
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Segment Overview
This web real time communication (webrtc) market report extensively covers market segmentation by
1. Application
-- 1.1 Video
-- 1.2 Voice
-- 1.3 Data sharing
2. Platform
-- 2.1 Mobile
-- 2.2 Browser
-- 2.3 UC
3. Geography
-- 3.1 North America
-- 3.2 Europe
-- 3.3 APAC
-- 3.4 South America
-- 3.5 Middle East and Africa
1.1 Video- WebRTC is a technology enabling real-time communication through web browsers, eliminating the need for additional software or plugins for video conferencing. Built on HTML APIs like getUserMedia, RTCPeerConnection, and RTCDataChannel, it offers high-definition streaming with encryption for secure and affordable video conferencing. With over 2 billion Chrome browsers supporting WebRTC and its usage expanding to IoT devices, the market is poised for significant growth, reaching an estimated 30.9 billion devices by 2025. Key users include Snapchat for video calling.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The WebtRTC market is experiencing significant growth among Small and Medium Businesses (SMBs), as they seek cost-effective communication solutions beyond expensive proprietary systems used by established organizations. Data centers are essential for hosting WebtRTC applications, enabling voice calling and video calling functionalities. Voice over LTE (VoLTE), HD Voice, and Wi-Fi Calling are key features driving adoption, enhancing customer engagement and business interactions through various channels. Contact centers are increasingly leveraging WebtRTC for chat, voicemail, and voice calling, while WhatsApp API and other messaging platforms offer additional communication avenues. SMBs benefit from the flexibility and affordability of WebtRTC solutions, making it a valuable tool for modern business communication.
Market Research Overview
The Web Real-Time Communication (WebRTC) market refers to the technology and services that enable real-time, peer-to-peer communication via web browsers. This includes voice, video, and data transmission between devices without the need for intermediaries. The market is experiencing significant growth due to increasing demand for remote work and online collaboration solutions. Key features of WebRTC include its ability to adapt to changing network conditions, low latency, and secure communication. Applications of WebRTC span across various industries such as healthcare, education, finance, and gaming. The technology is also being used for real-time analytics, IoT device communication, and augmented reality experiences. The market is expected to continue growing as more businesses adopt real-time communication solutions to enhance productivity and customer engagement.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Application
-- Video
-- Voice
-- Data Sharing
-- Platform
-- Mobile
-- Browser
-- UC
-- Geography
-- North America
-- Europe
-- APAC
-- South America
-- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
