From 2024 to 2032, the global market for web real-time communication is anticipated to expand at a CAGR of 42%. Web real-time communication, or WebRTC, is an open-source initiative that provides real-time communication capabilities via simple APIs to browsers and mobile applications. As WebRTC is adaptable to various system conditions and is interoperable with Unified Communications (UC) or Voice over the Internet (VoIP), it facilitates coordination and communication within an organization's existing framework, which is expected to stimulate market growth. The cost-effective advantages of WebRTC technology, the webification of real-time communication, and the rise in enterprise adoption of WebRTC technology are among the key factors driving the expansion of the global web real-time communication market. In addition, an increase in ICT expenditures in developing nations, a rise in smartphone usage, particularly in Asia-Pacific, an increase in internet connectivity, and the development of the required internet infrastructure in Asia-Pacific and Africa all contribute to the market's expansion. The growth of the web real-time communication market is anticipated to be hampered by a lack of universal standards and rising security and privacy concerns. The integration of artificial intelligence (AI) with WebRTC, the proliferation of the bring-your-own-device (BYOD) trend, and the rising use of WebRTC for the Internet of Things (IoT) provide lucrative growth opportunities for the global WebRTC market over the forecast period.
The solutions segment dominated the web real-time communication market based on components in 2021, and this trend is anticipated to continue throughout the forecast period. This is due to benefits such as eliminating the need for additional plugins or downloads, complete utilization of HTML5, JavaScript, and advanced API to embed real-time communication in the users' browsers, reduction in business costs; adoption of the cloud platform; development of universal standards by the W3 Consortium; and a rise in demand for video conferencing, staff meetings, and BYOD applications, which drives the growth of WebRTC solutions. According to the industry vertical, it is anticipated that the healthcare sector will exhibit the highest growth rate for the global WebRTC market over the forecast period. This is a result of the increasing popularity of telemedicine and fitness apps, as well as the incorporation of audio/video calling features into hospital websites for remote patient consultation.
WebRTC solutions are cost-effective because they do not require the installation of additional plugins or software for effective communication. WebRTC enables any web server to offer an exclusive real-time communication experience with high dependability, simplicity, and low cost. WebRTC enables browser-based applications to simulate user interactions in real-time. In addition, it offers secure web-based communication at lower costs and with a variety of benefits, including simple deployment across multiple operating systems and device types, among others. These substantial advantages have enabled WebRTC technology to gain significant traction among small and medium-sized businesses.
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The "webification" of real-time communications (RTC) is the incorporation of communications into web pages, making them accessible on any screen. There are an increasing number of applications that enable voice/video real-time communication between two browsing windows without the need for additional plugins such as Flash, Java, or others. WebRTC enables web developers to create collaborative audio, video, chat, and data applications without the need for voice-over-IP or telecommunications. The webification of RTC enables immediate access to a person's communication in order to complete a task, as well as a broader context that makes communication more efficient and productive.
The application of Artificial Intelligence (AI) to WebRTC and real-time communications is fascinating. Callstats.io, for instance, employs one such use case for WebRTC error detection and forecasting. Moreover, AI combined with WebRTC is useful for object detection and segmentation when creating Instagram or Snapchat filters. Multiple WebRTC-based applications can utilize AI to guarantee Quality of Service (QoS) and enhance customer service. In addition, according to a 2018 survey conducted by WebRTC. ventures, 39% of developers had integrated or planned to integrate a WebRTC application into an embedded device. Consequently, it is anticipated that the integration of AI with web real-time communication will create lucrative opportunities for the market for web real-time communication.
In 2023, the solutions segment held 75% of the market, and it will grow at a steady CAGR from 2024 to 2032. The substantial share is attributable to the growing demand for advanced APIs to embed real-time communication in browsers. The solutions segment is further subdivided into video calling & conferencing, voice calling & conferencing message & file sharing, and other categories. Video calling & conference is expected to grow at the highest CAGR during the forecast period, as market participants focus on developing high-quality video conferencing solutions to meet rising demand.
The services segment is anticipated to have the highest CAGR in excess of 47% between 2024 and 2032. Choosing the technical assistance and services offered by WebRTC providers allows businesses utilizing WebRTC solutions to focus on their core business without worrying about technical issues. The services offered by WebRTC service providers include technical support, training, and interconnection. The service offerings allow customers to rely on solution providers for any assistance they may require. In addition, the lack of technical knowledge among users is anticipated to increase the demand for training and technical services.
In 2023, the segment of smartphones & tablets held a 72 percent market share and will continue to dominate throughout the forecast period. Increasing smartphone adoption is a significant contributor to the substantial revenue share. The use of mobile applications powered by WebRTC is expected to sustain the segment's growth over the forecast period. Facebook Inc. and Google LLC have already released mobile applications based on WebRTC, including Messenger and Hangouts. Additionally, the Android operating system has built-in support for WebRTC via Chrome, which is utilized by the vast majority of smartphones. Thus, increasing smartphone penetration is directly proportional to overall segment growth.
During the forecast period, it is anticipated that the market for personal computers will expand at a significant CAGR. WebRTC browsers, such as Google Chrome, Mozilla Firefox, Opera, and Safari, enable real-time communication on desktops, laptops, and other devices. In addition, the demand for video conferencing solutions is rising across a variety of industry verticals, such as IT & telecom, retail, and BFSI, with PCs as the preferred method of online business communication. Travel time and associated costs are eliminated by video conferencing, allowing businesses to make quicker business decisions.
In 2023, the IT & telecom industry held 35% of the market. The telecommunications industry has already been disrupted by the Internet and application ecosystems. With the proliferation of Voice over Internet Protocol (VoIP) and social networks, internet-based real-time communication has become essential. Companies in the telecommunications industry are reassessing their traditional communication services and developing new ones to accommodate the current trends in communication. During the forecast period, the healthcare segment is anticipated to grow at a CAGR greater than fifty percent. This increase is a result of the increasing adoption of telehealth platforms to improve patient engagement and reduce additional costs. Due to the fact that patients prefer to meet their healthcare providers regardless of their location, video conferencing has become an indispensable component. Healthcare organizations are considering telehealth to meet patients' rising technological expectations.
Due to the growth of WebRTC applications in the telecom & IT, BFSI, and retail sectors, the presence of a large number of WebRTC vendors, the introduction of innovative WebRTC products, and the high adoption of IoT solutions, North America held a 42% revenue share of the web real-time communication market in 2023. The dominance is anticipated to persist throughout the forecast period. This is due to the presence of major market players, such as Cisco Systems, Inc., Oracle Corporation, Ribbon Communications Operating Company, Inc., and Avaya Inc. The combination of rising demand for virtual meetings and high-speed Internet connectivity is a significant factor in the market expansion of this region. In addition, this region's businesses are early adopters of emerging technologies, which will contribute to market growth. Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period. This is due to the increasing number of internet users in developing countries such as India and China. According to the World Bank, 34.45% of India's population had access to the internet in 2017, up from 22% in 2016. Moreover, digitalization in the region is anticipated to generate substantial market growth potential during the forecast period.
Market participants are concentrating on the introduction of new products in order to expand their product lines and increase their market share. For instance, in March of 2020, Ribbon Communications Operating Company, Inc. announced the launch of its cloud-based "Work@Home" offerings to provide advanced remote working capabilities to enterprises. The offerings include a comprehensive Unified Communications and Collaboration solution with Ribbon's smart office, which includes an HD video whiteboard, screen sharing, conferencing, and desktop, and mobile group chat.
Market participants are also emphasizing inorganic strategies, such as mergers and acquisitions, to gain a competitive advantage. In September 2019, for example, Cisco Systems, Inc. announced the acquisition of Voicea, a provider of real-time solutions. The acquisition was intended to expand Cisco System Inc.'s Webex portfolio with transcription services that combined automatic speech recognition and artificial intelligence (AI). Therefore, product differentiation and strategic alliances are the primary strategies employed by market leaders. Companies such as Apidaze, Avaya, Inc., Cisco Systems, Inc., Dialogic Corporation, and Oracle Corp. are prominent in the market for web-based real-time communication.
