Market Research Report
Global Web Real-Time Communication Market Size study, by Component, by WebRTC-Enabled Devices, by Industry Vertical and Regional Forecasts 2020-2027
|Published by||Bizwit Research & Consulting LLP||Product code||956269|
Delivery time: 2-3 business days
|Global Web Real-Time Communication Market Size study, by Component, by WebRTC-Enabled Devices, by Industry Vertical and Regional Forecasts 2020-2027|
|Published: August 28, 2020||Content info:||
Global Web Real-Time Communication (WebRTC) Market Size study, by Component (Solution, Services), by WebRTC-Enabled Devices (Mobile, Desktop, Tablet, Others), by Industry Vertical (BFSI, Retail, IT & Telecom, Media & Entertainment, Manufacturing , Healthcare, Others) and Regional Forecasts 2020-2027.
Global Web Real-Time Communication (WebRTC) Market is valued at approximately USD 2.75 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 41.7% over the forecast period 2020-2027. Web real-time communication or WebRTC is an open-source application programming interface (API) that offers real-time capabilities to mobile applications & browsers. The use of WebRTC is adaptable across distinct system conditions and is also interoperable with Voice over Internet Protocol (VoIP) or Unified Communications (UC). It usually facilitates seamless coordination & communication in organizations through their existing framework. It further enables users with video chat, voice calling, and peer-to-peer file allocation between browsers without the help of any external plugin. Also, the insertion of RTC into web applications reduce cost and provide a better user experience, as the requirement for installing additional plugins is removed, which is likely to drive the market growth. Furthermore, the rise in penetration of the internet and smartphone, increasing ICT spending in the developing nations, and the rise in adoption of WebRTC technology among enterprises are the few factors responsible for the CAGR of the market during the forecast period. As per the International Telecommunication Union (ITU), in 2019, internet penetration was estimated at 53.6% of the global population, indicating an increase from 51.4% since 2018. Also, according to PubMatic, around 3.04 billion mobile internet users of the global population were reported in 2018 and is projected to grow to almost 3.71 billion by the year 2022. It is also estimated that China has the largest internet users with around 765.37 million of the country's population in 2016 that is reached to 829 million in 2019 (as of March). This, in turn, is expected to strengthen the market growth all over the world. However, the dearth of universal standard and rise in data security & privacy concern are the few major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Web Real-Time Communication (WebRTC) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in technological advancements in WebRTC technology, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rising demand for high-speed internet connectivity and increasing usage of web-based audio and video communication would create lucrative growth prospects for the Web Real-Time Communication (WebRTC) Market across the Asia-Pacific region.
Major market player included in this report are:
Cisco Systems, Inc.
Ribbon Communications Operating Company, Inc.
TokBox Inc. (Vonage)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By WebRTC-Enabled Devices:
By Industry Vertical:
IT & Telecom
Media & Entertainment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Web Real-Time Communication (WebRTC) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers