Web real time communication (webRTC) market to grow by USD 66,579.72 million from 2022 to 2027; ALE International, Alphabet Inc. emerge as key contributors to growth
News provided by
08 Aug, 2023, 11:30 ET
Share this article
NEW YORK, Aug. 8, 2023 /PRNewswire/ -- The latest report on web real time communication (webRTC) market, 2022-2027 estimated to register an incremental growth of by USD 66,579.72 million, almost at a CAGR of 48.89% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The growing popularity of video and audio conferencing is a major factor notably driving the web real-time communication (webRTC) market growth. Voice and video conferencing play a crucial role in enhancing communication and collaboration between businesses and their employees, partners, and customers. Also, with WebRTC, clients can utilize microphones and webcams to connect and interact through a peer-to-peer data channel. Furthermore, the demand for video and voice conferencing is on the rise, with over 70% of B2C marketers and 90% of B2B marketers utilizing videos for marketing purposes. This increasing demand for video and voice conferencing is expected to drive the growth of the Web Real-Time Communication Market during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report
Web Real Time Communication (webRTC) Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The web real-time communication (webRTC) market report covers the following areas:
Web Real Time Communication (webRTC) Market 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ALE International, Alphabet Inc., Anthology Inc., Apple Inc., AT and T Inc., 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, Twilio Inc., and Avaya Inc. are among some of the major market participants.
Company Offerings
What`s New for 2023?
Web Real Time Communication (webRTC) Market 2023-2027: Market Dynamics
Key Trends
Increasing adoption of bring-your-own-device (BYOD) is an emerging webRTC market trend. BYOD encourages employees to bring their own devices to workplaces and over one-third of the employers in the world provide devices, such as smartphones and tablets, to their staff. Furthermore, over half of employers around the world encourage employees to bring their own devices to work.
Additionally, WebRTC solutions emphasize the lower-end processing power of a smartphone. This is required to send multiple signals to the users in a conversation. Hence, such trends fuel the growth of the webRTC market during the forecast period.
Major Challenges
The lack of high-end video conferencing features challenges the growth of the webRTC market. As WebRTC technology is in the nascent stages, it lacks a few high-end video conferencing features. Furthermore, WebRTC faces central processing unit (CPU) overload issues as the processor decodes encodes, and dispenses video and audio at the same time.
However, in cellular phones, the CPU stress (caused by numerous applications) leads to battery drain issues. Hence, such challenges impede the growth of the webRTC market during the forecast period.
For more details understanding of Market Dynamics download Sample reports
Web Real Time Communication (webRTC) Market 2023-2027: Segmentation
Web Real Time Communication (webRTC) Market is segmented as below:
The market share growth by the video segment will be significant during the forecast period. WebRTC solutions enable users to engage in video conferencing through instant streaming feeds without the need to download additional software or plugins. Such technology offers reliable and high-quality video conferencing capabilities, and it is commonly utilized for integrated video calls on web or mobile applications. Additionally, WebRTC video conferencing relies on three HTML APIs (getUserMedia, RTCPeerConnection, and RTCDataChannel) that are integrated into the browser, allowing for video and audio capture, user identification, and streaming data transmission to other browsers. WebRTC video conferencing solutions offer superior, secure, and cost-effective video conferencing facilities compared to alternative options available in the market. Hence, such advantages will drive the growth of the segment in the forecast period.
For insights on global, regional, and country-level parameters with growth opportunities, historic market data (2017 to 2021) & forecast market size (2023-2027) – Download a Sample Report
Web Real Time Communication (webRTC) Market 2023-2027: Key Highlights
Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Related Reports:The RTLS in healthcare market size is estimated to grow at a CAGR of 23.28% between 2022 and 2027. The market size is forecast to increase by USD 3,273.72 million. This RTLS in healthcare market report extensively covers market segmentation by technology (RFID, WiFi, UWB, BLE, and others), component (hardware, software, and services), and geography (North America, Europe, Asia, and Rest of World (ROW)). One of the key factors driving the Real Time Location Systems (RTLS) for Healthcare market growth is the need for improved patient safety.
Global Web Application Firewall Market size is estimated to grow at a CAGR of 18.76% between 2022 and 2027. The size of the market is forecast to increase by USD 6,895.11 million. This web application firewall market research report extensively covers market segmentation by deployment (on-premise and cloud), end-user (e-commerce, BFSI, government, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing number of cyber threats is notably driving market growth.
Web Real Time Communication (webRTC) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 48.89%
Market growth 2023-2027
USD 66,579.72 million
Market structure
Fragmented
YoY growth 2022-2023(%)
48.25
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 35%
Key countries
US, Canada, India, UK, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
ALE International, Alphabet Inc., Anthology Inc., Apple Inc., AT and T Inc., 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, Twilio Inc., and Avaya Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
Contact
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com
SOURCE Technavio
Technavio