DataCube Research offers market analysis, trends, future outlook, market size, and forecast for Web Real-Time Communication (WebRTC) Market in its report titled “Web Real-Time Communication (WebRTC) Market: Global Industry Analysis, Size and Forecast, 2019-2031"
The global WebRTC market has been classified on the basis of type, deployment type, service, application, vertical, and region. By type, the WebRTC market has been segmented into software and service. In 2021, the solution segment occupied more than XX% share of the total pie; however, it is projected to lose its dominance to the service segment by 2031.
Browse Full Report: Web Real-time Communication (WebRTC) Market | Analysis 2019-2031
The service segment has been sub-segmented into implementation service, consulting service, integration service, software/application development service, and maintenance service. Among services, the software/application development service segment is projected to expand at the highest CAGR during the forecast period.
On the basis of deployment, the WebRTC market has been further sub-segmented into public cloud, private cloud, and hybrid cloud. Currently, the public cloud segment is dominating the market with over half of the overall market share.
Application wise, the global web real-time communication market has been segmented into social networking, gaming, voice calling, video conferencing, and other. Among these, video conferencing is the fastest growing segment, 2019-2031.
Vertical includes BFSI sector, public sector, manufacturing sector, transportation & logistics sector, healthcare sector, media & entertainment sector, IT & telecom sector, retail sector, and energy & utility sector. BFSI sector dominated the WebRTC market in terms of revenue share in 2021.
While studying and analyzing the current and future scope of Web-based real-time communication solutions and services among different verticals across geographical territories, DataCube has identified major end-user verticals such as BFSI, retail, and IT & telecom sectors are investing a substantial amount. This enables organizations operating in these sectors to offer enhanced real-time customer interaction services at all touch points.
In addition, rapid growth in the social media and internet users and widening application area of WebRTC-enabled solutions and services are major drivers, propelling the growth of the WebRTC market across the globe. In contrast, lack of efficient connectivity infrastructure and awareness especially in developing regions such as the Asia Pacific and Latin America is expected to limit growth of the WebRTC market to some extent during the forecast period.
The global web real-time communication market report offers detailed analysis and insights on the growth potential of the WebRTC market and covers trends, various driving factors, and restraints that can affect the overall market growth during the forecast period.
By region, the WebRTC market has been segmented into North America, Western Europe, Japan, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, and Middle East & Africa (MEA). In terms of spending on web-based real-time software and services, North America and Western Europe collectively accounted for more than XX% share of the global WebRTC market in 2031. Also, these regions are projected to remain dominant by the end of 2031. However, APEJ is anticipated to create huge growth opportunities for key players offering real-time communication solutions and services. This is attributed to the increasing demand for enhanced WebRTC solutions and services from end-user verticals across the region.
WebRTC Market Competition Analysis
Prominent players operating in the WebRTC market consistently invest substantial amounts in research and development activities so as to ensure product innovation and continuous advancement in its technological capabilities. In addition, the acquisition of leading cloud-based solutions and service providers is another major strategy followed by key players. Major players operating in the web real-time communication market include AT&T Inc., Cisco Systems Inc., Ericsson, Plivo Inc., Twilio Inc., Mitel Networks Corporation, Huawei Technologies Co. Ltd., TokBox Inc., IBM Corporation, Avaya Inc., and Google Inc.