Web Real-Time Communication Market: Current Analysis and Forecast (2022-2028)
Emphasis on Components (Solutions and Services); Application (Into It & Telecom, BFSI, Government & Defense, Healthcare, Retail, and Others); and Region/Country
Global web real-time communication Market is expected to grow at a significant rate of around 40% during the forecast period. WebRTC (web real-time communication) is a free open-source project that provides real-time communication (RTC) to web browsers and mobile applications through an application programming interface (API), it directly enables peer-to-peer communication with audio and video communication within your website without the need to install plugins or downloading native apps. The increasing adoption of web real-time communications is primarily due to the webification of communications and the growing demand for web real-time communications solutions from SMBs (Server Message Block) are also expected to influence the market growth. Additionally, the growing demand for secure and robust communication and the increasing use of online platforms for shopping has propelled the interest in mechanisms that provide continuous data to retailers and customers, which is expected to drive the market during the forecast period. For instance, according to Oberlo, there are more than 2 billion digital buyers around the world.
apidaze.io, Avaya Inc, Cisco System Inc, Dialogic Corporation, Oracle Corporation, Plivo Inc, Quobis, Ribbon Communications Operating Company Inc, Temasys Communications and Twilio Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst component, solutions category to hold significant share during the forecast period”
Based on components, the market is segmented into solutions and services. The solutions category is expected to achieve a significant share of the webRTC market. The growing adoption of WebRTC solutions is mainly attributed to the growing trend of work-from-home culture. Furthermore, RTC solutions are cheaper communication tools. Moreover, there is a growing demand for advanced APIs to embed real-time communication in browsers. The RTC has features such as video calling and conferencing audio calling and conferencing, messaging and file sharing, and others these factors are very beneficial for any organization, which is also expected to propel the market during the forecast period.
“Amongst application, the IT and Telecom segment to hold a significant share in the market in 2020”
Based on application, the market is segmented into IT & telecom, BFSI, government & defense, healthcare, retail, and others. The IT & telecom segment is expected to achieve a significant share in 2020. Telecom companies are rethinking traditional telecom services and developing new solutions to meet current telecom trends. Furthermore, the growing complexities in the IT sector require IT engineers to be in constant communication with the team for better work efficiency. These factors are expected to drive the market during the forecast period.
“North America to hold a significant share in the market”
The North American region is expected lead the WebRTC market during the forecast period. The presence of major market players such as oracle, cisco, avaya Inc, etc. Furthermore, the growing number of SME’s in the region is also expected to drive the market in the region during the forecast period. Moreover, increasing demand for virtual conferencing, coupled with high-speed internet connections, is a major driver of market growth in the region. Additionally, companies in the region are early adopters of new technologies that support market growth.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global web real-time communication market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Web Real-Time Communication Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global web real-time communication market were the three major steps undertaken to create and analyze the adoption of web real-time communications in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global web real-time communication market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the web real-time communication market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the web real-time communication market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Web Real-Time Communication market. Further, we conducted factor analysis using dependent and independent variables such as component and application of web real-time communications. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the web real-time communication market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global web real-time communication market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the web real-time communication market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global web real-time communication market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global web real-time communication market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component and application in the global web real-time communication market.
The main objective of the Global Web Real-Time Communication Market Study
The current & future market trends of the global web real-time communication market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the web real-time communication market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of component and application.
- Define and analysis of the regulatory framework for the web real-time communication
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the web real-time communication market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the web real-time communication market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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