The Web Real time Communication Solution Market is expected to reach USD 9,324.4 million in 2023.
As per Future Market Insights, the is expected to register impressive growth at a 44.2% CAGR between 2023 and 2033, as enterprises around the world are exhibiting high demand for web real time communication solutions and services. The market is slated to reach USD 363,320.9 million by 2033.
| Attributes | Details |
|---|---|
| Web Real Time Communication Market Value (2022) | USD 6,538.9 million |
| Web Real Time Communication Market Value (2023) | USD 9,324.4 million |
| Web Real Time Communication Market Expected Value (2033) | USD 363,320.9 million |
| Web Real Time Communication Market Projected CAGR (2023 to 2033) | 44.2% |
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The global web real time communication solution market size is estimated to be valued at USD 9,324.4 million in 2023. The demand for web real time communication solution is expected to rise at a CAGR of 44.2% during the forecast period 2023 to 2033.
Web real time communication solution is an open source collection of application programming interface and communication protocols that facilitate real-time communication for mobile applications and web browsers.
It permits seamless communication across web pages by enabling real-time connection without the need for any additional installations or native apps.
Technological advancements have caused transition towards automation and consequently, the high demand for automated software management and tracking tools are expected to drive the growth of the market on a global scale. The global market is anticipated to witness growth in revenue from USD 9,324.4 million in 2023 to USD 363,320.9 million by 2033.
The increasing number of internet users is expected to positively impact the web real time communication solution demand over the forecast period.
According to the International Telecommunication Union, in 2019, more than 53% of the global population had access to the internet with a 2% rise from the previous year. The rising penetration of internet is estimated to drive the market growth.
The introduction of 5G technology is anticipated to aid broadcasting service providers to augment their business across personal broadcasting, educational broadcasting, and interactive advertising, in order to provide enhanced images with the help of web real time communication solutions and services.
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Companies operating in the market are delivering software solutions proactively, and are providing integration, support, maintenance, and consultation services to help end users maneuver through the ever-changing requirements.
With the deployment of cloud based and on-premises web real time communication solutions, companies operating in the market are helping small and medium enterprises and large enterprises to collaborate and eliminate the need to deploy expensive proprietary software solutions.
This allows the small and medium enterprises to deploy cost effective solutions while shifting from conventional communication solutions to modern user-centric business communication.
Companies have been working with software development teams to cater to their customization demands aimed at meeting their frequently-changing industry specific requirements.
According to the Future Market Insights analysis, the overall web real time communication solution spending in the United States alone is likely to increase at a rate of 42.8% between 2023 and 2033, with a market value of USD 1,213.2 million in 2023. The United states held a market share of 19.2% in 2022.
The United States will emerge as the largest market for the web real time communication solution in North America, due to the strong presence of service providers like Avaya, Google, Cisco Systems, and IBM Corporation.
This is attributed to the increase in demand for customized web real time communication solution across different industry verticals.
The rising penetration of smartphones and internet in the country also drives market growth. Growing demand for mobile apps and the rising necessity of webification of communication process is further anticipated to offer major growth opportunities to emerging and established players in the market.
The market in Germany is anticipated to be valued around USD 2,100 million by 2033. In recent years, many SMEs in European countries including the United Kingdom, France, and Germany have adopted web real time communication solutions and services owing to the growing popularity of cloud-based solutions.
The market for software development services in Europe is on the rise. Web real time communication solution vendors operating in the European market are focused on offering cost-effective and user-friendly WebRTC-based communication solutions which are industry-specific.
This is driving the demand for web real time communication solutions across different industry verticals such as IT & telecom, healthcare, and BFSI, among others.
The increasing sales of secure and robust communication are expected to boost the market.
It is also expected to gain from the increasing number development teams in the region and the rising demand for collaborations for projects to accelerate the solution delivery processes are likely to support growth. The Germany accounted for a market revenue of 8.9% in 2022.
According to the FMI analysis, the market for Web Real Time Communication Solution in China is likely to grow at a CAGR of 47.3% from 2023 and 2033, with a market value of around USD 289.8 million in 2023.
China, Japan and South Korea are creating potential growth opportunities for web real time communication solutions owing to the rising number of internet users coupled with growing popularity of social media across the region.
In the wake of this pandemic, there has been an increase in demand for digitization to run businesses across the globe. Growing need for web based real time communication for efficient functioning of businesses is further responsible for driving the growth of web real time communication solution and services market.
Moreover, the companies operating across China are focused on implementing digital technologies in order to resume business operations through 2023 and beyond.
The market in India is anticipated to witness a growth in revenue from around USD 100.3 million in 2022 to USD 8,466.7 million by 2033.
The demand for web real time communication solution has increased rapidly across various industry verticals in major economies of the South Asia and Pacific region including India and Australia and New Zealand, which has created key potential growth opportunities for the market.
In India, there has been a steady growth in the adoption of web real time communication solution in the fields of IT & telecom, BFSI, and healthcare, among other industries. The growth can be attributed to the increasing number of internet users in the region.
The demand for web real time communication solution is projected to show major growth as the small and large enterprises seek cost-efficient solutions and services. Furthermore, the India is expected to grow rapidly with a CAGR of 44.2% over the coming years.
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By component, the market is segmented into webRTC solution and services. The solution segment is further bifurcated into cloud based solutions and on-premises solutions.
The services segment is further classified into consulting services, integration & implementation services, design & development services, and support & maintenance.
Out of which, the services segment is anticipated to grow at the highest CAGR of 44.2% over the forecast period.
The growth of the segment can be attributed to the rising demand for various types of services being offered by the web real time communication solution providers, such as technical support, training, and interconnection, among others. Furthermore, service offerings help the customers to depend on the solution providers for any assistance required.
In terms of enterprise size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprises segment is expected to hold the largest share of the market accounting for a USD 2,018.9 million in 2020, while growing at a considerable CAGR of 43.8% between 2023 and 2033.
The growth of the segment can be primarily attributed to the growing need for better quality solutions and an increasing need for web real time communication solutions and services in large enterprises. However, small and medium enterprises segment is expected to grow at the highest CAGR of 45.4% over the forecast period.
In terms of end-use industries, the market is segmented as IT & telecom, BFSI, media & entertainment, healthcare, government, manufacturing, and others. With the growing popularity of internet and automation across all industries, there has been rise in demand for web real time communication solutions and services.
The IT and telecom industry segment is dominating the global web real time communication solution and it is estimated to account for 29% of the total market value share by the end of 2023.
With the growing popularity of Voice over Internet Protocol and social networks across the globe, there has been rise in demand for real-time communication over the internet as well.
Telecom companies operating in the market are reviewing their conventional communication services and are focused on developing new solutions in order to meet the current trends in the communication sector. The IT & Telecom Segment accounted for the maximum market share of 31.2% in 2022.
According to the Future Market Insights analysis, Avaya Inc., Google Inc., Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd., Ericsson, TokBox Inc., Mitel Networks Corporation, AT&T Inc., Plivo Inc., and Twilio, Inc., among others are identified as key players in the web real time communication solution landscape.
Companies offering web real time communication solution are aiming for innovation in their offerings and strategic partnerships with other software vendors in order to enhance their portfolios while addressing the demand of an expanding customer pool.
Introduction of new solutions and services and strategic partnerships are key with the top players in the web real time communication solution landscape.
Web real time communication solution providers are also focusing on entering into partnerships with technology and digital solution providers to target new innovations within the market. The strategy helps companies to broaden their geographic reach with additional service portfolios.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Web Real Time Communication Market Value (2023) | USD 9,324.4 million |
| Web Real Time Communication Market Expected Value (2033) | USD 363,320.9 million |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, South Korea, India, Singapore, Malaysia, Thailand, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Component, Enterprise Size, Industry, Region |
| Key Companies Profiled | Avaya Inc.; Google Inc.; Cisco Systems, Inc.; IBM Corporation; Huawei Technologies Co., Ltd.; Ericsson; TokBox Inc.; Mitel Networks Corporation; AT&T Inc.; Plivo Inc.; Twilio, Inc. |
| Customization & Pricing | Available upon Request |
The market is valued at USD 9,324.4 million in 2023.
The market’s CAGR from 2023 to 2033 will be 44.2%.
The market shall reach USD 363,320.9 million in 2033.
China will generate USD 289.8 million revenue by 2033.
WebRTC solution and services will remain preferred.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. WebRTC Solution 5.1.1. Cloud based 5.1.2. On premise 5.2. Service 5.2.1. Consulting Services 5.2.2. Integration & Implementation Services 5.2.3. Design & Development Services 5.2.4. Support & Maintenance 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size 6.1. SMEs 6.2. Large Enterprises 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 7.1. IT & Telecom 7.2. BFSI 7.3. Media & Entertainment 7.4. Healthcare 7.5. Government 7.6. Manufacturing 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Avaya Inc. 18.2. Google Inc. 18.3. Cisco Systems, Inc. 18.4. IBM Corporation 18.5. Huawei Technologies Co., Ltd. 18.6. Ericsson 18.7. TokBox Inc. 18.8. Mitel Networks Corporation 18.9. AT&T Inc. 18.10. Plivo Inc. 18.11. Twilio, Inc. 19. Assumptions & Acronyms Used 20. Research Methodology
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