The global web real-time communication market is anticipated to grow at a potential CAGR during the forecast period. Web real-time communication (WebRTC) uses basic application programming interfaces to enable real-time communication between browser and mobile applications. Embedding RTC inside web applications improves the user experience and lowers expenses by eliminating the need to install additional plugins. As a result, the webification of RTC is expected to be a primary driver for market growth. Numerous corporate events, trade exhibits, international seminars, and investment presentations have been cancelled as a result of the COVID-19 epidemic. As a result, the hosts of these events have chosen video conferencing as a means of communication.
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Furthermore, work-from-home laws have resulted in a higher need for RTC solutions, which has boosted the market growth. In many nations, strict lockdown measures have been enacted, as a result of which schools are projected to remain closed which is leading to increasing demand for e-learning. Additionally, the demand for file sharing through the internet and online education is projected to drive the market in the near future.
During the forecast period, the growing number of internet users is expected to have a favorable impact on the market. According to the International Telecommunication Union (ITU), 53.6% of the global population has an internet connection in 2019, up from 51.4% in 2018. The market is expected to rise as internet penetration increases. Furthermore, the introduction of 5G technology will enable broadcasting service providers to use WebRTC to improve their business in areas such as e-sports streaming, personal broadcasting, interactive advertising, and instructional broadcasting. This, in turn, is offering an opportunity for market growth.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Component
- By End-User
- Competitive Landscape: AT&T Inc., Avaya Inc., Cisco Systems Inc., Oracle Corp., among others
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Global Web Real-Time Communication Market Segmentation
By Component
- Solutions
- Services
By Vertical
- BFSI
- Healthcare and Retail
- Telecom & IT
- Government and Defense
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
