Web Real Time Communication Solution Market

Web Real Time Communication (WebRTC) Solution Market Outlook & Key Findings

• Global WebRTC market to reach a valuation of 22.4 Bn by 2030, registering a CAGR of 21.2%
• SMEs are implementing WebRTC–enabled solutions as these offer ease of deployment for real-time communication
• WebRTC is extension of voice-over-IP that offers capabilities of making phone calls, video calls, texts, and even peer-to-peer file transfer directly through the web browser without any plug-ins
• Social networking applications to witness a growth of 21% Y-o-Y 2019 and 2020
• Adoption of WebRTC solutions specifically on private clouds is gaining traction in BFSI segment inching closer to acquiring 24% market share by 2030

Adoption of Web Real Time Communication for Context-based support Across Call Centers Boosts Market

Web real time communication is used for real time and peer-to-peer communication in web browser and mobile applications through APIs. The adoption of web real time communication is increasing in contact centers or call centers as it allows users to communicate directly through multiple means. It permits users to communicate on their own terms by using their preferred platforms through cross platform support.

Web real time communication also provides context-based support, allowing agents to pass information about users as they initiate the support request. This allows both the parties to garner adequate historical information to thoroughly assess the issue at hand for arriving at a quick solution. With features such as screen sharing, WebRTC has truly evolved as a solution in improving customer service, which is favoring market growth in economies that rely on service centers for revenue. 

Online Games with Real-time Communication Opens Doors to Monumental Returns

Online games have gained immense popularity amongst all age groups and genders for the immeasurable entertainment value they provide. Between 2020 and 2030, the online gaming market is projected to witness a Y-o-Y rise of 15% to 18%.

This trend will translate to an exponential rise in the adoption of WebRTC solutions as team-based games demand audio and visual communication with teammates for strategy panning. Web real time communication adds the voice and video capabilities into existing gaming platform and allows game data transfer in real-time between peers without going through a central server. This reduces the critical issue of latency and uses less data overhead during the game.

Online games use web real time communication data channels on a browser for multiplayer game play while players use smartphones or web browser to engage in one-on-one player to player battles. Web real time communication keeps the game in sync and reduces the server costs by sending game data peer-to-peer.  Web real time communication provide APIs for rapid development and help to lower cost by using the open source code and publicly available services.

These multifold benefits are projected to deliver a high return on investment for web real-time communication solutions during the forecast period.

Multi-party Virtual Reality Experiences Seek WebRTC Solutions for Enhanced Interaction

The adoption of virtual reality (VR) is increasing for training, strategy planning, and operation in various sectors. In 2019, approximately 2 million VR devices are shipped, indicating a massive leap for VR sets. Military, healthcare, and other sectors are expected to use these for training purposes by simulating situations, surroundings, and conditions giving the apprentice or cadet a very life-like learning experience.

Use of VR sets is growing in the military for immersive training and teaching situational awareness. Also, it is used in healthcare sector for boot camp experience for new recruits. This in turn is boosting the adoption of WebRTC solutions.

WebRTC plays important role in enabling multi-party virtual reality experience as it provides the low latency audio and video transfer to maintain immersion and mimic the reality for multi-party virtual reality experience. It is used to make shared, cross platform VR experience possible. Real time videos can be directly transmitted from AR/VR enabled devices to a browser using the web real time communication.

Thus, real time data is used for training by creating specific content from the real world footage to deliver precision in exercises is expected to make WebRTC a highly valued solution across verticals.

South Asia & Pacific Sees an Unprecedented Adoption of Web Real Time Communication Solutions

According to Future Market Insights, North America and Europe dominated the web real time communication solution market in 2019. Analysis suggests that the incremental $ opportunity for North America web real time communication solution market is estimated at US$ 6.5% Bn for 2020-2030. The regional dominance will be dictated by increasing demand for cost-effective and user-friendly browser-based real-time communication solutions by contact centers and other verticals in the region. This is encouraging key players to introduce vertical-specific WebRTC solutions and services.  

As for South Asia & Pacific the incremental $ opportunity is estimated at US$ 4.5 Bn for 2020-2030. The regional market is projected to register a CAGR of 24.7% during the forecast period.

Major players operating in the WebRTC solution market in the region are concentrating on introducing advanced web-based real-time communication solutions for the call center industry as the call center industry has witness the growth of 1.2% in 2017 to 5.4% in 2019 in country like India.

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Web real time communication solution market in North America region is estimated to hold higher market share of 32.8% during the forecast period due to increasing investments by the key players in the region. Moreover, the vendors in the region are focusing on offering innovative, user friendly and cost effective WebRTC-based communication solutions and upgrading communication systems to enhance the security over networks.

South Asia & Pacific web real time communication solution market is projected to expand at whopping CAGR of 24.7% during the forecast period due to increasing number of social networking users in the region. Moreover, due to increasing bring-your-own-device (BYOD) trend across organizations, the demand is increasing for the collaborative tools and real time communication solutions in the Asian countries.

This is encouraging the vendors from the other regions to acquire the local players to enhance their market presence and provide WebRTC-powered collaboration and communication software to offer real-time customer service. Players are also expected to build live or archived video chat content for expanding their customer base.

Web Real Time Communication Solution Market: COVID-19 Impact

COVID-19 pandemic has significantly impacted businesses globally. It has impelled organizations to adopt work-from-home policy to ensure safety of the employees and business continuity. This has prompted the usage of collaboration technologies like video conferencing tools, which has seen a stupendous rise in Q1 2020.

Video conferencing tools are economically viable as they reduce travel cost, ensure sustained productivity, and enable decision making as it would be in physical office spaces. Current surge in demand for these tools as a response to the ongoing health crisis has augmented the uptake of WebRTC solutions. According to statistics in Q1 2020, video call applications like Skype has surged by 70% and Zoom garnered more than 300 million meeting participants.

The increasing demand of video conferencing tools is spurring the growth of web real time communication solution market as it provides APIs for the video conferencing tools. The web real time communication solution market grew around 20% Y-o-Y in the past two years. However, due to COVID-19 it is expected to swell all through 2021 as well.

Web Real Time Communication (RTC) Solution Market: Key Players

Collaborations and partnership with key players and acquisition of niche players are the key strategies followed by the leading web real time communication solution providers in the market. The global web real time communication solution market is fragmented in size, which remains a key factor for its dynamic competitive nature.

Key players operating in the global market are:

• Google LLC
• Avaya Inc.,
• Cisco Systems, Inc.,
• IBM Corporation
• Huawei Technologies Co, Ltd
• Ericsson
• TokBox Inc.,
• Mitel Networks Corporation
• AT&T
• Twilio, Inc.,

*The list is not exhaustive, and only for representational purposes. Full competitive analysis available in the report

Web Real Time Communication Solution Market: Way Forward

Organizations have shut down brick and mortar spaces and adopted remote working policies to maintain the social distancing norms. The remote working policy has reduced greenhouse gas emissions considerably. According to estimates, the reduction in carbon dioxide emission alone is 17%. Such a drastic drop in operational costs and impact on environment is expected to push companies to change policies.

In the wake of this change, organizations are looking at continuing remote working after the pandemic as well. To be the part of this new policy, companies will have to embrace web real time communication for communication for improved collaboration. Promise of WebRTC solutions to delivers better capabilities at a lower cost as compared to setting up dedicated systems for web and telecom will open up growth avenues in the coming decade