Web Real Time Communication Market Snapshot
The demand for web real time communication solution is expected to top US$ 4,528.3 Mn in 2021. As per Future Market Insights (FMI) analysis, the market will register impressive growth at 44.4% CAGR between 2021 and 2031, as enterprises around the world are exhibiting high demand for web real time communication solutions and services.
Newly released data on web real time communication solution indicates a 41.6% y-o-y growth in 2021. WebRTC Solution will continue to have the largest market share. On the other hand, demand for web real time communication services is forecast to grow at a 46.5% CAGR through the assessment period.
Key Points Covered in Web Real Time Communication Solution Industry Survey
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Web Real Time Communication Solution and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 Web Real Time Communication Solution Demand Outlook Compared to 2021-2031 Forecast
The global web real time communication solution market size is estimated to be valued at US$ 4,528.3 Mn in 2021. The demand for web real time communication solution is expected to rise at a CAGR of 44.4% during the forecast period 2021-2031.
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 digitalization to reduce associated human tasks and errors. Additionally, the ease of operation and user friendliness also reflects high demand for the same.
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 US$ 4,528.3 Mn in 2021 to over US$ 178,395.9 Mn by 2031.
How is Rising Number Internet Users Affecting Web Real Time Communication Solution Sales Outlook?
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.
Moreover, 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.
What are the Key Expansion Strategies Used by Web Real Time Communication Solution Providers?
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.
Country-wise Insights
Why is the Demand for Web Real Time Communication Solution Surging in the U.S.?
According to the Future Market Insights analysis, the overall web real time communication solution spending in the U.S. alone is likely to increase at a rate of 42.8% between 2021 and 2031, with a market value of US$ 1,213.2 Mn in 2021.
The U.S. 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.
Furthermore, 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.
Is Germany a Lucrative Market for Web Real Time Communication Solution?
The market in Germany is anticipated to be valued around US$ 21,943.6 Mn by 2031. In recent years, many SMEs in European countries including the U.K., 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.
Moreover, 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.
What is Driving Demand for Web Real Time Communication Solutions and Services in China?
According to the FMI analysis, the market for Web Real Time Communication Solution in China is likely to grow at a CAGR of 49.3% from 2021 and 2031, with a market value of around US$ 289.8 Mn in 2021.
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 2021 and beyond.
How are Web Real Time Communication Solution Sales Faring across India?
The market in India is anticipated to witness a growth in revenue from around US$ 100.3 Mn in 2020 to US$ 8,466.7 Mn by 2031. 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.
Moreover, 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, rapid growth in the healthcare sector is further expected to drive the market.
Why is the Demand for Web Real Time Communication Solution Surging in the U.S.?
According to the Future Market Insights analysis, the overall web real time communication solution spending in the U.S. alone is likely to increase at a rate of 42.8% between 2021 and 2031, with a market value of US$ 1,213.2 Mn in 2021.
The U.S. 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.
Furthermore, 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.
Is Germany a Lucrative Market for Web Real Time Communication Solution?
The market in Germany is anticipated to be valued around US$ 21,943.6 Mn by 2031. In recent years, many SMEs in European countries including the U.K., 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.
Moreover, 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.
What is Driving Demand for Web Real Time Communication Solutions and Services in China?
According to the FMI analysis, the market for Web Real Time Communication Solution in China is likely to grow at a CAGR of 49.3% from 2021 and 2031, with a market value of around US$ 289.8 Mn in 2021.
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 2021 and beyond.
How are Web Real Time Communication Solution Sales Faring across India?
The market in India is anticipated to witness a growth in revenue from around US$ 100.3 Mn in 2020 to US$ 8,466.7 Mn by 2031. 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.
Moreover, 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, rapid growth in the healthcare sector is further expected to drive the market.
Category-wise Insights
What is the Market Share of Centralized Web Real Time Communication Solution?
On the basis of 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 46.5% 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.
Why are Large Enterprises Holding a Larger Market Share?
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 US$ 2,018.9 Mn in 2020, while growing at a considerable CAGR of 43.8% between 2021 and 2031.
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.
Why is the Demand for Web Real Time Communication Solution Rising from the IT and Telecom Sector?
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 2021. 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.
Competitive Landscape
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.
- For instance, in March 2020, Ribbon Communications Operating Company, Inc. launched “Work@Home”, a cloud-based offering to provide advanced remote working capabilities for enterprises. The cloud-based offerings include comprehensive Unified Communications and Collaboration solution with the company’s smart office that is aimed at providing screen sharing, conferencing, and group chat services on for mobile and desktop users.
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.
- For instance, in September 2019, Cisco Systems completed the acquisition of Voicea, a provider of real-time solutions. The acquisition was aimed at enhancing the former company’s Webex portfolio with transcription services that merged artificial intelligence and the automated speech recognition together.
Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Singapore, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, North Africa, and South Africa |
| Key Segments Covered | Component, Enterprise Size, Industry, and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecasts, Vendor Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Questions Answered in the Report
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What is the global market size of web real time communication solution?
The overall web real time communication solution market is expected to surpass US$ 4,528.3 Mn in 2021.
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At what rate did the demand for web real time communication solution grow in the last five years?
Demand for Web Real Time Communication Solution has increased at 40.1% CAGR between 2016 and 2020.
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What are the key market trends shaping the demand for Web Real Time Communication Solution?
Market players are focused on introducing technological improvements and offering cost-effective web real time communication solution to help enterprises improve their productivity and reduce complexities in the communication process.
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Which countries are key producers of web real time communication solution?
According to the Future Market Insights analysis, the U.S., the U.K., Germany, and Canada are the key countries offering web real time communication solution.
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What is the global web real time communication solution market growth outlook between 2020 and 2021?
The global market growth is projected at 44.4% between 2020 and 2021.
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What is the North America growth outlook for web real time communication solution adoption?
North America is dominating the global market for web real time communication solution and will account for estimated 39% of the global market in 2021 with a 43.1% CAGR.
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Who are the top web real time communication solution providers and what is their market share?
Avaya Inc., Google Inc., Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd., and Ericsson, are the top web real time communication solution vendors. They are likely to account for over 24% of the global market.
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At what rate will the demand for web real time communication solution rise in the Europe market?
The Europe market for web real time communication solution is expected to rise at a CAGR of 45.7% between 2021 and 2031.
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Which are the top five countries driving web real time communication solution demand?
Leading countries driving demand for the web real time communication solution are U.S., Canada, UK, Germany, and China.
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What are the key statistics for web real time communication solution in Japan and South Korea?
The demand for web real time communication solution in Japan and South Korea is expected to rise at 51.5% CAGR and 43.3% CAGR, accounting for 32.5% and 18.5% value share in 2021 respectively, in East Asia region.
Market Segmentation by Category
Component:
- WebRTC Solution
- Cloud based
- On premise
- Service
- Consulting Services
- Integration & Implementation Services
- Design & Development Services
- Support & Maintenance
Enterprise Size:
- SMEs
- Large Enterprises
Industry:
- IT & Telecom
- BFSI
- Media & Entertainment
- Healthcare
- Government
- Manufacturing
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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