Market Size –
The web real-time communication market size has grown exponentially in recent years. It will grow from $8.62 billion in 2023 to $12.51 billion in 2024 at a compound annual growth rate (CAGR) of 45.2%. The growth in the historic period can be attributed to proliferation of web-based applications, rise of remote collaboration, user-friendly and seamless experiences, open source standard, mobile integration.
The web real-time communication market size is expected to see exponential growth in the next few years. It will grow to $55.46 billion in 2028 at a compound annual growth rate (CAGR) of 45.1%. The growth in the forecast period can be attributed to integration with unified communications, expansion of internet of things (iot) applications, improved security measures, augmented and virtual reality (ar/vr) integration, 5g network deployment:. Major trends in the forecast period include rise of remote work and virtual collaboration, mobile-first approach, integration with web browsers, emergence of progressive web apps (pwas), advancements in security and privacy.
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Scope Of Web Real Time Communication Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing popularity of BYOD will propel the web real-time communication market growth. BYOD is when employees connect to the organization’s network and access what they need to complete their tasks using their personal devices, such as smartphones, tablets, computers, laptops, and others. BYOD is aided by web real-time communication as it links browser-to-browser without additional plugins/utilities. According to Cisco, an IT and networking company, 89% of IT departments enable BYOD in some form, and 69% of IT leaders are positive about BYOD. Therefore, the growing adoption of BYOD policies in companies is driving the web real-time communication market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The web real-time communication market covered in this report is segmented –
1) By Component: Solution, Service
2) By Web RTC-Enabled Devices: Mobile, Desktop, Tablet, Other Web RTC-Enabled Devices
3) By Deployment Type: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Scale Enterprises (SMEs), Large Enterprises
5) By Application: Information Technology (IT) And Telecom, Banking, Financial Services And Insurance (BFSI), Government And Defense, Healthcare, Retail, Media And Entertainment, Other Applications
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Regional Insights –
North America was the largest region in the web real-time communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the web real-time communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the web real-time communication market report are Avaya Inc., CafeX Communications Inc., Cisco Systems Inc., Dialogic Corporation, Google LLC, Alcatel-Lucent Enterprise International, AT&T Inc., Apidaze, Oracle Corporation, Plivo Inc., Quobis, Poly Inc., Ribbon Communications Operating Company Inc., Sangoma Technologies Corporation, Twilio Inc., Vonage Holdings Corp., WebRTC. ventures, Frozen Mountain Software, Agora. io, TokBox Inc., Temasys Communications Pte Ltd., Sinch AB, Pexip AS, QuickBlox, Skylink Technologies LLC, Xirsys Inc., SightCall, Peer5 Inc., Wowza Media Systems LLC, Jitsi
Table of Contents
1. Executive Summary
2. Web Real Time Communication Market Report Structure
3. Web Real Time Communication Market Trends And Strategies
4. Web Real Time Communication Market – Macro Economic Scenario
5. Web Real Time Communication Market Size And Growth
…..
27. Web Real Time Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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