Web real-time communication solutions are expected to reach US$ 9,324.4 million in 2023 and US$ 363,320.9 million in 2033. Future Market Insights (FMI) projects that the market will expand at a 44.2% compound annual growth rate (CAGR) from 2023 to 2033 as a result of the global demand for online real-time communication solutions and services from companies.
According to newly disclosed research, the online real-time communication solution will expand by 41.6% yearly in 2021. WebRTC Solution will remain the dominant player in the sector. On the other hand, throughout the course of the assessment period, a 44.2% CAGR is projected in the increase of demand for online real-time communication services.
Technological improvements have resulted in a shift towards automation and digitalization, which have reduced related human activities and mistakes. Furthermore, the simplicity of operation and user-friendliness highlight the increasing demand for the same.
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Key Takeaways
- Germany’s market is expected to be worth roughly US$ 21 billion by 2033.
- In 2022, Germany held 8.9% of market revenue.
- According to FMI, the market for Web Real Time Communication Solution in China is expected to develop at a CAGR of 47.3% between 2023 and 2033.
- The Indian market is expected to rise in sales from roughly US$ 100.3 million in 2022 to US$ 8,466.7 million by 2033.
- Furthermore, India is predicted to develop substantially in the next years, with a CAGR of 44.2%.
“The demand for online real time communication solutions is expected to skyrocket as small and large businesses seek cost-effective solutions and services. Furthermore, the market is likely to be driven by significant expansion in the healthcare sector.” says FMI analyst.
Competitive Landscape
- KLR WS (Kaleyra Video), an audio-video calling service based on WebRTC technology, was made available in the United States in April 2023. WebRTC was brought into the US market by Kaleyra, a large worldwide CPaaS vendor.
- In February 2023, Comviva, a Tech Mahindra subsidiary, announced the release of its Communication Platform as a Service (CPaaS) solution powered by Microsoft Azure.
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Key players
- Avaya Inc.
- Google Inc.
- Cisco Systems, Inc.
- IBM Corporation
- Huawei Technologies Co., Ltd.
- Ericsson
- TokBox Inc.
- Mitel Networks Corporation
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Web Real Time Communication Solution market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights By Component (WebRTC Solution, Service), Enterprise Size (SMEs, Large Enterprises), Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, Government, Manufacturing) & Region.
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Market Segmentation by Category
By Component:
- WebRTC Solution
- Cloud based
- On premise
- Service
- Consulting Services
- Integration & Implementation Services
- Design & Development Services
- Support & Maintenance
By Enterprise Size:
- SMEs
- Large Enterprises
By Industry:
- IT & Telecom
- BFSI
- Media & Entertainment
- Healthcare
- Government
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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