The global market for web real time communication (WebRTC) solutions market is poised for extraordinary growth, with projections indicating an exponential rise from USD 9,324.4 million in 2023 to USD 363,320.9 million by 2033. According to Future Market Insights, this forecast reflects an impressive compound annual growth rate (CAGR) of 44.2% from 2023 to 2033, underscoring escalating demand from enterprises worldwide.
Enterprises across various sectors are increasingly adopting WebRTC solutions and services to enhance communication efficiency, collaboration, and customer engagement. WebRTC technology enables real-time voice, video, and data communication directly in web browsers, eliminating the need for additional plugins or software installations.
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.
Key players
- Avaya Inc.
- Google Inc.
- Cisco Systems, Inc.
- IBM Corporation
- Huawei Technologies Co., Ltd.
- Ericsson
- TokBox Inc.
- Mitel Networks Corporation
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
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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