Web Real-Time Communication (WebRTC) Market Size by Component (Solution [Voice Calling & Conferencing, Messaging & File Sharing, Video Calling & Conferencing], Service), By Enterprise Size (Large Enterprise, SMEs), By Application (IT &Telecom, BFSI, Gover

Web Real-Time Communication (WebRTC) Market Size by Component (Solution [Voice Calling & Conferencing, Messaging & File Sharing, Video Calling & Conferencing], Service), By Enterprise Size (Large Enterprise, SMEs), By Application (IT &Telecom, BFSI, Government & Defense, Healthcare, Retail, Media & Entertainment), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

Web Real-Time Communication (WebRTC) Market is projected to grow substantially during 2023-2032, owing to the rising work-from-home trend that has empowered organizations to deploy WebRTC services to increase network security. Web real-time communication offers opportunities for instant updates and feedback, prompt access to shared documents, and little to no room for misunderstandings. In addition, the rising acceptance of several technologies, including cloud computing, traffic on the network, Voice over Internet Protocol (VoIP), and connected devices, has put stress on the network, which in turn is estimated to propel the adoption of WebRTC services in the future.

The WebRTC communication standards are still under development, which is expected to hinder market growth through the estimated time frame. However, the deployment of 5G technology across enterprises is supporting enhance the business, especially in e-sports streaming, interactive advertising, personal broadcasting, and educational broadcasting, which is projected to positively impact the market outlook by 2032.

Overall, the real-time web communication (WebRTC) industry is segmented in terms of component, solution, enterprise size, end-user, and region.

Based on the component, the service segment is expected to grow considerably through 2032. The growth can be attributed to the rising emphasis of several WebRTC services and solution providers on developing innovative solutions and undertaking acquisitions and mergers. To cite an instance, in 2022, Microsoft acquired Peer5 to enhance live video streaming in Microsoft Teams. With this move, Microsoft plans to build a better hybrid workplace for a new communications era.

Considering the solution, the voice calling and conferencing segment held over 41% market share in 2022 and is expected to register massive growth through 2032. Lower costs, complete portability, higher scalability, increased accessibility, advanced features for small and large teams, and clearer voice quality are the key factors that will drive the demand for voice calling and conferencing during 2023–2022.

Based on enterprise size, the SMEs segment held more than 22% market share in 2022 and is expected to register positive gains throughout the projected time. The rise of remote working and work-from-home options has urged SMEs to switch to WebRTC solutions to enable employees communicate with remote coworkers and build a flexible environment. Cost-saving advantages offered by cloud-based arrangements of web-based real-time communication solutions are further projected to spur adoption in SMEs, augmenting the market outlook through 2032.

By end-user, the IT and telecom sector held a market share of approximately 33% in 2022 and is slated to grow exponentially during 2023-2032. The dynamics, such as the COVID-19 pandemic, have revolutionized the IT industry ecosystem. Many businesses have shifted to the remote working policy, further expediting the demand for BYOD policies and secure & robust communication solutions.

Regionally, the North America WebRTC market held approximately 37% market share in 2022 and is estimated to witness robust growth through 2032. The growth can be credited to the rising presence of the leading market players who are constantly engaging in offering industry-specific WebRTC-based communication solutions that are both cost-effective and user-friendly.