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According to The Business Research Company’s research report on the web real-time communication market, the growing popularity of Bring Your Own Device (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 policy in companies is driving the web real-time communication market.
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The global web real-time communication market size is expected to grow from $4.19 billion in 2021 to $6.05 billion in 2022 at a compound annual growth rate (CAGR) of 44.37%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The web real-time communication market is expected to reach $27.25 billion in 2026 at a compound annual growth rate (CAGR) of 45.66%.
New product innovation is the key trend that is gaining popularity in the web real-time communication market. Major companies operating in the web real-time communication market are focused on research and development for product innovations that could give better solutions to customers and strengthen their position in the market. For instance, in November 2020, Ribbon Communications Operating Company Inc, a US-based company operating in web real-time communication, launched a new Work@Home solution based on cloud computing, to address telecommuting wave for remote working in partnership with UnifiedCommunications.com. Work@Home solution provides offices with remote working capabilities that include video, screen sharing, chat, and other features. UnifiedCommunications.com is a US-based company operating in web real-time communication.
Major players in the web real-time communication market are Avaya Inc, CafeX Communications Inc, Cisco Systems Inc, Dialogic Corporation, Google LLC, Oracle, Plivo Inc, Mitel Networks Corp, Ribbon Communications Operating Company Inc, Quobis, Sangoma, Vonage America LLC, Tokbox Inc, TWILIO INC, International Business Machines Corporation, Temasys Communications Pte Ltd, Apple Inc and Microsoft.
The global web real-time communication market analysis is segmented by component into solution, service; by web rtc-enabled devices into mobile, desktop, tablet, other web RTC-enabled devices; by deployment type into cloud, on-premise; by enterprise size into small and medium scale enterprises (SMEs), large enterprises; by application into information technology (IT) and telecom, banking, financial services and insurance (BFSI), government and defense, healthcare, retail, media and entertainment, other applications.
North America was the largest region in the web real-time communication market in 2021. Asia Pacific is expected to be the fastest-growing region in the web real-time communication market forecast period. The regions covered in the web real-time communication market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Web Real-Time Communication Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide web real-time communication market forecast size and growth, web real-time communication market segments and geographies, web real-time communication market trends, web real-time communication market drivers and restraints, web real-time communication market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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