According to the recent research report titled ‘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, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global web real-time communication (WebRTC) market is expected to witness considerable growth over 2021-2027.
 

Surging consumer demand for effective communication solutions and significance of real-time information updates amid the COVID-19 crisis are augmenting global web real-time communication (WebRTC) market growth.
 

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For the unversed, web real-time communication (WebRTC) is an industry-wide, open-source initiative that uses application interfaces to provide real-time video and audio conversations to web browsers and mobile applications. It is known as a powerful and dependable open-source solution that enables web browsers to handle real-time video, voice, and data sharing.
 

WebRTC implements the necessary real-time protocols for peer-to-peer media transfer via web browsers. This allows customers to start meetings with a single click without having to download special plugins or apps, which has been encouraging product adoption in recent years.
 

Notably, the introduction of smart gadgets and the Internet of Things (IoT) has also aided sector growth. In addition, the COVID-19 pandemic compelled many to work from home in order to stop the spread of the virus, which in turn, accelerated demand for seamless videoconferencing to enable distant work infrastructure.
 

Based on component type, service segment held a major portion of web real-time communication (WebRTC) market share in 2020 and is projected to record 45% CAGR through 2027, owing to escalating demand for incorporating real-time data solutions across web applications.
 

As per application spectrum, retail segment is expected to expand at a 15% CAGR over the assessment period, due to growing emphasis on development of several e-commerce platforms. Meanwhile, media & entertainment segment is predicted to develop at a CAGR of 40% over the same timeframe, creditable to rapid digitalization in the media industry.
 

Geographically, Latin America accounted for 5% of overall market share in 2020 and is expected to expand further through 2027, on account of rising requirement for web-based communication services across the region.
 

On the other hand, Middle East & Africa market is projected to record 40% CAGR through 2027, attributable to surging demand for unified communication services in the area.
 

Prominent firms impacting the web real-time communication (WebRTC) market dynamics are CaféX Communications Inc., Avaya Inc., Agora Lab Inc., Enghouse Systems Ltd., Dialogic Corporation, and Cisco System Inc. among others.