Web Real-Time Communication Market Size Worth $40.6 Billion By 2027

Grand View Research, Inc.

SAN FRANCISCO, Aug. 5, 2020 /PRNewswire/ -- The global web real-time communication market size is estimated to reach USD 40.6 billion by 2027 growing at a CAGR of 43.4% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Web real-time communication (WebRTC) enables real-time communication capabilities over browsers without having the need to install additional plugins. It supports browser-to-browser applications for video chat, voice calling, messaging, and file sharing. Amid the spread of COVID-19, several organizations have adopted work-from-home policies. There is a need to maintain operational efficiency while working from home, and online communication has become an essential tool for all organizations. The increasing demand for online communication is expected to drive the market in the near future.

Key suggestions from the report:

• The solutions segment is projected to expand at a CAGR of over 40% from 2020 to 2027. This is attributed to the webification of communication
• Smartphones & tablets is projected to be the largest enabled device segment. Increased usage of smartphones for video conferencing and video calling is a major factor contributing to the segment share
• The healthcare segment is expected to register the fastest CAGR over the forecast period. The rising adoption of telehealth solutions that provide a remote connection between the patient and the clinician is anticipated to dive the segmental growth
• North America region held the largest market share of 41.13% in 2019. The large revenue share is attributed to the presence of several IT and Telecom giants in the region that need inter- and intra-organization communication on a daily basis

Read 148 page research report with ToC on "Web Real-Time Communication Market Size, Share & Trends Analysis Report By End-use Industry (IT & Telecom, Healthcare), By Component (Solutions, Services), By Enabled Device, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/web-real-time-communication-market