Agora, Inc. (NASDAQ: API), a pioneer in real-time engagement APIs, has swiftly established itself as a leader in the APAC region by capturing the largest market share in the Real-Time Communication (RTC) industry. Agora offers developers simple, flexible, and powerful APIs to embed real-time voice, video, interactive streaming, chat, and AI capabilities into their applications.
Globally, the company operates in over 200 countries, serving 1,700 customers as of March 2024—a 14% increase from the previous year. The company’s Real-Time Engagement Platform today powers over 60 billion minutes of live voice and video monthly, contributing to a revenue of USD 15.8 million, up 4.6% year-on-year.
Agora has been a key player in the Asia-Pacific market for several years, supporting the region’s growing demand for real-time audio and video engagement. The APAC video streaming market is projected to reach $112.89 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.5% from 2023 onwards. This growth is fueled by the rise in mobile streaming, as 97.2% of Filipinos engage in watching videos online at least once a week.
This trend signifies the huge potential for real-time audio and video engagement in APAC. Leveraging Agora’s real-time engagement APIs, marketers can integrate high-quality, low-latency video and audio experiences into their platforms. By supporting this shift, Agora helps facilitate smoother and more interactive content delivery, keeping pace with the changing trends and demands in the APAC video streaming landscape.
Within ten years in the market, Agora has demonstrated remarkable dominance. The company has achieved a 60% penetration rate in the top 20 1v1 video apps by revenue. Agora’s technology powers 45% of Southeast Asia’s dating apps and 65% of the top 20 voice chat rooms across APAC. Furthermore, with a 40% penetration rate in the top live streaming apps—the highest among third-party RTC providers—Agora has solidified its position as the preferred choice in the region.
Agora has strong ongoing collaborations with renowned companies across Southeast Asia, such as Tevi (Vietnam), KUMU (Philippines), Fastwork.co (Thailand), Everywhere.id (Indonesia), Soma (South Korean), Parallel (Japan) and Ellie Baby Monitor (Malaysia) all with positive results. For example, after implementing Agora.io’s real-time calling, Fastwork, one of the largest freelancing platforms in Southeast Asia, saw a 2x increase in chat-to-payment conversions, improving connections between freelancers and hiring companies. Similarly, since adopting Agora’s interactive live-streaming solutions, Everywhere.id in Indonesia has seen an average 71% increase in interactions, with a peak of 13 million minutes of monthly engagement.
“Agora is at the forefront of driving innovation across various industries including Social, Education, Telehealth, Live Shopping, Media & Entertainment, Gaming, the Future of Work, and Conversational AI.” said Effie Fang, Director of Agora’s APAC Sales Team. “Our advanced real-time engagement solutions empower businesses to deliver seamless, interactive experiences, tailored to meet the diverse needs of global audiences. As we expand our presence and technology offerings, we are also committed to helping local companies discover their strengths and achieve global success.”
Looking ahead, Agora is set to transform the AI landscape with its advanced multimodal solutions. The company will enable the rapid creation of seamless AI experiences across voice, video, and chat, by ensuring ultra-low latency and top-tier performance regardless of network conditions.
