The global rich communication services (RCS) market reached a value of US$ 1,210.90 Million in 2021. Looking forward, the publisher expects the market to reach a value of US$ 5,528.60 Million by 2027 exhibiting a CAGR of 27.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Rich communication services (RCS) refer to a carrier-implemented text-based protocol, which is designed as an alternative for short message services (SMS) and multimedia messaging services (MMS). It enables users to create group chats, send attachments, like images and videos files, get read receipts, and have support for end-to-end encryption through smartphones. RCS offers various benefits, such as higher-targeted communication to reach consumers, security, better streaming of audio and video, one app functionality, and improved sender verification.
The widespread adoption of RCS across various industrial verticals, such as healthcare, information technology (IT), hospitality, entertainment and banking, financial services, and insurance (BFSI) sector, is one of the key factors driving the RCS market growth. In line with this, the increasing investments in the long-term evaluation (LTE) and IP multimedia subsystem (IMS) for facilitating the next generation of broadband mobile services is acting as another major growth-inducing factor. Additionally, the RCS finds extensive application in the corporate sector for peer-to-peer (P2P) messaging, marketing, campaigning, and advertising strategies, which is further contributing to the market growth. Apart from this, the strategic collaborations between the key players for advancing RCS and the implementation of universal communication protocol specification by the global system for mobile communications association (GSMA) for enabling operator service interoperability are propelling the market growth. Other factors, such as the introduction of 5G network and the integration of RCS with several technological solutions, like cloud-based, artificial intelligence (AI), voice over long-term evolution (VO-LTE), and application programming interface, to promote the next-generation messaging and chatbot interaction, are creating a positive outlook for the market across the globe.
The publisher provides an analysis of the key trends in each sub-segment of the global rich communication services (RCS) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on communication type, deployment mode, organization size, application and industry vertical.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Global Message Services, Google LLC (Alphabet Inc.), Huawei Technologies Co Ltd, Mavenir plc, SK Telecom Co Ltd, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited, T-Mobile US Inc., Verizon Communications Inc., Vodafone Group PLC, and ZTE Corporation.
Rich communication services (RCS) refer to a carrier-implemented text-based protocol, which is designed as an alternative for short message services (SMS) and multimedia messaging services (MMS). It enables users to create group chats, send attachments, like images and videos files, get read receipts, and have support for end-to-end encryption through smartphones. RCS offers various benefits, such as higher-targeted communication to reach consumers, security, better streaming of audio and video, one app functionality, and improved sender verification.
Rich Communication Services (RCS) Market Trends:
The widespread adoption of RCS across various industrial verticals, such as healthcare, information technology (IT), hospitality, entertainment and banking, financial services, and insurance (BFSI) sector, is one of the key factors driving the RCS market growth. In line with this, the increasing investments in the long-term evaluation (LTE) and IP multimedia subsystem (IMS) for facilitating the next generation of broadband mobile services is acting as another major growth-inducing factor. Additionally, the RCS finds extensive application in the corporate sector for peer-to-peer (P2P) messaging, marketing, campaigning, and advertising strategies, which is further contributing to the market growth. Apart from this, the strategic collaborations between the key players for advancing RCS and the implementation of universal communication protocol specification by the global system for mobile communications association (GSMA) for enabling operator service interoperability are propelling the market growth. Other factors, such as the introduction of 5G network and the integration of RCS with several technological solutions, like cloud-based, artificial intelligence (AI), voice over long-term evolution (VO-LTE), and application programming interface, to promote the next-generation messaging and chatbot interaction, are creating a positive outlook for the market across the globe.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global rich communication services (RCS) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on communication type, deployment mode, organization size, application and industry vertical.
Breakup by Communication Type:
- A2P
- P2A
- P2P
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Application:
- Rich Calls and Messaging
- Cloud Storage
- Marketing and Advertising Campaign
- Content Delivery
- Others
Breakup by Industry Vertical:
- Healthcare
- Retail and E-commerce
- BFSI
- IT and Telecom
- Travel and Tourism
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Global Message Services, Google LLC (Alphabet Inc.), Huawei Technologies Co Ltd, Mavenir plc, SK Telecom Co Ltd, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited, T-Mobile US Inc., Verizon Communications Inc., Vodafone Group PLC, and ZTE Corporation.
Key Questions Answered in This Report:
- How has the global rich communication services (RCS) market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global rich communication services (RCS) market?
- What are the key regional markets?
- What is the breakup of the market based on the communication type?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global rich communication services (RCS) market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Rich Communication Services (RCS) Market
What is the estimated value of the Global Rich Communication Services (RCS) Market?
What is the growth rate of the Global Rich Communication Services (RCS) Market?
What is the forecasted size of the Global Rich Communication Services (RCS) Market?
Who are the key companies in the Global Rich Communication Services (RCS) Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 1210.9 Million |
| Forecasted Market Value ( USD | $ 5528.6 Million |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Rich Communication Services (RCS) Market
6 Market Breakup by Communication Type
7 Market Breakup by Deployment Mode
8 Market Breakup by Organization Size
9 Market Breakup by Application
10 Market Breakup by Industry Vertical
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Global Message Services
- Google LLC (Alphabet Inc.)
- Huawei Technologies Co Ltd
- Mavenir plc
- SK Telecom Co Ltd
- Telefonaktiebolaget LM Ericsson
- Telstra Corporation Limited
- T-Mobile US Inc.
- Verizon Communications Inc.
- Vodafone Group PLC
- ZTE Corporation.
Methodology
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