Rich Communication Services (RCS) Market Share, Growth, Trends & Forecast to 2027

 The Rich Communication Services (RCS) Market is growing continually. The market growth attributes to the rising need for advertisement and the increasing adoption of smartphones. Smartphones are becoming increasingly affordable due to the cutthroat competition among smartphone manufacturers and network carriers to deliver competitive products and services.

Besides, the rising proliferation of the Internet of Things (IoT) technology and smart & connected devices drive the growth of the market. Moreover, the emergence of Ultra HD resolution video content escalates market growth. According to Market Research Future (MRFR), the global rich communication services market valuation is projected to expand to approx. USD 22 BN by 2026, growing at 22% CAGR throughout the review period (2020–­2026).

The recent Coronavirus epidemic has hugely impacted the market growth due to imposed lockdown mandates and work from home environments. The marketing & notification campaigns based on digital platforms that were carried out during the pandemic through messaging have boosted the demand for RCS services. Additionally, the Covid-19 pandemic has forced businesses to accelerate their digital transformation and messaging, and conversational commerce is a key enabling tool for businesses.

Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1904

Rising uptake of RCS Messaging-as-a-Platform (MaaP) solution by mobile network operators (MNOs) and partners substantiates market growth. The increasing need for MNOs to accelerate their transformation while minimizing risk and cost with OPEX and revenue share commercial models creates considerable demand for business messaging services.

Over the top (OTT) messaging services are trying to fill the needs of businesses during the COVID 19 pandemic; this, as a result, provides MNOs a faster route to deliver RCS, protect their existing messaging revenue, and open additional revenue from new use cases. Additionally, content delivery companies are making larger file-sharing options as their unique selling proposition. These companies are also working on expanding their compatibility with mobile phones of various makes and platforms.

 

Rich Communication Services Market   - Segments

The report is segmented into five dynamics;

By Application: Advertisement, Content Delivery, Integrated Solutions, and others.

By End User        : Individual Consumers and Enterprises.

By Organization Size: Small & Medium Enterprises (SMEs) and Large Enterprises.

By Vertical                : BFSI, IT & Telecommunications, Media & Entertainment, Tourism & Logistics, Retail, Healthcare, and others.

By Regions                : North America, Europe, APAC, and the Rest-of-the-World.

 

Global Rich Communication Services (RCS) Market   - Regional Analysis

North America dominates the global rich communication services market. The largest market share attributes to the presence of several notable players such as Google (US), AT&T (US), Verizon (US), Mavenir (US), KDDI America, Inc. (US), Twilio Inc. (US), and Interop Technologies (US). Besides, the early adoption of advanced messaging features connected via SMS by marketers to foster the marketing campaigns drive the regional market's growth.

Moreover, the high adoption of IoT technology and smart devices such as smartphones and smart TV propel market growth in the region. Considerable technological advances in OTT platforms and the proliferation of the Internet and smart connected devices boost the regional market's growth. The North American RCS market is anticipated to retain its dominance throughout the assessment period.

Europe stands second in the global rich communication services market. The market growth is driven by the expansion strategy adopted by the major players in the industry. Additionally, the rising adoption of RCS services for customer acquisition and to improve customer engagement by notifying them about new offers and process automation through alerts impact the regional market growth.

Also, the need for advertisement and customer aftersale services and surveys regarding improvements in their day-to-day business activities fosters market growth in the region.   The European mobile RCS market is expected to show immense growth over the forecast period.

The rich communication services market in the Asia Pacific region is growing rapidly. Factors such as the rising OTT platforms and the disposable income of demographics provide impetus to the market growth. Moreover, the increasing demand for high-speed internet connectivity propels the development of the rich communication services market.

Countries, including China, Japan, and India, are the largest markets for RCS services in the region. The APAC rich communication services market is expected to gain momentum growing at the highest CAGR in the coming years.

 

Global Rich Communication Services Market   - Competitive Analysis

The well-established RCS market is adorned by several large and small players having an international presence. Matured players incorporate collaboration, acquisition, partnership, product launch, and expansion to gain a competitive advantage. The market demonstrates high growth prospects, which would attract several new entrants to the market, further boosting the market competition. 

Major Players:

Players leading the global RCS market include Google (US), AT&T (US), Vodafone Limited (UK), Verizon (US), Orange (France), Telefonaktiebolaget LM Ericsson (Sweden), KDDI America, Inc. (US), SK Telecom CO., LTD. (Korea), Telit (UK), Telstra Group (Australia), Mavenir (US), Tanla Solutions Limited (UAE), Nokia (Finland), Twilio Inc. (US), and Interop Technologies (US), among others.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/rich-communication-service-market-10368

 

Industry/ Innovation/ Related News

December 01, 2020 --- Mavenir (the US), a leading global cloud-native software company providing Cloud Native Network Software and Rich Communication Services (RCS), announced the availability of its RCS Business Messaging Solution, simplifying the global deployment through Microsoft Azure for mobile network operators to help businesses accelerate digital transformation.

While over the top (OTT) messaging services are rushing to fill the needs of businesses during this pandemic, this provides MNOs a faster route to deliver RCS, protect their existing messaging revenue and open additional revenue from new use cases.

 

About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

 

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research. 

 

Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

 

 

Comments

Post a Comment

Popular posts from this blog

Future Analysis For Web Scraper Software Market Forecast By 2020 – 2027

  The global web scraper software market generated a revenue of USD 402.84 million in 2019 and is expected to reach a valuation of USD 948.60 million by 2026, growing at a 13.0% CAGR. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years. The web scraper software market consists of major sub-segments, including general-purpose web crawlers, focused web crawlers, incremental web crawlers, and deep web crawlers. Focused web crawler is a hypertext system that seeks, acquires, indexes, and maintains pages on specific topics that represent a relatively narrow segment of the web. It is subject-specific and aims selectively at collecting web pages that are relevant to a given topic. The purpose of incremental deep web crawling is to select the correct query and obtain as many incremental records as possible while minimizing the communication cost. Incremental crawling is traditional...
Read more

Wireless Telecommunication Service Market Size Trends analysis, Key News, Size, Industry Share and Regional Forecast to 2027

  Wireless Telecommunication Service Market Size Scenario: According to Market Research Future (MRFR), the global Wireless Telecommunication Service Market Size is poised to reach approximately USD 1 BN by 2027, growing at a massive 32% CAGR throughout the review period (2020 to 2027). The global AI in telecommunication is growing continually. AI in telecommunication enables intelligent decision making to manage dynamic network traffic & resources and brings automation in the industry, allowing reduced operational cost and increased efficiency. The market growth attributes to increasing demand for autonomously driven network solutions. Besides, telecom networks expanding in size increase market demand. Digital transformation in various applications increases the use of AI-driven solutions in telecommunication. Additionally, the rising need for strategy and tools to collect and analyze a large amount of data among telecom service providers to provide attractive services a...
Read more

Data Center Cooling Market Growth Dynamics, Size, Business Opportunities and Industry Forecast to 2027

  Market Overview  Market Research Future (MRFR) expects the Data Center Cooling Market 2020 to record a CAGR of 14% between 2021 and 2027 (evaluation period). We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak. Key Boosters and Main Barriers  Data centers are observing high demand with the growing need for technologies that facilitate remote working during the lockdown period since the COVID-19 outbreak. The evolvement of the business environment in light of SARS-CoV-2 has accelerated the growth of digitization as well as cloud services, with more and more companies trying to enhance their digital infrastructure to cope with the changing working methods. With companies learning new techniques in terms of work from home as well as data accessibility has led to higher need for services and space in data centers, a trend that MRFR believes can gather more momentum as time passes. Sinc...
Read more