According to the latest report by IMARC Group, titled “Rich Communication Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global rich communication services market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global rich communication services (RCS) market size reached US$ 1,554.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,281.0 Million by 2028, exhibiting a growth rate (CAGR) of 24.5% during 2023-2028.
What is Rich Communication Services?
Rich communication services (RCS) refer to a type of text-based protocol for mobile devices that is created as a replacement for short message service (SMS) and multimedia messaging service (MMS). They rely on mobile data and wireless fidelity (Wi-Fi) enabling the users to send and receive messages even when call service is unavailable. They allow users to create various groups with their contacts to chat, send images and videos, and share voice notes. They also provide read receipts option to check who has seen the sent messages and secure the communication and restrict third parties from accessing the messages and contents shared with other contacts.
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Rich Communication Services Market Trends and Drivers:
The increasing number of telecom operators developing, investing, and offering RCS platforms as it is efficient and retains the high-quality of photos and videos represents one of the primary factors influencing the market positively.
Besides this, the rising utilization of various smart devices, such as smart phones and laptops, to access the internet and communicate with other individuals is propelling the growth of the market.
In addition, the growing integration of RCS in the banking sector as it provides horizontally scrollable carousel of up to ten vertical rich cards, brand locator, and suggestive replies is offering a favorable market outlook.
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Global Rich Communication Services Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, 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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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