Global Rich Communication Services Market Size, Status and Forecast 2021-2025
The Rich Communication Services Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the Rich Communication Services.
The Rich Communication Services Market was valued at USD 4.50 billion in 2019 and is expected to reach USD 34.60 billion by 2025, at a CAGR of 40.51% over the forecast period 2020 – 2025.
– GSMA, an association that represents interests of nearly 800 mobile operators worldwide, is backing a universal RCS profile to provide RCS messaging right across the Android ecosystem and include Apple iPhone apps to receive and send RCS messages.
– In early 2017, nearly 49 operators had launched RCS across their network. Despite Google’s purchasing of Jibe to streamline the service, interoperability remains to pose challenges. AT&T in the US, for instance, implemented an older standard that doesn’t work with T-Mobile or Verizon’s version.
– RCS presents a platform to participate in testing an up-coming technology and to be able to make RCS as the default messaging experience worldwide. Companies deploying RCS will have the opportunity to deliver a consistent GSMA Universal Profile and to actively benefit from industry players partnering for the cutting edge of mobile communications.
Get a Free Sample Copy of this Report:
Top Leading Companies of Global Rich Communication Services Market are Huawei Technologies Co. Ltd, Xura Inc., Deutsche Telekom AG, Acme Packet Inc., Neusoft Corporation, Infinite Convergence Solutions Inc., Summit Technology Inc., Vodafone Group PLC, D2 Technologies Inc., Ribbon Communications Operating Company, Myriad Group AG and others.
Industry News and Updates:
– March 2019 – HDFC Bank Limited, one of India’s largest private sector banks has partnered with Route Mobile Limited to showcase Rich Communication Services (RCS) on Google’s RCS Business Messaging platform at Mobile World Congress (MWC) 2019.
Key Market Trends:
VoLTE to Witness Highest Growth Rate Over the Forecast Period
– The biggest factors driving the growth of VoLTE services will be from operators reducing costs and increases capacity of operators by moving voice calls from 3G and 4G networks to the 5G VoLTE network.
– With 5G wireless communication on its way, the use of smartphones would increase multifold, growing the demand for the latest models to raise the bar continuously facilitating the growth for rich communication services.
– Organizations are heavily investing in mitigation of interoperability issues that network operators face. For instance, in 2016, TIM and Vodafone Plc rolled out tests to ensure open, interoperable standards to maximize ease of use and offer the best services in the market.
North America to Hold the Largest Market Share
– In North America, RCS is gaining traction as the default messaging client, coupled with VoLTE to share the IMS stack that enhances the efficiency of the devices, network and simplifies the deployment of RCS services.
– VoLTE calls in this region make up 80% of all voice calls on the T-Mobile US network. The smartphone market in the United States stands 1444 million units in 2017 according to Consumer Technology Association.
– The strong financial position of North America has enabled organizations to invest in advanced solutions and technologies. The US is leading the charge with the rollout of the first 5G commercial networks. in 2018, trials took place in every major market worldwide with Verizon’s announced plans to launch a 5G handset in early 2019.
– In 2018, at Mobile World Congress Americas, Redbox Leverages RCS at Google’s Innovation City Booth. This is indicative of business adopting RCS as a way ahead for personalized marketing.
Explore Full Report With Detailed TOC Here:
Highlights of the Rich Communication Services Market Report:
– Detailed overview of Rich Communication Services Market
– Changing the Rich Communication Services market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Rich Communication Services market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Rich Communication Services Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Rich Communication Services Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Rich Communication Services industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
Get Exclusive Discount on this Report:
We Offer Customization On Report Based On Specific Client Requirement:
– Free Country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687