Rich Communication Services (RCS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Rich Communication Services (RCS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A5124
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Market Overview:

The global rich communication services (RCS) market reached a value of US$ 1,210.90 Million in 2021. Looking forward, IMARC Group 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.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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:

IMARC Group 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:

 

 
 

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  • 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:

 

 
 

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Communication Type, Deployment Mode, Organization Size, Application, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Rich Communication Services (RCS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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