A recent report published by Infinium Global Research on the rich
communication services (RCS) market provides an in-depth analysis of segments and
sub-segments in the global as well as regional rich communication services (RCS)
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional rich communication services (RCS) market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecasts, and dollar values of the global rich communication
services (RCS) market. According to the report, the global rich communication
services (RCS) market is projected to grow at a CAGR of 20.2% over the forecast
period of 2020-2026.
Rich Communication Services is the platform that improves the
functionality of messaging application that is pre-installed in mobile phones. Additionally, advanced features such as video calls, media sharing, location sharing, and
many other features provided by the rich communication services are likely to
gain market traction. This is designed as a modern take on texting that rolls
features from Facebook Messenger, iMessage,
and WhatsApp into one platform. The outbreak of COVID-19 is less
likely to affect the growth of the Rich Communication Services market. As the
service is more valuable and competitive with popular, feature-rich messaging
apps, smartphone manufacturers, carriers, and the cell phone industry’s
governing agencies will shift towards Rich Communication Services (RCS)
protocol.
Moreover, the high penetration rate of smartphones is one of the
major factors augmenting the market. In 2020, it is estimated that the number
of Smartphone users in the world is near about 3.5 billion. Moreover, mobile
manufacturers, telecom vendors, and third-party application providers are
equally supported by rich communication services and are likely to have a positive
impact on market growth. Furthermore, RCS plays a major role in the marketing
and advertising efforts in order to provide more authentic engagement
opportunities that are another factor boosting the market growth. The
increasing popularity about over the top (OTT) services is one of the
challenges that the market players have to address over the past few years.
Several communications vendors have been partnered with various telecom
operators to provide rich multimedia content to their customers. This creates
greater growth opportunities for the market. For instance, in 2019, Karix
Mobile, Service Providers of unified communication solutions had partnered with
Google and Reliance Jio Infocomm to support Rich Communication Services.
Among the region, the global Rich Communication Services market is
segmented into North America, Europe, Asia Pacific, and Row. North America is
accounted to hold a substantial share in the global rich communication market
due to the presence of numerous RCS market players and the high adoption rate
of advanced technologies in this region. The U.S. is expected to lead the 5G rollout, of the first 5G commercial networks. The Asia Pacific is expected to have
the fastest-growing region in the global market over the forecast years. The developing
countries such as China, Japan, South Korea, and India primarily power the market
growth in this region. Additionally, growth in population, rising disposable
income along with increasing Smartphone users, and the use of advanced SMS
systems for marketing are some factors that contribute to the market growth.
Furthermore, it is estimated that India had 502.2 million Smartphone users as
of December 2019.
The report on the global rich communication services (RCS) market
covers segments such as communication type, deployment, and services. On the
basis of communication type, the sub-markets include A2P, P2A, and P2P. On the
basis of deployment, the sub-markets include cloud and on-premise. On the
basis of services, the sub-markets include content sharing, IP video call, VoIP, file transfer, and chat.
The report provides profiles of the companies in the market such
as Acision, Orange S.A., Comverse Technology, Inc., SK Telecom Co., Ltd, Xura,
Inc., Vodafone Group plc, SAP America Inc, Nokia Networks, Huawei Device Co.,
Ltd., and Mavenir.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the rich
communication services (RCS) market. Moreover, the study highlights current
market trends and provides forecast from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.