Global Rich Communication Services Market, By Type (P2P, A2P, P2A), Solution (VoIP, Social Presence Information, File Transfer/Content Sharing, Web Conferencing, SIP Options/Presence Based Capability Exchange, Online Storage, Unified Messaging, Multimedia, Other Solutions), Application (Cloud Storage/Access, VoLTE, Rich Calls and Messaging, Mobile Commerce, Value Added Services (VAS), Other Applications), Deployment (Cloud, On-Premise), Enterprise Size (SME’s, Large enterprises), User Type (Enterprise User, Consumer), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa), Industry Trends and Forecast to 2029
Market Analysis and Insights of Rich Communication Services Market
Rich communication services market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to rise up to the USD 50.4 million by 2029 and to grow at a CAGR of 30.8% in the above-mentioned forecast period.
Rich communication services or RCS is basically a successor to SMS that generally supports features such as the typing indicators, read receipts, improved group chats, and high-quality images. The rich communication services relies on a standard called Universal Profile, which defines a way to tell other phones that it can spend and receive rich communication services.
The factors such rising levels of interoperability and global collaboration between the carriers, adoption of high speed broadband, introduction of apps and growing B2B services, provision of multimedia services and differentiated data are expected to emerge as the significant factors accelerating the growth of rich communication services market in the forecast period of 2022 to 2029. In addition to this, the provision of solution to consumer and enterprises while helps in generating more revenues, the direct association of the service providers along with the ongoing efforts to regulate OTT messaging will further aggravate the growth of the rich communication services market in the above-mentioned forecast period. However, the lack of awareness regarding deployment and usage along with rising competition among the players are projected to result as a growth restraint for the market which will further hamper the market’s overall growth.
The investments in the field of advertising and marketing and recent developments associated with Android phones enabling RCS messaging is widely used across countless applications from banking to shopping are also anticipated to generate lucrative opportunities for the rich communication services market in the forecast period of 2022 to 2029. The interoperability and privacy concerns due to lack of end-to-end encryption will pose as a challenge for the rich communication services market.
This rich communication services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Rich communication services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Rich Communication Services Market Scope and Market Size
The rich communication services market is segmented on the basis of type, application, deployment, enterprise size, solution and user type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, rich communication services market has been segmented into P2P, A2P and P2A.
- On the basis of application, market has been segmented into cloud storage/access, VoLTE, rich calls and messaging, mobile commerce, value added services (VAS) and other applications.
- On the basis of deployment, market has been segmented into cloud and on-premise.
- On the basis of enterprise size, market has been segmented into SME’s and large enterprises.
- Rich communication services market on the basis of solution has been segmented as VoIP, social presence information, file transfer/content sharing, web conferencing, SIP options/presence based capability exchange, online storage, unified messaging, multimedia and other solutions.
- On the basis of user type, rich communication services market has been segmented into enterprise user and consumer.
Rich Communication Services Market Country Level Analysis
The rich communication services market is analyzed and market size, volume information is provided by type, application, deployment, enterprise size, solution and user type as referenced above.
The countries covered in the rich communication services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the rich communication services market during the forecast period owing to the high penetration of 5G network and growing use of artificial intelligence (AI) & other smart connected devices and the surge in need of next-generation messaging service in the region in the forecast period of 2022 to 2029. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to the increasing adoption of these services and growing number of start-ups in the region.
The country section of the rich communication services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Rich Communication Services Market Share Analysis
The rich communication services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Rich communication services market.
Some of the major players operating in the rich communication services market report are SAP SE, ALE International, Huawei Device Co., Ltd., Telefonaktiebolaget LM Ericsson, Nokia, Mavenir, Ribbon Communications Operating Company, Inc., INTEROP TECHNOLOGIES, Vodafone Group, D2 Technologies Inc., AT&T Intellectual Property, GOOGLE, DEUTSCHE TELEKOM AG, China Mobile Limited, HUAWAI TECHNOLOGIES CO. LTD., ZTE CORPORATION, VERIZON, ZTE CORPORATION and Myriad Group AG., among others.
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