Rich Communication Services Market Scope
Rich Communication Services (RCS) is a communication protocol that helps to carry the data between mobile device and the communication carrier aiming to exchange simple text-message with more rich content such as video, voice over IP (VoIP), chat, and file sharing. These services are broader IP multimedia subsystem. It is a next-generation SMS protocol that opens more doors for customer engagement, marketing, and sales. RCS business messaging enables organizations of all sizes to create truly branded conversations across networks and sent to any device. This has driven the demand for the rich communication services market.
The market study is being classified by Type (Chat, Content Sharing, VoIP, IP Video Call and File Transfer), by Application (Advertising Campaign, Content Delivery and Integrated Solutions) and major geographies with country level break-up. According to AMA, the Global Rich Communication Services market is expected to see growth rate of 21.68% and may see market size of USD17752.11 Million by 2024.
In Rich Communication Services Market, it has been observed that most of the companies are upgrading or introducing innovative services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.The Players having a strong hold in the market are Google, China Mobile Limited, AT&T Inc., Vodafone, Verizon. Research Analyst at AMA predicts that North America and Europe Players will contribute to the maximum growth of Global Rich Communication Services market throughout the predicted period.
Google LLC (United States), China Mobile Limited (Spain), AT&T Inc. (United States), Sprint Corporation (United States), Deutsche Telekom AG (Germany), Vodafone Group plc (United Kingdom), Verizon (United States), Telefonica (United States), Orange Business (United States), KDDI (Japan), Slovak Telekom (Slovakia), TELIT (Italy), SK Telecom (South Korea), Telstra (Australia), LG U+ (South Korea), Celcom (Malaysia), Freedom Mobile (Canada), Rogers (Canada), T-Mobile (United States) and O2 (United Kingdom) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Rich Communication Services market by Type, Application and Region.
On the basis of application, Advertising Campaign segment is dominating the market in the year 2018 where as Content Delivery segment stood as second largest market.
On the basis of geography, the market of Rich Communication Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In March 2019, Telefonica entered into the partnership with CK Hutchison, the renowned multinational conglomerate. This partnership aims to offer fixed, mobile, and other digital communication services to large enterprises and Multinational Companies (MNCs). and In December 2018, Telefonica Deutschland extended its partnership with Telefonica International Wholesale Services (TIWS). As per the deal, TIWS would be responsible for Telefonica Deutschlandís all international and IPX services.
In November 2019, Google announced that it is now rolling out to all of its users in the U.S. support for Rich Communication Services messages (you can think of it as the next generation of SMS) in the Android Messages app, after already testing it with a small set of users in recent months. and In November 2017, China Mobile launched a suite of Rich Communication Services (RCS), placing it in direct competition with messaging firm Tencent. The operator will provide enhanced messaging services under its new 4G+Smart brand. Based on GSMA RCS standards, the services will enable users to chat as well as share files and high-resolution images.
- The Trend for High-Quality Messaging and Content Management
- Increasing Number of Advertising and Marketing Companies
- Penetration of Smart Phones in the Market
- Strict Regulations for OTT Messaging Services to Boost the Adoption of RCS
- Direct Association of the Service Providers
- Limited Capability to Offer End-To-End Encryption
- Lack of Interoperability Between OEMs and Carrier Networks
Key Target AudienceRich Communication Services Providers, End-User Industry, Cloud Service Providers, Small & Medium-Sized Enterprises, Large Enterprises and Investors
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