Cloud Segment is Expected to Dominate the Global Rich Communication Services Market
The
market's expansion is attributed to the ongoing trend of online gaming, the
emergence of high bandwidth network connectivity, and the continuous demand for
3D games.
According
to TechSci Research report, “Global Rich Communication Services Market - By
Country, Competition, Forecast & Opportunities, 2028”. The Global Rich Communication Services Market is
anticipated to project robust growth in the forecast period with a CAGR of 12.35
% through 2028. 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. North America region is home to one
of the highest penetration of smartphones and SMS application users in the
world. According to CTIA, in 2019, 99.7% of the US population lives in areas
that are covered by 4G LTE; moreover, according to Ericsson, in 2019, a number
of smartphone subscriptions in the region stood at 320 million and expected to
reach 360 million by 2025. In addition to this, 74% of North American mobile
subscriptions are expected to be for 5G in 2025, and in 2019 the region boasted
91% LTE penetration. Owing to such adoption rates, the region is expected to
command significant demand for various smartphone communication applications.
With
a vast network of the potential user base, various vendors are increasingly
offering their RCS in the region. In November 2019, Google rolled out RCS
support to android messages users across the US. In addition to this, during
the year, four major US carriers, Verizon, AT&T, Sprint, and T-Mobile,
joined forces to deliver RCS messaging in the country for an android smartphone
in 2020.
The
strong financial position of North America has enabled organizations to invest
in advanced solutions and technologies. The United States 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 plans to launch a 5G
handset in early 2019.
In
2018, at Mobile World Congress Americas, Redbox leveraged RCS at Google's
Innovation City Booth. This is indicative of businesses adopting RCS as a way
ahead for personalized marketing.
Browse
over xx market data Figures spread through 180 Pages and an in-depth TOC on "Global Rich Communication Services Market.”
Latest Investments in the Market :-
- May
2020 - Mavenir announced its Mobile Business Messaging Cloud in Europe
completed peer-to-peer (P2P) RCS interconnection with the networks of
Telefónica, Vodafone, and Deutsche Telekom Germany.
- February
2021 - Telefónica is working with Mavenir and Amazon Web Services (AWS) on a
pre-commercial managed IoT connectivity service that the operator expects to
offer using Manevir's packet core solution and AWS's cloud infrastructure.
- February
2021 - Deutsche Telekom and Ericsson test autonomous energy supply for mobile
sites aimed at reducing carbon footprint and saving energy costs.
Key market players in the Global Rich Communication
Services Market include:
- Google
- Samsung
- Huawei
- AT&T
- Verizon
- T-Mobile
- Telefonica
- Sprint
(now part of T-Mobile)
- Vodafone
Group
- Orange
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“RCS
can benefit banks to a great extent as it will let them include a horizontally
scrollable carousel of up to 10 vertical rich cards, branch locator, suggestive
replies, and many more. Some important features of the RCS Business Messaging
which make the technology well suited for banks are deep-linking for web-based
campaigns and/or emails. It also encompasses features like read recipients,
delivery receipts, on-screen event tracking, and customized information of
customers on the basis of their responses to a message. With the advent of 5G,
the global demand for RCS is expected to see exponential growth owing to
reduced latency, data, and delivery issues of media content; various telecom
operators are expected to offer RCS as part of their 5G services over the
coming years. Currently, a large share of the active RCS users is limited to
the United States, South Korea, Japan, Germany, where operators are offering
the service; along with these countries, Mexico, United Kingdom and France are
also at the forefront due to an ongoing effort by Google. These demographics
are expected to change rapidly, with strong 5G support over the coming years..”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
Rich Communication Services Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented By Deployment Model (On-premises, Cloud),
By Enterprise Size (Small & Medium Enterprises and Large Enterprises), By
Application (Rich Calls & Messaging, Content Delivery, Value Added
Services, Marketing & Advertising Campaign, and Cloud Storage), By Region,
Competition 2018-2028has
evaluated the future growth potential of Portable Rich Communication Services Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Portable Rich
Communication Services Market.
Contact
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