Rich communication services, or RCS, is a text-based protocol designed for mobile devices as a smarter alternative to short message services (SMS) and multimedia messaging services (MMS). It allows individuals to create group chats with friends, get read receipts, have support for end-to-end encryption, and send attachments, such as images and videos. It also offers more interactive messaging, higher-targeted communication to reach users, security, better streaming of audio and video, one app functionality, and enhanced sender verification. As a result, RCS services are rapidly gaining traction across various industries, including banking, financial services and insurance (BFSI), healthcare, information technology (IT), hospitality, and entertainment.
|Base Year: 2021|
|Forecast Year: 2022-2027|
According to the latest report by IMARC Group, titled “Global Rich Communication Services Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027″, 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.
Rich Communication Services Market Trends and Drivers:
The global rich communication services market is primarily driven by the growing usage of mobile devices and the escalating demand for communication via messaging. Additionally, the widespread adoption of RCS for peer-to-peer (P2P) messaging, marketing, campaigning, and advertising strategies in the corporate sector is another major growth-inducing factor.
Furthermore, the increasing integration of RCS with innovative solutions, such as cloud-based, artificial intelligence (AI), voice over long-term evolution (VO-LTE), and application programming interface, to promote next-gen messaging and chatbot interaction, has accelerated the product adoption rate.
Other factors, including the advent of 5G technology, rising investments in the long-term evaluation (LTE) and IP multimedia subsystem (IMS), and technological advancements, are also anticipated to propel market growth in the coming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Rich Communication Services Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Global Message Services
Google LLC (Alphabet Inc.)
Huawei Technologies Co Ltd
SK Telecom Co Ltd
Telefonaktiebolaget LM Ericsson
Telstra Corporation Limited
T-Mobile US Inc.
Verizon Communications Inc.
Vodafone Group PLC,
The report has segmented the market on the basis of region, communication type, deployment mode, organization size, application and industry vertical.
Breakup by Communication Type:
Breakup by Deployment Mode:
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Application:
- Rich Calls and Messaging
- Cloud Storage
- Marketing and Advertising Campaign
- Content Delivery
Breakup by Industry Vertical:
- Retail and E-commerce
- IT and Telecom
- Travel and Tourism
Breakup by Region:
- 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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