Global Rich Communication Services Market Projected to Reach USD 44,778.17 Million by 2026

24-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Rich Communication Services Market By Services (Content Sharing, IP Video Call Chat, VOIP, and File Transfer), By Deployment Type (On-premise, Cloud), by End User (Enterprise and Consumer): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026’’ states that the global Rich Communication Services Market in 2019 was approximately USD 3,234.24  Million. The market is expected to grow at a CAGR of 45.56% and is anticipated to reach around USD 44,778.17 Million by 2026.

Rich Communication Services Market Size

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RCS Messaging is the upgraded version of SMS and the next evolution of mobile engagement on a global scale. Mobile has become a platform and is no longer limited to sending simple text. RCS is an advanced messaging standard that is designed to significantly improve the functionality of messaging app that comes pre-installed on mobile phones. In addition, RCS offers higher quality picture messaging up to 10MB in size, location sharing, group chats, and even video calls along with text messages. The service also supports typing indicators and read receipts features that are similar to other messaging services. RCS platform comes with numerous features and helps businesses to deliver intuitive, incredibly impactful, and interactive operations to their customers while maintaining the reliability, reach, and ubiquity of the biggest messaging platform in the world.

Browse the full “Rich Communication Services Market By Services (Content Sharing, IP Video Call Chat, VOIP, and File Transfer), By Deployment Type (On-premise, Cloud), by End User (Enterprise and Consumer): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026 " https://www.fnfresearch.com/rich-communication-services-market-by-services-content-sharing-918

The global market for rich communication services is growing at a significant rate owing to its various benefits such as instant messaging, content sharing, chat, IP video calls, document exchange, VoIP, and others. These services allow consumers to interact with one another with the help of instant chat or messaging and also for live video or sharing files across devices and on any network. Further, factors such as rising mobile subscriptions, growing investments in IMS and LTE, increasing demand for mobile value-added services, and the huge impact of social networks are driving the market for rich communication services significantly. Furthermore, a rich communication service has widespread support from some of the major players in the industry such as Google which has enabled RCS on its few Android devices and also offers universal client and cloud services via Jibe to help mobile operators and providers deploy RCS and connect to the global RCS network without designing their own infrastructure. However, the lack of awareness among organizations about the deployment and usage of services is retraining the growth of the market.

The global rich communication services market is segmented into services, deployment, end-user, and regions. Based on services, the global rich communication service market is bifurcated into content sharing, IP video call chat, VoIP, and file transfer. On-premise and cloud is the deployment segment of the global rich communication service market. Furthermore, on the basis of end-user, the market for rich communication services is divided into enterprise and consumer.

On the basis of geography, the market for rich communication services is classified into Asia Pacific, North America, Europe, Latin America, and MEA. The Asia Pacific dominated the market for rich communication services with more than 48.09% market share in the analysis period. The region also emerges as one of the fastest-growing regions in the forecast period. The growth in this region is due to the higher adoption of RCS services and the presence of major as well as startup vendors in countries such as China, Japan, and India. North America is another leading region for the rich communication service market owing to rapid technological advancements.

The key players contributing to the global rich communication services market are Alcatel-Lucent S.A.., Interop Technologies, Ericsson, Nokia Networks, Genband Inc., Mavenir Systems, and Vodafone Group Plc. Huawei Device Co., Ltd., Orange S.A., Xura Inc., SAP America Inc., SK Telecom, SAP Comverse, and Acision among others.

Report Scope

Report Attribute

Details

Market Size in 2019

USD 3234.24 Million

Projected Market Size in 2026

USD 44778.17 Million

CAGR Growth Rate

45.56% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Alcatel-Lucent S.A.., Interop Technologies, Ericsson, Nokia Networks, Genband Inc., Mavenir Systems, Vodafone Group Plc. Huawei Device Co., Ltd., Orange S.A., Xura Inc., SAP America Inc., SK Telecom, SAP Comverse, and Acision among others.

Key Segment

By Services, By Deployment, By End User, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The report segments the rich communication services market as follows:

Rich Communication Services Market: Service Segment Analysis

  • Chat
  • Content Sharing
  • VoIP
  • IP Video Call
  • File Transfer

Rich Communication Services Market: Deployment Segment Analysis

  • Cloud
  • On-premises

Rich Communication Services Market: End User Segment Analysis

  • Enterprise User
  • Consumer

Rich Communication Services Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

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