Post Covid-19 Update:Rich Communication Services (Rcs) Market To Reach USD 27.9 Billion By 2027 | CAGR 30.2% — Forencis Research
Global Rich Communication Services (RCS) Market: Key Highlights
- According to the new market research report “Rich Communication Services (RCS) Market by Deployment Type (Cloud-Based and On-Premises Based), by User Type (Consumer, Enterprise and Small and Medium-Sized Enterprises (SME)), by Application (Integrated Solutions, Content Delivery, Advertising Campaign and Others), by End-Use (BFSI, Retail, Media & Entertainment, Healthcare and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Rich Communication Services (RCS) Market is estimated to reach USD 27.9 Billion by 2027 at a CAGR of around 30.2% during the review period.
- The rich communication services helps to enabled enriched communication services beyond a text message and a solution for the user with live video, instant messaging and file sharing across various devices
- Moreover, it also provides advanced communication between the third party users with it wide range of services such as Chabot, artificial intelligence and other applications.
Global Rich Communication Services (RCS) Market: Key Market Dynamics
- With the growing demand for promotion and marketing activities is witness to increase performance and efficiency of the market in the forecast period. It helps organizations to enhance the customer experiences and increase the brand value.
- One of the major key concern of the rich communication services (RCS) market is the end-to-end encryption issues. As sensitive information send through RCS is not fully protected, there is case of data to be steal the sell information.
- RCS benefits the organizations for activating a new products, special offers is a cost effective and with a highly advance marketing method. These will lead to fuel the growth of the rich communication services market in the forecast period.
- With the rising demand of smartphones is excepted to fuel the growth of the market in the forecast period as it will lead demand for communications through messaging.
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Global Rich Communication Services (RCS) Market: Regional Overview
The Asia-Pacific region is one of the top player in the growth of the rice communication services market. As the region have the highest demand in smartphone as well as the mobile payment system. The region is at the initial stage in the adoption of new technologies to boost the financial as well as the government sector. Moreover, the government of China has also taken an initiative to transform the manufacture sector and the new generation information technology with the advance machine tools and robotics.
Hence, Asia-Pacific is witness to increase the demand for the market as it has large economic like Japan and China with the advance technology growth
According to the European Commission, the EU digital strategy is aims to boost the citizens and businesses to target its digital transformation growth. According to the Alliance for Internet of Things Innovation, in 2018 the European commission has introduce its new plans for Horizon Europe to enhance research and innovation programs and digital European programme. Also the region has taken an initiative for the deployment of the digital infrastructure to improve the industrial and financial performance.
Hence, region is one of the major player in the growth of technology market, which will lead to enhance the growth of the Rich Communication Services (RCS) market.
Global Rich Communication Services (RCS) Market: Key Players Overview
- Vodafone Group
Vodafone Group is a multinational telecommunication company which operate its service in the region of Asia, Europe, Africa and Oceania. In 2018, the Infobip has partnership with the Vodafone which is a part of GSMA RCS initiatives to upgrade the B2C communication and to enhance the user experience. As well as the UK based Vodafone has also partner with RCS messaging solution to its enterprise market with the help of Infobip. Moreover, the company is taking an initiative for messaging on Rich Communication Services (RCS) for the business and consumer.
Verizon is a telecommunications company which provides wireless products and services. The company has one of the largest social telephone in the United States which operate in more than 60 million telephone lines in various states. In 2018, the company has launched RCS messaging for the Google Pixel 3 and 3 XL. Whereas the company advanced messaging provides a next generation of messaging services which is anticipate to replace the SMS.
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