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The global rich communication services (RCS) industry is being driven by the rising digitalisation and the increasing smartphone penetration. In addition, the increasing accessibility to internet amenities is also estimated to significantly contribute to the market growth in the forecast period. Moreover, the heightened demand for remote accessibility in healthcare facilities is estimated to aid the market growth in the coming years, and this demand increased during the outbreak of COVID-19, owing to the stringent lockdown restrictions that regulated mobility across the globe. Furthermore, the increased adoption of rich communication services by large enterprises is anticipated to propel the market growth in the forecast period.
The increasing demand for advanced communication solutions is inviting healthy investments from the leading market players, who are developing innovative communication mechanisms through collaborations and mergers. This is predicted to aid the market growth in the forecast period. For instance, in July 2021, Verizon Communications (NYSE: VZ) announced the collaboration with Google LLC, a subsidiary of Alphabet Inc. (NASDAQ: GOOGL), to expand its advanced messaging services to android users in the US through the Messages by Google app. This messaging technology utilises the rich communication services (RCS), which offers a more modern and interactive communication experience. These developments are expected to positively impact the growth of the rich communication services (RCS) industry in the forecast period.
Market Breakup by Deployment Model, Enterprise Size, Application, Industry Vertical, and Region:
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The major players in the global rich communication services (RCS) market are AT&T, Google LLC, Vodafone, Deutsche Telekom AG, and Ribbon Communications Operating Company, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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