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Global Rich Communication Services (RCS) Market to Grow at a CAGR of 35.5% During 2022-2027, Aided by the Growing Smartphone Ownership Worldwide

Rich Communication Services (RCS) Market

Global Rich Communication Services (RCS) Market: By Deployment Model: On-Premise, Cloud; By Enterprise Size: Small and Medium Scale Enterprises, Others; By Applications; By Industry Vertical; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Rich Communication Services (RCS) Market Outlook

The global rich communication services (RCS) market stood at a value of around USD 2,792.59 million in 2022. The market is further expected to grow at a CAGR of 35.5% in the forecast period of 2023-2028 to attain a value of USD 16,753.73 million by 2028.

 

Global Rich Communication Services (RCS) Market

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Rising Demand for Cloud Based Deployment Model to Spearhead the Market Growth of the Global Rich Communication Services (RCS) Industry

Based on deployment model, the cloud segment is predicted to hold a significant market share in the rich communication services (RCS) industry. This growth can be attributed to the increased implementation of cloud technology owing to its beneficial properties such as improved scalability, low maintenance costs, and easy integration. In addition, the heightened demand for rich communication services in the healthcare sector, in an endeavour to make healthcare amenities more accessible to patients across the globe, is expected to further aid the market growth. These factors are expected to contribute to the overall market growth in the forecast period.

 

North America to Provide Lucrative Growth Opportunities to the Global Rich Communication Services (RCS) Industry

North America is estimated to hold a substantial share of the rich communication services (RCS) industry in the forecast period. This growth can be attributed to the presence of leading market players in the region. In addition, the growing availability of 5G network in the region is also predicted to propel the market growth. Moreover, the demand for advanced communication channels such as the demand for chatbots is also expected to add to the industry growth. Furthermore, RCS provides lucrative expansion opportunities to mobile network operators seeking to join the internet messaging and communication services bandwagon. Meanwhile, the rapid technological advancements in the Asia Pacific are anticipated to propel the market demand in the region, which is estimated to contribute to the market growth in the forecast period.

 

Rich Communication Services (RCS): Market Segmentation

Rich communication services (RCS) are mobile communication alternatives to SMS and other web-based messaging services. The RCS is a SIP and HTTP based communication channel that facilitates calling, messaging, video calling, and file transferring operations. RCS communication, just like web-based proprietary messaging services functions online, however, it also requires the phone system as in the case of SMS services. Thus, RCS provides interactive communication facilities such as in web-based communication mechanisms such as messenger and WhatsApp, while also offering the reach of SMS.

 

Global Rich Communication Services Rcs Market by Segment

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By deployment model, the market is divided into:

  • On-Premise 
  • Cloud

On the basis of enterprise size, the market can be bifurcated into:

  • Small and Medium Scale Enterprises
  • Large Scale Enterprises

Based on applications, the industry can be segmented into:

  • Rich Calls and Messaging 
  • Content Delivery (Content Sharing, File Transfer)
  • Value Added Services (VAS)
  • Marketing and Advertising Campaign 
  • Cloud Storage

On the basis of industry vertical, the market can be distributed into:

  • Healthcare 
  • Retail and E-Commerce
  • BFSI
  • IT and Telecom 
  • Travel and Tourism 
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Rich Communication Services Rcs Market by Region

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Rapid Digitalisation and the Growing Smartphone Penetration to Drive the Global Rich Communication Services (RCS) Industry

The heightened digitalisation with increased adoption of the internet of things (IoT) and increasing access to internet facilities across industries is anticipated to propel the demand for rich communication services in the coming years. According to the World Bank statistics, in 2017, 49% of the global population had access to the internet compared to 41.7% in 2015. In addition, the growing mobile phone ownership is also contributing to the market growth significantly. According to the World Bank's World Development Report of 2016, 8 out of 10 people in the developing nations owned a mobile phone, and this number is expected to steadily increase over time. Furthermore, rapid technological advancements are also expected to aid the industry growth. These factors are estimated to positively impact the market growth in the forecast period.

 

Key Industry Players in the Global Rich Communication Services (RCS) Market

The report gives a detailed analysis of the following key players in the global rich communication services (RCS) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • AT&T
  • Google LLC
  • Vodafone
  • Deutsche Telekom AG
  • Ribbon Communications Operating Company, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Deployment Model, Enterprise Size, Applications, Industry Vertical, Region
Breakup by Deployment Model On-Premise, Cloud
Breakup by Enterprise Size Small and Medium Scale Enterprises, Large Scale Enterprises
Breakup by Applications Rich Calls and Messaging, Content Delivery (Content Sharing, File Transfer), Value Added Services (VAS), Marketing and Advertising Campaign, Cloud Storage
Breakup by Industry Vertical Healthcare, Retail and E-Commerce, BFSI, IT and Telecom, Travel and Tourism, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered AT&T, Google LLC, Vodafone, Deutsche Telekom AG, Ribbon Communications Operating Company, Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Rich Communication Services (RCS) Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Rich Communication Services (RCS) Historical Market (2018-2022) 
    8.3    Global Rich Communication Services (RCS) Market Forecast (2023-2028)
    8.4    Global Rich Communication Services (RCS) Market by Deployment Model
        8.4.1    On-Premise
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Cloud
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Rich Communication Services (RCS) Market by Enterprise Size
        8.5.1    Small and Medium Scale Enterprises
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Large Scale Enterprises
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
    8.6    Global Rich Communication Services (RCS) Market by Applications
        8.6.1    Rich Calls and Messaging
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Content Delivery (Content Sharing, File Transfer)
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Value Added Services (VAS)
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Marketing and Advertising Campaign
            8.6.4.1    Historical Trend (2018-2022)
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Cloud Storage
            8.6.5.1    Historical Trend (2018-2022)
            8.6.5.2    Forecast Trend (2023-2028)
    8.7    Global Rich Communication Services (RCS) Market by Industry Vertical
        8.7.1    Healthcare
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Retail and E-Commerce
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    BFSI
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    IT and Telecom
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Travel and Tourism
            8.7.5.1    Historical Trend (2018-2022)
            8.7.5.2    Forecast Trend (2023-2028)
        8.7.6    Others    
    8.8    Global Rich Communication Services (RCS) Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2022) 
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2022) 
            8.8.2.2    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2022)
            8.8.3.2    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2022) 
            8.8.4.2    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2022) 
            8.8.5.2    Forecast Trend (2023-2028)
9    North America Rich Communication Services (RCS) Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Rich Communication Services (RCS) Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Rich Communication Services (RCS) Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Rich Communication Services (RCS) Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Rich Communication Services (RCS) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    AT&T
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Google LLC
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Vodafone
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Deutsche Telekom AG
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Ribbon Communications Operating Company, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Rich Communication Services (RCS) Market: Key Industry Highlights, 2018 and 2028
2.    Global Rich Communication Services (RCS) Historical Market: Breakup by Deployment Model (USD Million), 2018-2022
3.    Global Rich Communication Services (RCS) Market Forecast: Breakup by Deployment Model (USD Million), 2023-2028
4.    Global Rich Communication Services (RCS) Historical Market: Breakup by Enterprise Size (USD Million), 2018-2022
5.    Global Rich Communication Services (RCS) Market Forecast: Breakup by Enterprise Size (USD Million), 2023-2028
6.    Global Rich Communication Services (RCS) Historical Market: Breakup by Applications (USD Million), 2018-2022
7.    Global Rich Communication Services (RCS) Market Forecast: Breakup by Applications (USD Million), 2023-2028
8.    Global Rich Communication Services (RCS) Historical Market: Breakup by Industry Vertical (USD Million), 2018-2022
9.    Global Rich Communication Services (RCS) Market Forecast: Breakup by Industry Vertical (USD Million), 2023-2028
10.    Global Rich Communication Services (RCS) Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Rich Communication Services (RCS) Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Rich Communication Services (RCS) Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Rich Communication Services (RCS) Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Rich Communication Services (RCS) Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Rich Communication Services (RCS) Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Rich Communication Services (RCS) Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Rich Communication Services (RCS) Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Rich Communication Services (RCS) Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Rich Communication Services (RCS) Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Rich Communication Services (RCS) Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Rich Communication Services (RCS) Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Rich Communication Services (RCS) Market Structure

Key Questions Answered in the Report

What was the global rich communication services (RCS) market size in 2022?

In 2022, the global rich communication services (RCS) market attained a value of nearly USD 2,792.59 million.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 35.5% between 2023 and 2028.

What are the major industry drivers?

The major drivers of the industry includethe increased accessibility to internet facilities, rapid technological advancements such as the integration of cloud technology, rising investments in the research and development of rich communication services technology by the leading manufacturers, growing availability of 5G network and heightened demand for rich communication services in the healthcare sector.

What are the key industry trends of the rich communication services (RCS) market?

The key market trends guiding the growth of the industry include the increasing digitalisation and the growing smartphone ownership.

What are the major regional markets of rich communication services (RCS), according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the significant deployment models of the product?

The significant types include on-premise and cloud.

What are the major sizes of enterprises considered in the market?

The significant enterprise sizes include small and medium scale enterprises and large scale enterprises.

What are the major applications of the product?

The major applications include rich calls and messaging, content delivery (content sharing, file transfer), value added services (VAS), marketing and advertising campaign, and cloud storage.

What are the significant industry verticals considered in the market?

The significant industry verticals include healthcare, retail and e-commerce, BFSI, IT and telecom, and travel and tourism, among others.

Who are the key industry players, according to the report?

The major players in the industry are AT&T, Google LLC, Vodafone, Deutsche Telekom AG, and Ribbon Communications Operating Company, Inc., among others.

Analyst Review

The global rich communication services (RCS) market attained a value of USD 2,792.59 million in 2022, driven by increased digitalisation worldwide. Aided by the growing smartphone penetration and increased accessibility to internet facilities, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 35.5%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By deployment model, the market can be distributed into on-premise and cloud. On the basis of enterprise size, the industry can be segmented into small and medium scale enterprises and large scale enterprises. Based on applications, the market can be categorised into rich calls and messaging, content delivery (content sharing, file transfer), value added services (VAS), marketing and advertising campaign, and cloud storage. On the basis of industry vertical, the industry can be segregated into healthcare, retail and e-commerce, BFSI, IT and telecom, and travel and tourism, among others. The major regional markets for rich communication services (RCS) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include AT&T, Google LLC, Vodafone, Deutsche Telekom AG, and Ribbon Communications Operating Company, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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