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Rich Communication Services (RCS) Market Analysis 2023 : Market Growth Rate, Competitive Landscape And Top Opportunities | AT&T Inc., Vodafone Idea Limited, Deutsche Telekom AG
Rich Communication Services (RCS) Market Analysis 2023
The Business Research Company's Rich Communication Services (RCS) Global Market Report 2023 identifies The increasing adoption of mobile service subscribers as the major driver for the Rich Communication Services (RCS) market's growth in the forecast period. Mobile service subscribers refer to individuals or companies that have signed up for a mobile phone service supplied by a mobile network operator and have access to services such as voice calls, text messaging, and data services on their mobile devices. Rich communication services (RCS) have the potential to promote mobile service subscriber uptake by providing a more engaging, interactive, and feature-rich messaging experience than traditional SMS texting.
The global rich communication services (RCS) market size is expected to grow from $4.10 billion in 2022 to $5.55 billion in 2023 at a compound annual growth rate (CAGR) of 35.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global rich communication services (RCS) market size is expected to reach $18.43 billion in 2027 at a CAGR of 35.01%.
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Major competitors in the Rich Communication Services (RCS) market are AT&T Inc., Vodafone Idea Limited, Deutsche Telekom AG, Google LLC, Verizon Communications Inc.
Technological advancement is a key trend gaining popularity in the rich communication services (RCS) market. Companies operating in the rich communication services (RCS) market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Kirusa, a US-based communication solutions provider, launched the RichOTP service. With RichOTP, companies can send secure OTPs to their customers' mobile devices through the messaging app, which provides a more reliable and secure method than traditional SMS messaging. The service is designed to make it easier for companies to deliver OTPs, essential for secure transactions and account verification.
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The Rich Communication Services (RCS) market is segmented -
• By Type: Application-to-Person (A2P), Person-To-Application (P2A), Person-to-Person (P2P)
• By Development Model: On-Premise, Cloud
• By Enterprise Size: Small And Medium Enterprises, Large Enterprises
• By Application: Rich Calls And Messaging, Content Delivery, Value Added Services, Marketing And Advertising Campaign, Cloud Storage
• By Industrial Vertical: Healthcare, Retail And E-commerce, Banking, Financial Services and Insurance (BFSI), IT And Telecom, Travel And Tourism, Other Industrial Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Rich Communication Services (RCS) market.
The Business Research Company's "Global Rich Communication Services (RCS) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Rich Communication Services (RCS) Market Include:
1. Executive Summary
2. Rich Communication Services (RCS) Market Characteristics
3. Rich Communication Services (RCS) Market Trends And Strategies
4. Rich Communication Services (RCS) Market - Macro Economic Scenario
5. Rich Communication Services (RCS) Market Size And Growth
……
26. Africa Rich Communication Services (RCS) Market
27. Rich Communication Services (RCS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rich Communication Services (RCS) Market
29. Rich Communication Services (RCS) Market Future Outlook and Potential Analysis
30. Appendix
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