Rich Communication Services (RCS) Market Report 2024: Strategies And Recent Developments | AT&T Inc., Vodafone Idea Limited, Deutsche Telekom AG, Google LLC, Verizon Communications Inc

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2643

The Business Research Company offers in-depth market insights through Rich Communication Services (RCS) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The rich communication services (rcs) market size has grown exponentially in recent years. It will grow from $5.55 billion in 2023 to $7.5 billion in 2024 at a compound annual growth rate (CAGR) of 35.3%. The growth in the historic period can be attributed to shift from sms to rich media, smartphone proliferation, mobile internet accessibility, consumer demand for enhanced messaging, collaboration between mobile operators.

The rich communication services (rcs) market size is expected to see exponential growth in the next few years. It will grow to $25.15 billion in 2028 at a compound annual growth rate (CAGR) of 35.3%. The growth in the forecast period can be attributed to 5g network rollout, increased focus on customer engagement, integration with chatbots and ai, rise of conversational commerce, global expansion of rcs ecosystem. Major trends in the forecast period include advancements in mobile network technologies, integration with business communication, carrier partnerships and rcs rollouts, multichannel communication platforms.

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Market Segmentation:
The rich communication services (rcs) market covered in this report is segmented -

1) By Type: Application-to-Person (A2P), Person-To-Application (P2A), Person-to-Person (P2P)
2) By Development Model: On-Premise, Cloud
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Rich Calls And Messaging, Content Delivery, Value Added Services, Marketing And Advertising Campaign, Cloud Storage
5) By Industrial Vertical: Healthcare, Retail And E-commerce, Banking, Financial Services and Insurance (BFSI), IT And Telecom, Travel And Tourism, Other Industrial Verticals

Major Driver - Rising Mobile Service Subscribers Propel The Rich Communication Services (RCS) Market
The increasing adoption of mobile service subscribers is anticipated to drive the growth of the rich communication services (RCS) market. 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. For instance, in February 2023, according to the Office of Communications, a UK-based intergovernmental organization, the overall number of active UK mobile subscribers was 83.25 million at the end of March 2022. This is equivalent to a 2% rise starting in March 2021. Therefore, the increasing adoption of mobile service subscribers is driving the growth of the rich communication services (RCS) market.

Competitive Landscape:
Major companies operating in the rich communication services (rcs) market report are AT&T Inc., Vodafone Idea Limited, Deutsche Telekom AG, Google LLC, Verizon Communications Inc., SK Telecom Co. Ltd., ZTE Corporation, Global Message Services, HRMavenir Systems Inc., Infobip Ltd., Huawei Technologies Co. Ltd., T-Mobile Inc., Ericssion, Reliance Jio Infocomm Limited, Swisscom AG, Telefónica S.A., Bell Canada Enterprises Inc., TELUS Communications Inc., Rogers Communications Inc., China Mobile Communications Corporation, NTT Docomo Inc., SoftBank Group Corporation, KDDI Corporation, KT Corporation, LG Uplus Corp., Singapore Telecommunications Limited, StarHub Limited, M1 Limited, True Corporation Public Company Limited, TOT Public Company Limited, Total Access Communication PCL (DTAC), Advanced Info Service Public Company Limited

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Top Trend - Innovative Technological Advances Revolutionizing The Rich Communication Services (RCS) Market
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.

The Table Of Content For The Market Report 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
…..
27. Rich Communication Services (RCS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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