Growing at 34.7% CAGR | The Rich Communication Services Market Reach USD 12.27 Billion Globally by 2027

According to the report published by Allied Market Research, Growing at 34.7% CAGR | The Rich Communication Services Market Reach USD 12.27 Billion Globally by 2027. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Growing awareness about the benefits of RCS over existing OTT services, rise in number of online marketing & advertising companies among small and medium enterprises, development of voice over long term evolution technology (Vo-LTE) along with mobility service, and surge in adoption of cloud-based services for managing mobile content drive the global rich communication services market. On the other hand, limited end to end encryption solutions and increasing competition over over-the-top (OTT) platforms restrain the growth to some extent. However, penetration of 5G networks and smartphones across the globe is expected to usher in an array of opportunities in the industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 257 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/3916

The global rich communication services market size was valued at $1,155 million in 2019, and is projected to reach at $12,279 million by 2027, growing at a CAGR of 34.7% from 2020 to 2027.

The rich communication services market is segmented on the basis of deployment model, enterprise size, application, industry vertical, and region. By deployment model, it is bifurcated into on-premise and cloud. By enterprise size, it is divided into small & medium enterprises and large enterprises. By application, it is categorized into rich calls & messaging, content delivery (content sharing, file transfer), value added services (VAS), marketing & advertising campaign, and cloud storage. By industry vertical, it is classified into healthcare, retail & e-commerce, BFSI, IT & telecom, travel & tourism, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐬𝐮𝐦𝐦𝐚𝐫𝐲 𝐚𝐭 : https://www.alliedmarketresearch.com/rich-communication-services-market

Based on deployment type, the cloud segment accounted for more than half of the global rich communication services market share in 2019, and is projected to lead the trail by 2027. The same segment would also exhibit the fastest CAGR of 36.4% during the forecast period. Rise in adoption of cloud-based RCS solution among both large and mid-sized enterprises propels the segment growth.

Based on organization size, the large enterprises segment contributed to nearly three-fifths of the global rich communication services market revenue in 2019, and is anticipated to rule the roost by 2027. The implementation of rich communication service is helping IT & telecommunication teams of large enterprises to change the way of communication with messaging, which can deliver rich content. This factor is driving the growth of the segment. The SME's segment, on the other hand, would register the fastest CAGR of 36.6% throughout the forecast period. Growing focus on sharing rich content and rise in awareness about the benefits of audio visual messaging across SMEs fuel the segment growth.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/3916

Based on geography, North America held the major share in 2019, generating around two-fifths of the global rich communication services market, due to high penetration of 5G network and growing use of artificial intelligence (AI) & other smart connected devices in the continent. Simultaneously, the Asia-Pacific segment would grow at the fastest CAGR of 39.8% from 2020 to 2027, owing to increasing demand for rich communication service across the province.

The key rich communication services industry players profiled in the report are AT&T Inc., Vodafone Idea Limited, Google LLC/Alphabet Inc., Verizon Communications Inc., Deutsche Telekom AG, China Mobile, Ericsson, Huawei Technologies Co. Ltd, ZTE Corporation, and SK Telecom. This study includes market trends, rich communication services market analysis, and future estimations to determine the imminent investment pockets.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3916

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨-

● The outbreak of the pandemic led to rise in demand for rich communication services, since health organizations across the world chose to communicate more effectively with public.

● Also, the demand for A2P communication has increased to a significant extent, which in turn has strengthened the global market for rich communication services.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟓𝟎% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (257 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/rich-communication-services-market/purchase-options

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