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Rich Communication Services (RCS) Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Rich Communication Services (RCS) Global Market Report 2025
The rise in mobile service subscribers is projected to fuel the expansion of the rich communication services (RCS) market. Mobile service subscribers are either individuals or businesses who have registered for a mobile phone service offered by a mobile network provider, enabling them access to features such as voice calls, text messaging, and data services on their mobile devices. Rich communication services (RCS) can enhance the uptake of mobile service subscribers by offering a more immersive, interactive, and advanced messaging option compared to traditional SMS messaging. For example, according to the UK-based intergovernmental organisation, the Office of Communications, the total number of active UK mobile subscribers in February 2023 reported 83.25 million by the end of March 2022, a 2% increase from March 2021. Hence, the burgeoning adoption of mobile service subscribers propels the development of the rich communication services (RCS) market.
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What is the future CAGR of the rich communication services (rcs) market, and how will it impact industry expansion?
In recent years, the market size for rich communication services (RCS) has seen a considerable increase. The market is projected to expand from $7.5 billion in 2024 to $10.14 billion in 2025, representing a compound annual growth rate (CAGR) of 35.1%. The surge during the historical period is associated with the transition from SMS to rich media, the widespread use of smartphones, accessible mobile internet, the increasing consumer demand for advanced messaging, and the collaboration among mobile operators.
The market size for rich communication services (RCS) is projected to undergo tremendous growth in the coming years, reaching a value of "$34.39 billion by 2029 with a compound annual growth rate (CAGR) of 35.7%. This predicted expansion in the forecast period can be linked to the deployment of 5g networks, an enhanced focus on customer interaction, the incorporation of chatbots and AI, emergence of conversational commerce, and the world-wide development of the RCS ecosystem. Key trends expected throughout the forecast period encompass advancements in mobile network technologies, the integration with business communication, collaborations between carriers and RCS rollouts, as well as multichannel communication platforms.
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What are the most significant trends transforming the rich communication services (rcs) market today?
The increasing developments in technology is an emerging trend that's attracting attention in the rich communication services (RCS) market. Businesses in this RCS market are embracing innovative technologies to maintain their market standing. To exemplify, in September 2022, Kirusa, an American company offering communication solutions, introduced the RichOTP service. RichOTP enables businesses to deliver secure OTPs to their clients' mobile devices via the messaging application, presenting a method that's more dependable and secure compared to the conventional SMS. This service aims to simplify the process for businesses to provide OTPs, which are crucial for secure transactions and verifying accounts.
Which key market segments comprise the rich communication services (rcs) market and drive its revenue growth?
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
Subsegments:
1) By Application-To-Person (A2P): marketing Messages, Transactional Messages, Notifications And Alerts
2) By Person-To-Application (P2A): Customer Support Interactions, Service Requests, Feedback And Surveys
3) By Person-To-Person (P2P): One-On-One Messaging, Group Chats, Multimedia Messaging
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What regions are at the forefront of rich communication services (rcs) market expansion?
North America was the largest region in the rich communication services (RCS) market in 2024. The regions covered in the rich communication services (RCS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the rich communication services (rcs) market?
Major companies operating in the rich communication services (RCS) market include 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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What Is Covered In The Rich Communication Services (RCS) Global Market Report?
• Market Size Forecast: Examine the rich communication services (rcs) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the rich communication services (rcs) market for a structured understanding.
• Key Players Overview: Analyze major players in the rich communication services (rcs) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the rich communication services (rcs) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the rich communication services (rcs) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the rich communication services (rcs) market.
• Industry Challenges: Identify potential risks and obstacles affecting the rich communication services (rcs) market.
• Competitive Landscape: Review strategic developments in the rich communication services (rcs) market, including expansions, agreements, and new product launches.
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