views
Rich Communication Services Market Overview
Report Coverage
The report: “Rich Communication Services (RCS) Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Rich Communication Services (RCS) Market.
By Deployment Type: Cloud, On-Premises.
By End Users: Healthcare, Media and Entertainment, Education, Banking and Financial Services, Retail and Ecommerce, IT and Telecom and Others.
By Type: P2P, A2P, P2A.
By Services: Cloud Storage, VoLTE, Mobile commerce, Rich Calls & Messaging, Others.
By Organization Size: Large Enterprises, Small and medium sized enterprises.
By Solutions: VoIP, Web Conferencing, Content sharing/file transfer, Unified Messaging, Multimedia, Online Storage, SIP Options, Others.
By Geography: North America (U.S, Canada and Mexico), Europe (U.K, Germany, Italy, France, Spain, Netherlands and Rest of Europe), Asia Pacific (China, Japan, India, South Korea,Australia and Rest of APAC),South America (Brazil, Argentina and Rest of South America), RoW (Middle East and Africa).
Key Takeaways
- Cloud models are anticipated to have a significant growth during the forecast period in the rich communication services market due to its capabilities of providing faster data delivery within low cost service features.
- Key market players such as Summit Technology Inc. and Mavenir have been helping towards significant growth of rich communication services market in North America.
-
Increased global smart phone penetration along with capability of improving advertising brand campaigns are some of the major driving factors towards significant growth of rich communication services market.
Rich Communication Services Market CAGR, by Deployment Type, 2021-2026
Rich Communication Services Market Segment Analysis – By Deployment Type
Rich Communication Services Market Segment Analysis – By Services
Rich Communication Services Market Segment Analysis – By Geography
North America has contributed with a major share during 2020 at 34.6% and is anticipated to have a significant growth in the global rich communication services market during the forecast period from 2020 to 2025. Presence of some key players such as Mavenir, D2 Technologies and Summit Technology Inc. is acting as major drivers for the growth of rich communication services market especially for digital marketing and messaging platform services. High investments towards research and development activities along with the growing adoption to improve advertising and marketing campaigns have been fueling the growth for rich communication services market in this region. Moreover, rising adoption of rich communication services by network providers along with rising smartphones user penetration are also responsible for creating high market demands in the region. Major companies in U.S such as Google and many others have been highly investing towards incorporating rich communication protocol service platforms installed within their android devices, thus causing significant market growth.
Rich Communication Services Market Drivers
Increasing smartphones penetration
The rising penetration towards smartphones globally has been acting as one of the major driving factors towards significant growth of rich communication services market. Due to such rising adoption of smartphones, the need towards improved and more efficient communication services have been eventually raising by the customers. Usage of rich communication services has been widely adopted by mobile service operators due to its capability of offering audio and video file sharing, voice messages, group chats and many others. Such factors have helped towards overcoming drawbacks of traditional SMS messaging, thus improving messaging standards within smartphones. Moreover, with capabilities of providing differentiated data and multimedia services, various carrier service providers have stated shifting towards rich communication services preinstalled within smartphones. Such factors are essentially making communication process much more multimedia rich with improved user experience, thus leading to increasing smart phone users in the market. Since smartphones have been widely adopted mainly for enhancing communication processes, thus propelling high demands in the rich communication services market.
<span lang="EN-US" times="" new="" roman";mso-bidi-font-family:calibri;mso-bidi-theme-font:minor-latin;="" color:black"="" style="box-sizing: border-box;">Improved advertising brand campaigns
<span lang="EN-US" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-fareast-font-family:"times="" new="" roman";="" mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:minor-latin;color:black"="" style="box-sizing: border-box;">Improved advertising brand campaigns have been acting as one of the major drivers towards boosting the market growth of rich communication services. Usage of rich communication services helps the advertising companies to improve their services through automation of customer interactions compared to lengthy calls of sales agents. This helps in enhancing customer satisfaction along with saving costs of paying agents for interacting through calls, thus making it a cost efficient alternative. Moreover, leveraging rich communication services helps the customers to get access to verified senders, thus enhancing brand consistency and security unlike traditional SMS. Additionally, such services help customers to experience a more dynamic and personalized conversation without requirements for diverting to a brand’s custom app or mobile web page. Such features have been essentially helping advertising and marketing companies to improve brand awareness, thus propelling the market demands towards rich communication services.
Rich Communication Services Market Challenges
Security concerns
Security and privacy concerns are some of the major factors that are restraining the growth of rich communication services market. With growing rates of cyber attacks and security breaches, security and privacy have been becoming the most important aspects to ensure effective data communication. Moreover, end to end encryption feature has been getting wider deployments across various messaging applications such as WhatsApp, Telegram and many others to improve security perspective unlike rich communication messaging services. Since the messages sent using rich communication services are not encrypted, there are high chances of messages getting intercepted and viewed by third parties. With growing concerns related to data misuse, hacking or exploitation from cybercriminals, adoption towards rich communication services have been slowing down as the messaging data can be easily accessed by the network providers. Such factors have been creating high security and privacy concerns among the consumers, thus hampering the market growth of rich communication services.
Rich Communication Services Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Rich Communication Services market. The major key players in the Rich Communication Services market include Alcatel-Lucent S.A, Infinite Convergence Solutions Inc., Mavenir, Neusoft Corporation, Vodafone Group Plc, Deutsche Telekom AG, Interop Technologies, Google, Summit Technology Inc. and D2 Technologies.
Partnerships/Product Launches/Acquisition
- <span lang="EN-US" calibri","sans-serif";="" mso-ascii-theme-font:minor-latin;mso-hansi-theme-font:minor-latin;mso-bidi-theme-font:="" minor-latin"="" style="box-sizing: border-box;">In April 2020, CM.Com had announced the launch of rich communication services with partnership with Vodafone across Germany. With this partnership, the company will offer tools to leverage rich communication service channel through configuring rich features, chat bots as well as customer contact tooling. This will help to implement next generation SMS messaging with features such as verified sender and rich media across Germany.
-
In November 2019, Google announced the launch of its rich communication messaging services on android users across U.S. This service was initiated as a part of replacing traditional SMS text messaging with more enhanced and useful chatting features. Such roll out of the service will be providing the android users to have more seamless conversations with improved and better messaging capabilities.Code: ITR 0044
Relevant Reports
Location Intelligence & Location Analytics Market
Code: ITR 0017
Content Delivery Network (CDN) Market
For more Information and Communications Technology Market reports, please click here