Rich Communication Service (RCS) Market Analysis is estimated to reach USD 16.9 Billion by 2030 recording a CAGR of 6.73%.
Rich Communication Services (RCS) Market market Overview:
Rich Communication Services (RCS) is a next-generation text messaging protocol used by mobile operators and mobile phones to replace the old generation text messaging service called Short Messaging Service or SMS. RCS helps consumers in booking appointments, making seamless payments, availing boarding passes, submitting survey answers, receiving notifications from banking & e-commerce institutions, and marketing & promotional alerts. Additionally, it offers features such as rich and verified messages, a large messaging capacity of over 8,000 characters, video calling within messaging applications, group chats, read receipts to sender, and platform-independent messaging.
By application, the global rich communication services (RCS) market has been divided into advertisement, content delivery, integrated solutions, and others.
By end user, the global rich communication services (RCS) market has been divided into individual consumers and enterprises.
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Rich Communication Services Market Key Players:
The Key Players in the Global Rich Communication Service (RCS) Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include,
- AT&T (US)
- Vodafone Limited (UK)
- Google (US)
- Verizon (US)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Orange (France)
- KDDI America, Inc. (US)
- Telit (UK)
Based on organization size, the global rich communication services (RCS) market has been divided into small and medium enterprise and large enterprise.
By vertical, the global rich communication services (RCS) market has been divided into BFSI, IT & telecommunications, media & entertainment, tourism & logistics, retail & ecommerce, healthcare, and others. The retail & ecommerce vertical is expected to grow the fastest during the forecast period as the increasing initiatives from businesses to connect with the consumers and rising adoption of smartphones.
The rich communication services (RCS) market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
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Regional Analysis:
By region, the global rich communication services (RCS) market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to be the largest contributor to the rich communication services (RCS) market due to the presence of several established players in the region.
Table of Content:
Executive Summary
Introduction
Market Overview
Market Segmentation
- By Application
- By End User
- By Organization Size
- By Vertical
Regional Analysis
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South America
Competitive Landscape
Market Drivers and Opportunities
Industry Trends
Impact of COVID-19 on the Market
Vendor Analysis
Future of the Market
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