DUBLIN--(BUSINESS WIRE)--The "Rich Communication Services Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global rich communication service market is expected to register a CAGR of 40.51% during the forecast period of 2019-2024.
Text messaging is still the most direct and widely used form of communication. As a result, two-way automated enterprise-to-person text messaging, known as A2P mobile messaging, has become essential for businesses.
- GSMA, an association that represents interests of nearly 800 mobile operators worldwide, is backing a universal RCS profile to provide RCS messaging right across the Android ecosystem and include Apple iPhone apps to receive and send RCS messages.
- In early 2017, nearly 49 operators had launched RCS across their network. Despite Google's purchasing of Jibe to streamline the service, interoperability remains to pose challenges. AT&T in the US, for instance, implemented an older standard that doesn't work with T-Mobile or Verizon's version.
- RCS presents a platform to participate in testing an up-coming technology and to be able to make RCS as the default messaging experience worldwide. Companies deploying RCS will have the opportunity to deliver a consistent GSMA Universal Profile and to actively benefit from industry players partnering for the cutting edge of mobile communications.
Major Market Trends
VoLTE to Witness Highest Growth Rate Over the Forecast Period
- The biggest factors driving the growth of VoLTE services will be from operators reducing costs and increases capacity of operators by moving voice calls from 3G and 4G networks to the 5G VoLTE network.
- With 5G wireless communication on its way, the use of smartphones would increase multifold, growing the demand for the latest models to raise the bar continuously facilitating the growth for rich communication services.
- Organizations are heavily investing in mitigation of interoperability issues that network operators face. For instance, in 2016, TIM and Vodafone Plc rolled out tests to ensure open, interoperable standards to maximize ease of use and offer the best services in the market.
North America to Hold the Largest Market Share
- In North America, RCS is gaining traction as the default messaging client, coupled with VoLTE to share the IMS stack that enhances the efficiency of the devices, network and simplifies the deployment of RCS services.
- VoLTE calls in this region make up 80% of all voice calls on the T-Mobile US network. The smartphone market in the United States stands 1444 million units in 2017 according to Consumer Technology Association.
- The strong financial position of North America has enabled organizations to invest in advanced solutions and technologies. The US is leading the charge with the rollout of the first 5G commercial networks. in 2018, trials took place in every major market worldwide with Verizon's announced plans to launch a 5G handset in early 2019.
- In 2018, at Mobile World Congress Americas, Redbox Leverages RCS at Google's Innovation City Booth. This is indicative of business adopting RCS as a way ahead for personalized marketing.
The competitive rivalry in the market is intense with companies leveraging onto the newer possibilities that rich communication services market is to offer. Organizations are partnering with tech companies and network operators for technological capabilities and innovation.
- March 2019 - HDFC Bank Limited, one of India's largest private sector banks has partnered with Route Mobile Limited to showcase Rich Communication Services (RCS) on Google's RCS Business Messaging platform at Mobile World Congress (MWC) 2019.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Penetration of Smart Phones in the Market
4.4.2 Global Interoperability and Collaboration Between Carriers
4.4.3 Direct Association of the Service Providers
4.5 Market Restraints
4.5.1 Competition of OTT Players
4.5.2 Lack of Awareness Among Organizations About the Deployment and Usage
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 By Solution
6.1.2 Social Presence Information
6.1.3 File transfer/Content Sharing
6.1.4 Web Conferencing
6.1.5 SIP options/Presence based capability Exchange
6.1.6 Online Storage
6.1.7 Unified Messaging
6.1.9 Other Solutions
6.2 By Deployment
6.3 By Application
6.3.1 Cloud Storage/Access
6.3.3 Rich Calls & Messaging
6.3.4 Mobile Commerce
6.3.5 Value Added Services (VAS)
6.3.6 Other Applications
6.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Huawei Technologies Co. Ltd.
7.1.2 Xura Inc.
7.1.3 Deutsche Telekom AG
7.1.4 Acme Packet Inc.
7.1.5 Neusoft Corporation
7.1.6 Infinite Convergence Solutions Inc.
7.1.7 Summit Technology Inc.
7.1.8 Vodafone Group PLC
7.1.9 D2 Technologies Inc.
7.1.10 Ribbon Communications Operating Company
7.1.11 Myriad Group AG
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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