DUBLIN--(BUSINESS WIRE)--The "Global Rich Communication Services (RCS) Market (2021-2027) by Type, Application, Service, End-User, Deployment, Organization Size, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Rich Communication Services (RCS) Market is estimated to be USD 5.7 Bn in 2021 and is expected to reach USD 15.78 Bn by 2027, growing at a CAGR of 18.5%.
Key factors such as an increasing number of advertising and marketing companies followed by a rising number of digitally connected people have led to a rise in the demand for Rich Communication Services (RCS) market. The rising number of people using smartphones has led to a high mode of communication via text messaging. The adoption of RCS solutions can be effective in enhancing such an experience for its customers. Further advancements in technologies such as voice over long-term evolution technology (VO-LTE) increase the subscriber base. Therefore, enterprises are utilizing RCS solutions for digitally marketing the product to have a high reach over the market. All the factors have led to a growth in the market of RCS solutions.
The factors such as the limited capacity of an RCS solution to offer end to end encryption has led to privacy issues. Also, the lack of interoperability between the OEMs and the carrier networks is likely to restrain market growth.
The global rich communication services (RCS) market is segmented further based On Type, Application, Service, End-User, Deployment, Organization Size, and Geography.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Rich Communication Services (RCS) Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Market Dynamics
Drivers
- High Penetration Rate of Smartphones
- Increasing Number of Advertising and Marketing Companies
- Increasing Development of Voice Over Long-Term Evolution Technology (Vo-LTE)
Restraints
- Limited Capability to Offer End-To-End Encryption
- Lack of Interoperability Between OEMs and Carrier Networks
- Difficulty to Cope with Ott Service Providers
Opportunities
- Strict Regulations for OTT Messaging Services
- Growing Penetration of 5G Networks and Growing Investment by Top Players
Challenges
- Lower User Base due to The Proliferation of Messaging Apps
- Lack of Awareness about the Implementation and Use of Services
Companies Mentioned
- AT&T
- Vodafone Idea Limited
- Deutsche Telekom AG
- Google/Alphabet Inc
- Verizon Communications Inc
- Telefonica
- Orange Business
- China Mobile
- KddI
- Slovak Telekom
- Telit
- SK Telecom
- Telstra
- LG U+
- SAP SE
- Huaw
For more information about this report visit https://www.researchandmarkets.com/r/s4h5bb
