Global Rich Communication Services Market Report 2023: Increasing Adoption of Mobile Service Subscribers Drives Growth

DUBLIN, April 18, 2023 /PRNewswire/ -- The "Rich Communication Services Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global rich communication services market grew from $8.31 billion in 2022 to $10.07 billion in 2023 at a compound annual growth rate (CAGR) of 21.1%. The rich communication services market is expected to grow to $21.6 billion in 2027 at a CAGR of 21.0%.

Major players in the rich communication services market are AT & T, Google LLC, Vodafone, Deutsche Telekom AG, Telefonaktiebolaget LM Ericsson, Huawai Technologies Co Ltd., ZTE Corporation, Verizon Communication Inc., SK Telecom, Mavenir Systems Inc., Telefonica, Orange Business, Sinch AB, Juphoon System Software Co Ltd and Summit Tech.

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RCS (rich communication services) refers to a next-generation SMS protocol that upgrades text messaging. The default messaging app on a device receives rich features like payments, high-res photo and file sharing, location sharing, and video calls. The rich communication services are used to replace SMS by enabling users to send messages that are more effective and interesting, something the user can never accomplish with SMS.

The main deployment type of rich communication services include on premise and cloud and are deployed in small and medium enterprises and large enterprises. The on premise RAS is used for the on-site hosting of IT infrastructure hardware and software applications. It refers to a public cloud platform or a distant data center that hosts IT assets in contrast.

By preserving the functionality, security, and maintenance of on-premises IT assets and their physical location businesses have more control over these resources. The RAS is applied in rich calls and messaging, content delivery (content sharing, file transfer), value-added services (VAS), marketing and advertising campaign and cloud storage and applied in industry vertical types such as healthcare, retail and e-commerce; BFSI, IT and telecom, travel and tourism and others.

The rich communication services market research report is one of a series of new reports that provides rich communication services market statistics, including rich communication services industry global market size, regional shares, competitors with an rich communication services market share, detailed rich communication services market segments, market trends and opportunities, and any further data you may need to thrive in the rich communication services industry. This rich communication services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological advancements have emerged as a key trend gaining popularity in the rich communication services market. Major companies operating in the rich communication services market are introducing new technologies to sustain their position in the market. 

North America was the largest region in the rich communication services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rich communication services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the rich communication services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The increasing adoption of mobile service subscribers is expected to propel the growth of the rich communication services market. A mobile service subscription refers to a contract for a public mobile cellular service that uses cellular technology to give users access to the Public Switched Telephone Network (PSTN). It covers both analog and digital cellular technologies and postpaid and prepaid subscriptions. A mobile service subscription allows the users to read receipts, type indicators, high-quality photos, and texting.

According to a mobility report shared by Ericsson, a Sweden-based multinational networking and telecommunications company, the mobile customers are expected to be 6.7 billion in 2022, up from 6.1 billion at the end of 2021. Smartphone-related subscriptions are still increasing, accounting for 6.3 billion at the end of 2021, making up nearly 77% of all mobile phone subscriptions.

By 2027, this is expected to increase to 7.8 billion, or 87% of all mobile subscribers. About 620 million 5G subscriptions were added during the first quarter of 2022, and by the end of the year, that number is anticipated to reach 1 billion. Therefore, the increasing adoption of mobile service subscribers will drive the growth of the rich communication services market.

The rich communication services market consists of revenues earned by entities by providing A2A, P2P and P2A rich communication services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Rich Communication Services Market Characteristics

3. Rich Communication Services Market Trends And Strategies

4. Rich Communication Services Market - Macro Economic Scenario
4.1. COVID-19 Impact On Rich Communication Services Market
4.2. Ukraine-Russia War Impact On Rich Communication Services Market
4.3. Impact Of High Inflation On Rich Communication Services Market

5. Rich Communication Services Market Size And Growth
5.1. Global Rich Communication Services Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Rich Communication Services Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Rich Communication Services Market Segmentation
6.1. Global Rich Communication Services Market, Segmentation By Deployment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• On-Premise
• Cloud

6.2. Global Rich Communication Services Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Small And Medium Enterprises
• Large Enterprises

6.3. Global Rich Communication Services Market, Segmentation By Application Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Rich Calls And Messaging
• Content Delivery (Content Sharing, File Transfer)
• Value Added Services (VAS)
• Marketing And Advertising Campaign
• Cloud Storage

6.4. Global Rich Communication Services Market, Segmentation By Industry Vertical Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Healthcare
• Retail And E-commerce
• BFSI
• IT And Telecom
• Travel And Tourism
• Other Industry Vertical Types

7. Rich Communication Services Market Regional And Country Analysis
7.1. Global Rich Communication Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Rich Communication Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/1ph1c8

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