Global Rich Communication Services Market to 2031: Increasing Adoption of Mobile Service Subscribers is Expected to Propel Growth

DUBLIN, March 27, 2023 /PRNewswire/ -- The "Rich Communication Services Global Market Report 2022: Ukraine-Russia War Impact" 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 global rich communication services market.

The global rich communication services market is expected to grow from $6.87 billion in 2021 to $8.34 billion in 2022 at a compound annual growth rate (CAGR) of 21.35%. The rich communication services market is expected to reach $17.82 billion in 2026 at a compound annual growth rate (CAGR) of 20.90%. 

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."separate account." Throughout the world, RCS works on all networks, phones, laptops, and operating systems.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
• Impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The rich communication services market consists of sales of rich communication services by entities (organizations, sole traders, and partnerships) that 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. 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 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.

North America was the largest region in the rich communication services market in 2021. 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 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.

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.

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.

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, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Rich Communication Services Forecast Market, 2021-2026F, 2031F, $ 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, 2016-2021, 2021-2026F, 2031F, $ Billion

• On-Premise
• Cloud

6.2. Global Rich Communication Services Market, Segmentation By Enterprise Size, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Small And Medium Enteprises
• Large Enterprises

6.3. Global Rich Communication Services Market, Segmentation By Application Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ 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, 2016-2021, 2021-2026F, 2031F, $ Billion

• Healthcare
• Retail And E-commerce
• BFSI
• IT And Telecom
• Travel And Tourism
• Others

7. Rich Communication Services Market Regional And Country Analysis
7.1. Global Rich Communication Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Rich Communication Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

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

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716 

Logo:  https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg 

SOURCE Research and Markets