Global Rich Communication Services (RCS) Markets, 2020-2025 - Strict Regulations for OTT Messaging Services to Boost the Adoption of RCS
DUBLIN, Aug. 12, 2020 /PRNewswire/ -- The "Rich Communication Services (RCS) Market by Application (Advertising Campaign, Content Delivery, and Integrated Solutions), End-User (Consumers and Enterprises), Enterprise Size, Enterprise Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global RCS market size is projected to grow from USD 5.2 billion in 2020 to USD 11.7 billion by 2025, at a CAGR of 17.6% during 2020-2025. Major growth factors for the market include Increasing investments on digital marketing across the enterprise verticals.
The COVID-19 outbreak has significantly impacted several communication service providers across the globe. Major countries from North America, Europe, APAC, MEA, and Latin America are badly affected in the pandemic and industry giants from several regions are taking initiatives to enable consumers with the best quality communication services and stay connected with their network of employees and customers.
By application, advertising campaign segment to account for a higher market share during the forecast period
Advertising campaigns via digital marketing is the prominent approach adopted by enterprises to attract customers. Sharing rich media contents have enabled end-users to engage significantly with the enterprises to take benefits of the services. Advertising campaigns may vary from vertical to vertical; for instance, media and entertainment vertical would share advertisements, teasers, or some trailers of upcoming shows. Likewise, BFSI vertical would share interactive media content to advertise funds and policies. Advertising campaigns are mainly followed through SMS protocol and are expected to be significantly offloaded on RCS protocol to enable enhanced messaging service through an interactive platform.
By end-user, enterprises segment to hold a larger market size during the forecast period
By end-users global RCS market is segregated into enterprises and consumers. The enterprises throughout verticals are expected to have a significant dependency on SMS for digital marketing. Deployment of RCS messaging platforms to share media-rich content amongst the end-users is expected to bring growing instances of customer engagements. Apart from digital marketing, RCS can be widely deployed by enterprises to share the relevant information to their customers, which would include tickets, passes, policy details, wealth performance stats, logistics details, product information, service reminders, and others.
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
APAC is expected to have the highest growth rate in the RCS market among all areas. The high rate of adoption of digital technologies, especially in countries, such as China, India, and Japan has made APAC a lucrative market in the IT industry. The growing development in these countries is expected to provide several new opportunities in the APAC RCS market. The growth driver for RCS in this region is increasing population, rising smartphone connections, increasing the mobile payments, growing the retail industry, and the use of advanced SMS systems for marketing and customer relationship management.
Many mobile engagement and communications providers in this region have partnered with various telecom operators to provide rich, personalized multimedia content to their customers. For instance, Karix Mobile had partnered with Google and Reliance JioInfocomm to support RCS. With RCS, the company helps its clients in providing a more in-depth and richer engagement experience.
Research Coverage
The RCS market is segmented by application (advertising campaign, content delivery, and integrated solutions), end-user (consumers and enterprises), enterprise size, enterprise vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews, services; key strategies; new service launches, partnerships, agreements, and collaborations; and competitive landscape associated with the RCS market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Global Rich Communication Services Market
4.2 Rich Communication Services Market, COVID-Impact Analysis
4.3 Rich Communication Services Market, by Application, 2020
4.4 North America: Rich Communication Services Market, by Enterprise Size and End-user, 2020
4.5 Asia-Pacific: Rich Communication Services Market, by Enterprise Size and End-user, 2020
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Advertising and Marketing Companies
5.2.2 Restraints
5.2.2.1 Limited Capability to Offer End-To-End Encryption
5.2.2.2 Lack of Interoperability Between OEMs and Carrier Networks
5.2.3 Opportunities
5.2.3.1 Strict Regulations for OTT Messaging Services to Boost the Adoption of RCS
5.2.4 Challenges
5.2.4.1 Difficulty to Cope With OTT Service Providers
5.2.4.2 Lower User Base Due to Proliferation of Messaging Apps
5.3 Cumulative Growth Analysis
5.4 Use Cases
5.5 Enabling Technologies
5.5.1 Artificial Intelligence
5.5.2 Internet of Things
6 Rich Communication Services Market, by Application
6.1 Introduction
6.2 Advertising Campaign
6.3 Content Delivery
6.4 Integrated Solutions
6.5 Other Applications
7 Rich Communication Services Market, by End-user
7.1 Introduction
7.2 Consumers
7.3 Enterprises
8 Rich Communication Services Market, by Enterprise Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Rich Communication Services Market, by Enterprise Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Telecom and IT
9.4 Media and Entertainment
9.5 Tourism and Logistics
9.6 Retail and Ecommerce
9.7 Healthcare
9.8 Other Enterprise Verticals
10 Rich Communication Services Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Service Launches and Service Enhancements
11.2.2 Partnerships, Agreements, and Collaborations
12 Company Profiles
12.1 Introduction
12.2 AT&T
12.3 Vodafone
12.4 Deutsche Telekom
12.5 Google
12.6 Verizon
12.7 Telefonica
12.8 Orange Business
12.9 China Mobile
12.10 Kddi
12.11 Slovak Telekom
12.12 Telit
12.13 SK Telecom
12.14 Telstra
12.15 LG U+
12.16 Celcom
12.17 Freedom Mobile
12.18 Rogers
12.19 T-Mobile
12.20 O2
12.21 Telia Company
12.22 Magyar Telekom
12.23 Claro
12.24 Swisscom
12.25 Reliance Jio
For more information about this report visit https://www.researchandmarkets.com/r/14834d
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