The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increased mobile service subscriber usage is likely to encourage innovation in rich communication services RCS manufacturing, propelling the market during the forecast period.

The global rich communication services RCS market is expected to grow from $4.10 billion in 2022 to $5.55 billion in 2023 at a compound annual growth rate (CAGR) of 35.3%. The global rich communication services (RCS) market size is expected to reach $18.43 billion in 2027 at a CAGR of 35.01%.

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Global Rich Communication Services RCS Market Segments Include:

• By Type: Application-to-Person (A2P), Person-To-Application (P2A), Person-to-Person (P2P)
• By Development Model: On-Premise, Cloud
• By Enterprise Size: Small And Medium Enterprises, Large Enterprises
• By Application: Rich Calls And Messaging, Content Delivery, Value Added Services, Marketing And Advertising Campaign, Cloud Storage
• By Industrial Vertical: Healthcare, Retail And E-commerce, Banking, Financial Services and Insurance (BFSI), IT And Telecom, Travel And Tourism, Other Industrial Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global rich communication services RCS market in 2021.

Major Market Players in the rich communication services RCS market include AT&T Inc., Vodafone Idea Limited, Deutsche Telekom AG, Google LLC, Verizon Communications Inc., SK Telecom Co. Ltd., ZTE Corporation, Global Message Services.

Technological innovation is a crucial trend that is gaining traction in the market for rich communication services (RCS). Companies in the rich communication services (RCS) sector are embracing new technology in order to maintain their market position. For example, Kirusa, a communication solutions company based in the United States, will offer the RichOTP service in September 2022. Companies can use RichOTP to transmit secure OTPs to their clients’ mobile devices via the messaging app, which is a more dependable and secure manner than regular SMS texting. The service is intended to make it easier for businesses to provide OTPs, which are required for secure transactions and account verification.

The Rich Communication Services RCS Global Market Report 2023  provides a rich communication services RCS market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The rich communication services RCS market forecast analyzes rich communication services RCS market size, rich communication services RCS market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Rich Communication Services (RCS) is a messaging protocol that, when compared to regular SMS texting, enables for more advanced communication between mobile devices. It enables users to organise peer-to-peer group conversations, send photos and videos, obtain read receipts, and use end-to-end encryption.

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