The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Exponential Market Expansion

• Market size surged from $9.86 billion in 2023 to $11.83 billion in 2024.
• Compound annual growth rate (CAGR) of 20.0%.
• Historic growth fueled by smartphone adoption and network modernization.

Anticipated Growth Outlook

• Expected to reach $25.66 billion in 2028.
• CAGR of 21.3%.
• Forecast growth attributed to mobile messaging evolution and enhanced security features.

Expanding Mobile Service Subscriptions Fuel Market Surge

• Increase in mobile service subscribers propels rich communication services market.
• Mobile subscriptions expected to reach 6.7 billion by 2022.
• Smartphone subscriptions rising, comprising nearly 77% of all mobile phone subscriptions.

Tech Advancements Reshaping Market Landscape

• Technological advancements key trend in the rich communication services market.
• Mavenir introduces Communications Platform as a Service (CPaaS) for customer engagement.
• CPaaS merges Software as a Service (SaaS) solution with API enablers and pre-made applications.
• Gupshup acquires Dotgo to strengthen conversational messaging platform and expand geographical reach.

Market Segmentation

• Deployment Type: On-Premise, Cloud
• Enterprise Size: Small And Medium Enterprises, Large Enterprises
• Application Type: Rich Calls And Messaging, Content Delivery, Value Added Services, Marketing And Advertising, Cloud Storage
• Industry Vertical Type: Healthcare, Retail And E-commerce, BFSI, IT And Telecom, Travel And Tourism, Others

Regional Insights

• North America: Largest region in 2023.
• Asia-Pacific: Fastest-growing region in the forecast period.

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https://www.thebusinessresearchcompany.com/report/rich-communication-services-global-market-report

The Rich Communication Services Global Market Report 2024  provides an overview of the rich communication services market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The rich communication services market forecast analyzes rich communication services market size, rich communication services market share, leading competitor and their market positions.

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