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

Market Growth Overview

• 2023 Market Size: $5.55 billion
• 2024 Market Size: $7.5 billion
• CAGR (2023-2024): 35.3%
• Growth drivers:
  • Shift from SMS to rich media
  • Smartphone proliferation
  • Mobile internet accessibility
  • Consumer demand for enhanced messaging
  • Collaboration between mobile operators

Future Market Projections

• 2028 Market Size: $25.15 billion
• CAGR (2024-2028): 35.3%
• Growth drivers:
  • 5G network rollout
  • Increased focus on customer engagement
  • Integration with chatbots and AI
  • Rise of conversational commerce
  • Global expansion of RCS ecosystem
• Major trends:
  • Advancements in mobile network technologies
  • Integration with business communication
  • Carrier partnerships and RCS rollouts
  • Multichannel communication platforms

Read The Full Rich Communication Services (RCS) Market Report Here:

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

Increasing Adoption of Mobile Service Subscribers Boosts RCS Market

Mobile Service Subscriber Uptake

• Enhances mobile experience with interactive features
• Growth in active mobile subscribers
• Example from the UK’s Office of Communications

Key Players in the RCS Market

Major Companies

• AT&T Inc.
• Vodafone Idea Limited
• Deutsche Telekom AG
• Google LLC
• Verizon Communications Inc.
• SK Telecom Co. Ltd.
• ZTE Corporation
• Global Message Services
• HRMavenir Systems Inc.
• Infobip Ltd.
• Huawei Technologies Co. Ltd.
• T-Mobile Inc.
• Ericsson
• Reliance Jio Infocomm Limited
• Singapore Telecommunications Limited
• StarHub Limited
• M1 Limited
• True Corporation Public Company Limited
• TOT Public Company Limited
• Total Access Communication PCL (DTAC)
• Advanced Info Service Public Company Limited

Technological Advancements in RCS Market

Innovative Technologies

• Launch of Kirusa’s RichOTP service
• Secure OTP delivery through messaging apps
• Enhances security and reliability of transactions

Strategic Acquisition Enhances RCS Capabilities

Acquisition of Dotgo by Gupshup

• Enriches conversational messaging offerings
• Expansion into African market
• Strengthening market position in RCS

Market Segmentation and Regional Insights

Market Segments

• Type: A2P, P2A, P2P
• Development Model: On-Premise, Cloud
• Enterprise Size: SMEs, Large Enterprises
• Application: Rich Calls and Messaging, Content Delivery, Value Added Services, Marketing and Advertising Campaign, Cloud Storage
• Industrial Verticals: Healthcare, Retail and E-commerce, BFSI, IT and Telecom, Travel and Tourism, Others

Regional Dynamics

• North America: Largest market in 2023

The RCS market is poised for substantial growth driven by technological innovations, strategic acquisitions, and increasing mobile subscriber bases. With advancements in 5G technology and integration with AI, RCS is set to revolutionize communication across industries, enhancing customer engagement and operational efficiency globally.

Get A Free Sample On The Global Rich Communication Services (RCS) Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=10196&type=smp

The Rich Communication Services (RCS) Global Market Report 2024  provides an overview of the rich communication services (rcs) market 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 and their market positions.

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