Rich Communication Services (RCS) Market Witness the Growth of $11.7 billion by 2025

(IT-NEWSWIRE.COM, August 02, 2022 ) According to a research report "Rich Communication Services 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" published by MarketsandMarkets, the 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% from 2020 to 2025. Major growth drivers for the market include the growing expenditures on digital marketing across verticals.

Browse 304 market data Tables and 44 Figures spread through 230 Pages and in-depth TOC on "Rich Communication Services (RCS) Market - Global Forecast to 2025"

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Key and emerging market players include RCS include AT&T (US), Vodafone (Uk), Deutsche Telekom (Germany), Google (US), Verizon (US), Telefonica (Spain), Orange Business (US), China Mobile (China), KDDI (Japan), Slovak Telekom (Slovakia), Telit (UK), SK Telecom (South Korea), Telstra (Australia), LG U+ (South Korea), Celcom (Malaysia), Freedom Mobile (Canada), Rogers (Canada), T-Mobile (US), O2 (UK), Telia Company (Sweden), Magyar Telekom (Hungary), Claro (Brazil), Swisscom (Switzerland), and Reliance Jio (India). These players have adopted various strategies to grow in the rich communication services market.

RCS is an IMS-based platform that enables the delivery of communication services beyond traditional voice services and SMS. It provides MNOs with an opportunity to increase their revenues or at least preserve their existing revenues by providing consumers with enhanced communication services, such as instant messaging, chat, live video, content sharing, file transfer, and IP video calls, across devices on any network. Mobile operators also have the opportunity to grab new revenue streams through RCS-based applications, Business-to-Business (B2B) services, advertisements, promotions, and others. Customer retention, influence of social networks, global interoperability, and collaboration between carriers and benefits from investment in IMS and Long-Term Evolution (LTE) are some of the driving factors for the RCS market.

Expanding business through a partnership with other technology companies to enhance customer service and to increase customer base is a key business strategy of Vodafone (UK) on RCS market. Vodafone is one of the world’s leading MNOs and is the first UK network provider to support RCS messaging across Android mobile devices. With RCS, the company is keen to meet customer expectations for seamless two-way digital experiences. In February 2019, Vodafone had partnered with IMImobile and its creative agency, TMW, to create its first major RCS messaging campaigns. Moreover, the company is heavily investing in the mitigation of interoperability issues that network operators face. For instance, in February 2016, Vodafone and TIM rolled out tests intending to establish an IP interconnection between the two operators’ mobile networks. This has enabled their customers to make calls using Voice over Long-Term Evolution (VoLTE) technology and exchange messages based on the RCS standard.

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Collaborating with other players and launching new innovative solutions is a key business strategy of Google(US). It is an established player and a globally recognized vendor for providing software, hardware, and related services to leading enterprises across the globe. The company has been increasingly investing in security, infrastructure, analytics, data management, and AI over the past years. The company is investing a substantial portion of its annual revenue in R&D activities as a part of an organic strategy. In 2019, it invested approximately USD 26.0 billion in the development of new products and services, to expand its business and gain a competitive edge. Google supports the GSMA’s Universal Profile for interoperability across operator networks and devices. In January 2019, Google rolled RCS chat on the Google Fi network and devices, as well as upgraded international data speeds to LTE. This service supports all Pixel phones, along with the Android One Moto X4, Moto G6, LG V35, and LG G7. Google, with its reliable global infrastructure and consistent user experience, offers RCS technology that helps the mobile community deliver better messaging everywhere.

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Rich Communication Services (RCS) Market Witness the Growth of $11.7 billion by 2025