Global Industry Analysts Forecast World Rich Communications Suite (RCS) Services Market to Reach $23.4 Billion by 2026


FACTS AT A GLANCE
Editing: 18; Published: January 2022
Executive Pool: 4314
Companies: 252 – Players covered include Alcatel-Lucent SA; Telefonaktiebolaget LM Ericsson; Huawei Technology Co.Ltd. ; Interop Technologies LLC; Mavenir Systems Inc.; Nokia networks; Orange SA; SAP SE; SK Telecom Co.Ltd. ; Vodafone Plc Group. and others.
Blanket: All major geographies and key segments
segments: Type (A2P, P2P, P2A); Application (advertising campaign, content distribution, integrated solutions, other applications); Vertical (BFSI, Retail, Healthcare, Media & Entertainment, Travel & Tourism, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.

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ABSTRACT-

Global Rich Communications Suite (RCS) Services Market to be reached US$23.4 billion by 2026
RCS, in short, refers to enterprise messaging in which the communication of agents belonging to enterprises, with their users (customers), using requests, events, and messages. With the increasing use of mobile phones and the increased demand for faster and more advanced multimedia communications, the rich market for communication services is set to increase significantly. RCS not only enriches the overall user experience, but also encourages and maintains subscriber loyalty. RCS, an initiative of the GSM Association, is an IP Multimedia Subsystem (IMS)-based platform that enables mobile operators to offer enhanced communication services, such as chat, multiple chat sessions, IP video calls, content sharing, VoIP, social networks, files transfer, document exchange, presence status and others to users on any network on any device. RCS not only allows MNOs to retain their existing customer base, but also to generate additional revenue in the form of fees/fees for rich communication services, and through B2B services, promotions, smart advertisements and application development. The RCS program is gaining momentum to provide a globally interoperable system, which is evident as a host of new devices are introduced and new members join the RCS consortium which includes telecommunications providers, handset manufacturers, network operators and applications. suppliers.

Amid COVID-19 Crisis, Global Rich Communications Suite (RCS) Services Market is estimated at US$5.1 billion in 2020, is expected to reach a revised size of US$23.4 billion by 2026, growing at a CAGR of 29.4% over the analysis period. A2P, one of the segments analyzed in the report, is expected to grow at a CAGR of 29.2% to reach US$21.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the P2P segment is readjusted to a revised CAGR of 27.2% for the next 7-year period. This segment currently accounts for a 21.4% share of the global Rich Communications Suite (RCS) services market. Application-to-person (A2P) messaging refers to the process of a company automatically sending mobile messages to a consumer’s mobile device using a software application. Over the past few years, A2P messaging has made leaps and bounds in providing private businesses as well as public organizations with a highly productive and profitable marketing channel, primarily for managing their promotional campaigns.

The US market is estimated at $1.9 billion in 2021, when China is expected to reach $3.9 billion by 2026

The Rich Communications Suite (RCS) services market in the United States is estimated at US$1.9 billion in 2021. The country currently accounts for a 31.3% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$3.9 billion in 2026 with a CAGR of 35.9% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 24% and 29.8% respectively over the analysis period. In Europe, Germany is expected to grow around 25.7% CAGR while the rest of the European market (as defined in the study) will reach US$2.2 billion at the end of the analysis period.

P2A segment to reach $2.4 billion by 2026
In the global P2A segment, United States, Canada, Japan, China and Europe will drive the CAGR of 35.4% estimated for this segment. These regional markets representing a combined market size of US$297 million in the year 2020 will reach a projected size of US$2.5 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$464 million by 2026. Following

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SOURCE Global Industry Analysts, Inc.

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