Global Rich Communications Suite (RCS) Services Industry

Abstract:

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Global Rich Communications Suite (RCS) Services Market to Reach US$23.4 Billion by the Year 2026

RCS, in short, refers to business messaging wherein communication of agents belonging to businesses, with their users (customers), using requests, events and messages. With the rising use of mobile phones, and the increased demand for quicker and advanced multimedia communication, the rich communication services market is set to increase substantially. RCS, not only enrich overall user experience, but also encourage and sustain subscriber loyalty. RCS, an initiative of 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 call, content sharing, VoIP, social networking, file transfer, document exchange, presence status, and others to users across any network on any device. RCS not only enables MNOs to sustain their existing customer base, but also generate additional revenues in the form of charges/fee for rich communication services, and through B2B services, promotions, smart advertisements, and development of applications. The RCS program is gaining traction to deliver an interoperable system globally, which is evident from the fact that a host of new devices are being introduced, and new members are enrolling into the RCS consortium that include telecommunication vendors, handset manufacturers, network operators and application providers.

Amid the COVID-19 crisis, the global market for Rich Communications Suite (RCS) Services estimated at US$5.1 Billion in the year 2020, is projected 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 projected to grow at a 29.2% CAGR to reach US$21.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the P2P segment is readjusted to a revised 27.2% CAGR 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 automatically sending mobile messages by an enterprise to a consumer`s mobile device using a software application. Over the past few years, A2P messaging has been making giant strides in providing private businesses as well as public organizations with a highly productive and cost-effective marketing channel primarily for running their promotional campaigns.

The U.S. Market is Estimated at $1.9 Billion in 2021, While China is Forecast to Reach $3.9 Billion by 2026

The Rich Communications Suite (RCS) Services market in the U.S. is estimated at US$1.9 Billion in the year 2021. The country currently accounts for a 31.3% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$3.9 Billion in the year 2026 trailing a CAGR of 35.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24% and 29.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 25.7% CAGR while Rest of European market (as defined in the study) will reach US$2.2 Billion by the end of the analysis period.

P2A Segment to Reach $2.4 Billion by 2026

In the global P2A segment, USA, Canada, Japan, China and Europe will drive the 35.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$297 Million in the year 2020 will reach a projected size of US$2.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$464 Million by the year 2026.

• Alcatel-Lucent S.A.
• Telefonaktiebolaget LM Ericsson
• Huawei Technology Co. Ltd.
• Interop Technologies LLC
• Mavenir Systems Inc.
• Nokia Networks
• Orange S.A.
• SAP SE
• SK Telecom Co. Ltd.
• Vodafone group Plc.