[250 Pages Report] Newly released Rich Communication Services (RCS) Messaging Market analysis report by Future Market Insights shows that global sales of Rich Communication Services (RCS) Messaging Market in 2021 was held at US$ 1.9 Billion.
| Attributes | Details |
|---|---|
| Global Rich Communication Services (RCS) Market Size (2021) | US$ 1.9 Billion |
| Global Rich Communication Services (RCS) Market Size (2032) | US$ 8.5 Billion |
| Global Rich Communication Services (RCS) Market CAGR (2022 to 2032) | 16% |
| USA Rich Communication Services (RCS) Market Size (2032) | US$ 3.1 Billion |
| Key Companies Covered | Global Message Services; Infobip Ltd.; Interop Technologies; Mavenir; SK Telecom Co. Ltd.; Deutsche Telekom; Edgecore Networks; Google |
With 16% projected growth during 2022 to 2032, the market is expected to reach a valuation of US$ 8.5 Billion by 2032. A2P is expected to be the highest revenue-generating category, projected to register CAGR of 16.1% during 2022 to 2032.
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As per the Rich Communication Services (RCS) Messaging Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Rich Communication Services (RCS) Messaging Market increased at around 36.6% CAGR.
RCS texting is similar to messaging apps like WeChat and WhatsApp, and it supports SMS and MMS as well. Regardless of the network the user is on, rich features such as high-resolution pictures and video sharing, mapping directions, GPS tracking, typing indicators, the skill to add and remove participants from group conversations among others, are delivered to the device's default messaging app. RCS is changing the way people communicate, in both peer-to-peer messaging between friends as well as business-to-business messaging.
RCS Business Messaging reduces consumers’ "fear of fraud" by indicating that the message was delivered by a verified business sender. It also provides marketers with real-time data on message delivery, readability, and whether or not recipients click on embedded app links.
By introducing new use cases to the traditional SMS channel, businesses have used RCS to improve customer engagement. RCS Business Messaging (RBM) enables brands to engage their customers more effectively by sharing high-resolution photos and videos, making it simpler to add appointments to calendars, mapping directions to physical locations, sharing a product carousel, and much more.
Airlines, for example, will be able to send boarding and seat options to customers. Besides, RCS provides numerous opportunities to businesses of all sizes. It can send information like travel package details, credit card alerts, as well as product demonstration videos. Owing to its two-way messaging capabilities, it can be used as both a communication and a conversational tool.
Due to the benefits of VO-LTE, such as simultaneous calling while internet surfing and transferring messages with images, the demand RCS has swelled. Artificial intelligence and the Internet of Things, for example, have permeated every aspect of daily life, including the use of smartphones and mobility services.
Several companies and operators support RCS. For instance, Google Chat, along with SMS and MMS, is available in the company's existing Android Messaging app. Google is currently focusing its efforts in France and the United Kingdom. On June 2019, the service became available to some users in the United Kingdom, but its use is still dependent on the device. Vodafone has supported RCS in the UK since 2014, however only with other Vodafone customers.
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North America is the most lucrative region with double-digit projected growth. Due to the growing 5G network penetration and the region's growing use of artificial intelligence (AI) and other smart connected devices, North America dominated the rich communication services market in 2021. Furthermore, the increased demand for next-generation messaging systems, bots that shift customer service away from conversational interactions, and rich communication services provide an opportunity for mobile network operators (MNOs) to develop services based on recent technological advances for native messaging channel.
The United States is expected to account for the largest market valuation of US$ 3.1 Bn by the end of 2032. Google surprised Android users in the United States when it announced that RCS messaging would be available in 2020, earlier than expected. All Android users in the United States can now upgrade to a new messaging system with a slew of new features and advantages.
According to a new Ookla 5G report, the United States leads the world in 5G availability. However, when compared to other countries that were among the first to launch 5G, the US falls short and ranks last in terms of speed. At this point, AT&T, T-Mobile, and Verizon have all announced the widespread availability of 5G versions, allowing them to claim nationwide coverage.
T-Mobile also recently passed a significant milestone in its mid-band 2.5 GHz deployment, reaching 200 million people ahead of schedule, with a goal of reaching 300 million by the end of 2023. The progressing 5G deployment and its capabilities, the RCS messaging market in the U.S. is projected to grow at a significant pace in the forthcoming years.
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A2P or application-to-person messaging segment is forecasted to grow at the highest CAGR of over 16.1% during 2022-2032. RCS usage, as well as RCS Message as a Platform (MaaP), has recently increased in a variety of industries.
The use of A2P for mailing brand promotional messages and other transaction alerts has been slowed due to Covid-led lockdowns. Ticketing and new promotions, on the other hand, have significantly boosted sales in these industries. In contrast, A2P traffic from the healthcare and banking sectors has increased significantly.
A2P messaging is used in healthcare, hospitality, retail, transportation, gaming, financial institutions, and other industries. A2P RCS messaging supports push content services, interactive services, promotional campaigns, CRM services, and other applications.
The BFSI segment is forecasted to grow at the highest CAGR of over 15.9% during 2022-2032. Plain text will no longer suffice as the banking industry has been emphasizing building and maintaining a strong brand. Multimedia messages have increased the demand for richer media in recent years. Rich media, as well as richer content and communication, can be supported by RCS. By incorporating a horizontally scrollable carousel with rich cards, suggestive responses, a branch locator, and other features, banks can reap significant benefits from technology.
During the forecast period, RCS Business Messaging expects an even larger market with a large user base. RCS is a new channel that is gaining traction in the global market, and many consumers are already taking advantage of its features. Using RCS, banks can include a horizontally scrollable carousel of up to ten vertically rich cards, a branch locator, suggestive responses, and other features.
Deep-linking for web-based campaigns and/or emails is a key feature that makes RCS Business Messaging ideal for banks. It also includes read recipients, delivery invoices, on-screen event tracking, and customer-specific information based on message responses. Customers are concerned about data security as a result of banking's digital transformation. Despite the importance of personal information in banking transactions, over 60% of customers are concerned about its misuse.
With the introduction of 5G, global Rich Communication Services Demand is expected to skyrocket due to reduced latency, data, and media content delivery issues; and the key telecom operators are expected to offer RCS as part of their 5G services in the forthcoming years.
The majority of active RCS users are currently concentrated in the United States, South Korea, Japan, and Germany, where operators provide the service; however, due to Google's ongoing efforts, RCS user base in Mexico, the United Kingdom, and France is also expected to surge. These demographics are expected to shift quickly in the coming years, owing to strong 5G support.
Among the leading players in the global Rich Communication Services (RCS) Messaging market are Global Message Services, Infobip Ltd., Interop Technologies, Mavenir, SK Telecom Co. Ltd., Deutsche Telekom, Edgecore Networks, and Google. To gain a competitive advantage in the industry, these market players are investing in product launches, partnerships, mergers and acquisitions, and expansions.
Market growth is expected to be fuelled by collaborations among current players to improve quality throughout the research period. Over the projection period, established market players are expected to diversify their portfolios and offer one-stop solutions to combat fierce competition.
Similarly, recent developments related to companies in Rich Communication Services Market have been tracked by the team at Future Market Insights, which are available in the full report.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America; Europe; Asia Pacific; Middle East & Africa; Latin America |
| Key Countries Covered | United States, UK, China, South Korea, Japan |
| Key Market Segments Covered | Communication Type, Vertical, Region |
| Key Companies Profiled | Global Message Services; Infobip Ltd.; Interop Technologies; Mavenir; SK Telecom Co. Ltd.; Deutsche Telekom; Edgecore Networks; Google |
| Pricing | Available upon Request |
The global Rich Communication Services (RCS) Messaging Market is worth more than US$ 1.4 Bn at present.
The value of Rich Communication Services (RCS) Messaging Market is projected to increase at a CAGR of around 16% during 2022 – 2032.
The value of Rich Communication Services (RCS) Messaging Market increased at a CAGR of around 36.6% during 2017 – 2021.
Increasing investments in LTE and the IP multimedia subsystem to enable the next generation of broadband mobile services stands as the key trend in Rich Communication Services (RCS) Messaging market.
The market for Rich Communication Services (RCS) Messaging Market in US is projected to expand at a CAGR of around 15.7% during 2022 – 2032.
1. Executive Summary 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on RCS Messaging Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Mn) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background and Foundation Data Points 4.1. Global RCS Messaging Market (US$ Mn) 4.2. RCS Messaging Market Opportunity Assessment (US$ Mn) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Global RCS Messaging Market Growth 4.5.3. RCS Messaging Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. RCS Messaging Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global RCS Messaging Market Demand Analysis 2015-2021 and Forecast, 2022-2032 6.1. Historical Market Analysis, 2015-2021 6.2. Current and Future Market Projections, 2022-2032 6.3. Y-o-Y Growth Trend Analysis 7. Global RCS Messaging Market Value Analysis 2015-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032, By Communication Type 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Communication Type, 2015-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Communication Type, 2022-2032 8.3.1. A2P 8.3.2. P2A 8.3.3. P2P 8.4. Market Attractiveness Analysis By Communication Type 9. Global RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032, By Vertical 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By Vertical , 2015-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Vertical , 2022-2032 9.3.1. Retail 9.3.2. Media & Entertainment 9.3.3. BFSI 9.3.4. Healthcare 9.3.5. Travel & Tourism 9.3.6. Others 9.4. Market Attractiveness Analysis By Vertical 10. Global RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032, By Region 10.1. Introduction 10.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021 10.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 11.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 11.4.1. By Country 11.4.1.1. U.S. 11.4.1.2. Canada 11.4.1.3. Rest of North America 11.4.2. By Communication Type 11.4.3. By Vertical 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Communication Type 11.5.3. By Vertical 12. Latin America RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 12.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Communication Type 12.4.3. By Vertical 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Communication Type 12.5.3. By Vertical 13. Europe RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. France 13.4.1.3. U.K. 13.4.1.4. Italy 13.4.1.5. Benelux 13.4.1.6. Nordic Countries 13.4.1.7. Rest of Europe 13.4.2. By Communication Type 13.4.3. By Vertical 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Communication Type 13.5.3. By Vertical 14. Asia Pacific RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.1.4. Rest of Asia Pacific 14.4.2. By Communication Type 14.4.3. By Vertical 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Communication Type 14.5.3. By Vertical 15. Middle East and Africa RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 15.4.1. By Country 15.4.1.1. GCC Countries 15.4.1.2. South Africa 15.4.1.3. Turkey 15.4.1.4. Rest of Middle East and Africa 15.4.2. By Communication Type 15.4.3. By Vertical 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Communication Type 15.5.3. By Vertical 16. Key Countries RCS Messaging Market Analysis 2015-2021 and Forecast 2022-2032 16.1. Introduction 16.1.1. Market Value Proportion Analysis, By Key Countries 16.1.2. Global Vs. Country Growth Comparison 16.2. US RCS Messaging Market Analysis 16.2.1. Value Proportion Analysis by Market Taxonomy 16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.2.2.1. By Communication Type 16.2.2.2. By Vertical 16.3. Canada RCS Messaging Market Analysis 16.3.1. Value Proportion Analysis by Market Taxonomy 16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.3.2.1. By Communication Type 16.3.2.2. By Vertical 16.4. Mexico RCS Messaging Market Analysis 16.4.1. Value Proportion Analysis by Market Taxonomy 16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.4.2.1. By Communication Type 16.4.2.2. By Vertical 16.5. Brazil RCS Messaging Market Analysis 16.5.1. Value Proportion Analysis by Market Taxonomy 16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.5.2.1. By Communication Type 16.5.2.2. By Vertical 16.6. Germany RCS Messaging Market Analysis 16.6.1. Value Proportion Analysis by Market Taxonomy 16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.6.2.1. By Communication Type 16.6.2.2. By Vertical 16.7. France RCS Messaging Market Analysis 16.7.1. Value Proportion Analysis by Market Taxonomy 16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.7.2.1. By Communication Type 16.7.2.2. By Vertical 16.8. Italy RCS Messaging Market Analysis 16.8.1. Value Proportion Analysis by Market Taxonomy 16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.8.2.1. By Communication Type 16.8.2.2. By Vertical 16.9. BENELUX RCS Messaging Market Analysis 16.9.1. Value Proportion Analysis by Market Taxonomy 16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.9.2.1. By Communication Type 16.9.2.2. By Vertical 16.10. UK RCS Messaging Market Analysis 16.10.1. Value Proportion Analysis by Market Taxonomy 16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.10.2.1. By Communication Type 16.10.2.2. By Vertical 16.11. Nordic Countries RCS Messaging Market Analysis 16.11.1. Value Proportion Analysis by Market Taxonomy 16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.11.2.1. By Communication Type 16.11.2.2. By Vertical 16.12. China RCS Messaging Market Analysis 16.12.1. Value Proportion Analysis by Market Taxonomy 16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.12.2.1. By Communication Type 16.12.2.2. By Vertical 16.13. Japan RCS Messaging Market Analysis 16.13.1. Value Proportion Analysis by Market Taxonomy 16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.13.2.1. By Communication Type 16.13.2.2. By Vertical 16.14. South Korea RCS Messaging Market Analysis 16.14.1. Value Proportion Analysis by Market Taxonomy 16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.14.2.1. By Communication Type 16.14.2.2. By Vertical 16.15. GCC Countries RCS Messaging Market Analysis 16.15.1. Value Proportion Analysis by Market Taxonomy 16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.15.2.1. By Communication Type 16.15.2.2. By Vertical 16.16. South Africa RCS Messaging Market Analysis 16.16.1. Value Proportion Analysis by Market Taxonomy 16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.16.2.1. By Communication Type 16.16.2.2. By Vertical 16.17. Turkey RCS Messaging Market Analysis 16.17.1. Value Proportion Analysis by Market Taxonomy 16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.17.2.1. By Communication Type 16.17.2.2. By Vertical 16.17.3. Competition Landscape and Player Concentration in the Country 17. Market Structure Analysis 17.1. Market Analysis by Tier of Companies 17.2. Market Concentration 17.3. Market Share Analysis of Top Players 17.4. Market Presence Analysis 17.4.1. By Regional footprint of Players 17.4.2. Product footprint by Players 18. Competition Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Competition Deep Dive 18.3.1. Global Message Services 18.3.1.1. Overview 18.3.1.2. Product Portfolio 18.3.1.3. Sales Footprint 18.3.1.4. Strategy Overview 18.3.2. Infobip Ltd. 18.3.2.1. Overview 18.3.2.2. Product Portfolio 18.3.2.3. Sales Footprint 18.3.2.4. Strategy Overview 18.3.3. Interop Technologies 18.3.3.1. Overview 18.3.3.2. Product Portfolio 18.3.3.3. Sales Footprint 18.3.3.4. Strategy Overview 18.3.4. Mavenir 18.3.4.1. Overview 18.3.4.2. Product Portfolio 18.3.4.3. Sales Footprint 18.3.4.4. Strategy Overview 18.3.5. SK Telecom Co., Ltd. 18.3.5.1. Overview 18.3.5.2. Product Portfolio 18.3.5.3. Sales Footprint 18.3.5.4. Strategy Overview 18.3.6. Alphabet Inc. 18.3.6.1. Overview 18.3.6.2. Product Portfolio 18.3.6.3. Sales Footprint 18.3.6.4. Strategy Overview 18.3.7. Summit Tech 18.3.7.1. Overview 18.3.7.2. Product Portfolio 18.3.7.3. Sales Footprint 18.3.7.4. Strategy Overview 18.3.8. Syniverse Technologies LLC 18.3.8.1. Overview 18.3.8.2. Product Portfolio 18.3.8.3. Sales Footprint 18.3.8.4. Strategy Overview 18.3.9. ZTE 18.3.9.1. Overview 18.3.9.2. Product Portfolio 18.3.9.3. Sales Footprint 18.3.9.4. Strategy Overview 18.3.10. Vodafone Group Plc 18.3.10.1. Overview 18.3.10.2. Product Portfolio 18.3.10.3. Sales Footprint 18.3.10.4. Strategy Overview 19. Assumptions and Acronyms Used 20. Research Methodology
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Rich Communication Services (RCS) Messaging Market
