Global Rich Communications Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
The Rich Communications Services Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2031.
The Rich Communications Services Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global rich communications services market report has been segmented on the basis of service type, user type, deployment type, and region.
This Rich Communications Services Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Rich Communications Services Market Overview:
“The Rich Communications Services Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Rich communication services are advanced forms of short message services (SMS) with features such as sharing location, group chats, notification of typing, etc. Rich communication services are upgraded version of communication protocol that aims at replacing the text messages with an enhanced text-message system that is more interactive to the user.
Increasing focus by major service providers on customer retention, rising influence of social networks among the population, global interoperability, and growing collaboration activities between the carriers are major factors expected to drive the growth of the global rich communications services market.
In addition, the growing service expectancy of users is another major factor expected to boost the growth of the global rich communications services market over the forecast period.
Increasing competition from Over-The-Top (OTT) players and a lack of awareness among organizations regarding the usage of rich communication services are major factors expected to restrain the growth of the global rich communications services market.
However, increasing penetration of cloud-based deployment services is expected to be useful in order to create opportunities for major players operating in the global market.
The market in North America accounted for the highest revenue share in the global rich communications services market in 2016, due to the increasing adoption of rich communication services in countries in the region.
The market in Europe accounted for the second-highest revenue share in the global rich communications services market, due to the increasing number of RCS users and interoperability between MNOs in countries in the region, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively.
The market in the Asia Pacific is projected to register the fastest growth rate in terms of revenue, owing to the increasing number of mobile users and the introduction of RCS-enabled devices in countries in the region.
Moreover, the markets in Latin America and Middle East & Africa are expected to register a moderate growth rates over the forecast period. Revenue from the market in Middle East & Africa is projected to register a CAGR of XX.X% over the forecast period.
Global rich communications services market segmentation:
By Service Type:
- Content Sharing
- IP Video Call
- File Transfer
By User Type:
- Enterprise User
By Deployment type:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- SAP SE
- Alcatel-Lucent S.A
- Huawei Technologies Co., Ltd.
- Ericsson Inc.
- Nokia Networks
- Comverse technology Inc.
- Mavenir systems Inc.
- GENBAND Inc.
- Acision UK Ltd.
- Interop Technologies LLC.
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