What Has Been the Growth of the Rich Communication Services (RCS) Market So Far?
The rich communication services (rcs) market has seen considerable growth due to a variety of factors.
•The market size of rich communication services (RCS) has seen substantial growth in the past few years. It's projected to increase from $7.5 billion in 2024 to $10.14 billion in 2025, representing a compound annual growth rate (CAGR) of 35.1%.
The notable growth in the previous period can be credited to the transition from SMS to more robust media, the widespread use of smartphones, accessibility of mobile internet, consumer's preference for improved messaging, and cooperation among mobile operators.
What Are the Future Growth Projections for the Rich Communication Services (RCS) Market?
The rich communication services (rcs) market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations suggest that the rich communication services (RCS) market size is likely to observe exponential growth in the years to come. Its ascension is projected to reach a size of "$34.39 billion by 2029 with a compound annual growth rate (CAGR) of 35.7%.
This growth over the predicted period can be traced to factors such as the deployment of 5G networks, heightened emphasis on customer engagement, incorporation of chatbots and AI, the advent of conversational commerce and the worldwide expansion of the RCS ecosystem. Key trends expected during the forecast period include progress in mobile network technologies, amalgamation with business communication, cooperation between carriers and RCS launches, along with multi-channel communication platforms.
What Are The Core Factors Supporting Growth In The Rich Communication Services (RCS) Market?
It is expected that the rich communication services (RCS) market will expand due to the growing number of individuals and companies subscribing to mobile services. Mobile service subscribers choose service providers offering benefits like voice calls, text messaging, and data services via mobile devices. The unique features and improved user experience provided by rich communication services (RCS) could enhance the appeal for potential mobile service subscribers. For example, data from the Office of Communications, a UK intergovernmental body, reported in February 2023 indicated that the total active UK mobile subscribers reached 83.25 million by the end of March 2022. This number reflected a growth of 2% since March 2021. Hence, the rising subscription to mobile services facilitates the development of the rich communication services (RCS) market.
What Are The Major Segments Within The Global Rich Communication Services (RCS) Market?
The rich communication services (RCS) market covered in this report is segmented –
1) By Type: Application-to-Person (A2P), Person-To-Application (P2A), Person-to-Person (P2P)
2) By Development Model: On-Premise, Cloud
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Rich Calls And Messaging, Content Delivery, Value Added Services, marketing And Advertising Campaign, Cloud Storage
5) By Industrial Vertical: Healthcare, Retail And E-commerce, Banking, Financial Services and Insurance (BFSI), IT And Telecom, Travel And Tourism, Other Industrial Verticals
Subsegments:
1) By Application-To-Person (A2P): marketing Messages, Transactional Messages, Notifications And Alerts
2) By Person-To-Application (P2A): Customer Support Interactions, Service Requests, Feedback And Surveys
3) By Person-To-Person (P2P): One-On-One Messaging, Group Chats, Multimedia Messaging
Pre-Book The Rich Communication Services (RCS) Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Rich Communication Services (RCS) Market?
The rise in technology is a pivotal trend being more widely embraced within the rich communication services (RCS) market. To retain their dominance in the market, companies are incorporating new technologies. For example, in September 2022, Kirusa, an American communication solution provider, introduced its new product RichOTP service. Thanks to RichOTP, companies can deliver secured OTPs to their clients' mobile devices using the messaging app, which is far more dependable and safe than the traditional SMS messaging. This service is engineered to simplify the process of delivering OTPs, which are crucial for secure transactions and validation of accounts.
Who Are the Key Players in the Rich Communication Services (RCS) Market?
Major companies operating in the rich communication services (RCS) market include:
• AT&T Inc.
• Vodafone Idea Limited
• Deutsche Telekom AG
• Google LLC
• Verizon Communications Inc.
• SK Telecom Co. Ltd.
• ZTE Corporation
• Global Message Services
• HRMavenir Systems Inc.
• Infobip Ltd.
• Huawei Technologies Co. Ltd.
• T-Mobile Inc.
• Ericssion
• Reliance Jio Infocomm Limited
• Swisscom AG
• Telefónica S.A.
• Bell Canada Enterprises Inc.
• TELUS Communications Inc.
• Rogers Communications Inc.
• China Mobile Communications Corporation
• NTT Docomo Inc.
• SoftBank Group Corporation
• KDDI Corporation
• KT Corporation
• LG Uplus Corp.
• Singapore Telecommunications Limited
• StarHub Limited
• M1 Limited
• True Corporation Public Company Limited
• TOT Public Company Limited
• Total Access Communication PCL (DTAC)
• Advanced Info Service Public Company Limited
What Is The Most Dominant Region In The Rich Communication Services (RCS) Market?
North America was the largest region in the rich communication services (RCS) market in 2024. The regions covered in the rich communication services (RCS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
