Rich Communication Services (RCS) Market by Application (Advertising Campaign, Content Delivery, and Integrated Solutions), End-User (Consumers and Enterprises), Enterprise Size, Enterprise Vertical, and Region – Global Forecast to 2025

2020-07-23
Price :
Published : Jul-2020
No. of Pages : 230

Increasing number of advertising and marketing companies to drive the Rich Communication Services (RCS) market growth

The global RCS market size is projected to grow from USD 5.2 billion in 2020 to USD 11.7 billion by 2025, at a CAGR of 17.6% during 2020–2025. Major growth factors for the market include Increasing investments on digital marketing across the enterprise verticals.

The COVID-19 outbreak has significantly impacted several communication service providers across the globe. Major countries from North America, Europe, APAC, MEA, and Latin America are badly affected in the pandemic and industry giants from several regions are taking initiatives to enable consumers with best quality communication services and stay connected with their network of employees and customers

By application, advertising campaign segment to account for a higher market share during the forecast period

Advertising campaigns via digital marketing is the prominent approach adopted by enterprises to attract customers. Sharing rich media contents have enabled end-users to engage significantly with the enterprises to take benefits of the services. Advertising campaigns may vary from vertical to vertical; for instance, media and entertainment vertical would share advertisings, teasers, or some trailers of upcoming shows. Likewise, BFSI vertical would share interactive media content to advertise funds and policies. Advertising campaigns are mainly followed through SMS protocol and are expected to be significantly offloaded on RCS protocol to enable enhanced messaging service through an interactive platform.

By end-user,enterprises segment to hold a larger market size during the forecast period

By end-users global RCS market is segregated into enterprises and consumers. The enterprises throughout verticals are expected to have a significant dependency on SMS for digital marketing. Deployment of RCS messaging platforms to share media-rich content amongst the end-users is expected to bring growing instances of customer engagements. Apart from digital marketing, RCS can be widely deployed by enterprises to share the relevant information to their customers, which would include tickets, passes, policy details, wealth performance stats, logistics details, product information, service reminders, and others.

Among regions,Asia Pacific to grow at the highest CAGR during the forecast period

APAC is expected to have the highest growth rate in the RCS market among all areas. The high rate of adoption of digital technologies, especially in countries, such as China,India, and Japan has made APAC a lucrative market in the IT industry. The growing development in these countries is expected to provide several new opportunities in the APAC RCS market. The growth driver for RCS in this region is increasing population, rising smartphone connections, increasing the mobile payments, growing the retail industry, and the use of advanced SMS systems for marketing and customer relationship management. Many mobile engagement and communications providers in this region have partnered with various telecom operators to provide rich, personalized multimedia content to their customers. For instance, Karix Mobile had partnered with Google and Reliance Jio Infocomm to support RCS. With RCS, the company helps its clients in providing a more in-depth and richer engagement experience.

Breakdown of primaries

In-depth interviews were conducted with the Chief Executive Officers (CEOs), Chief Marketing Officers (CMO), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the RCS market.

The break up of the profiles of the primary participants is given below:

  • By Company Type: Tier 1 – 34%, Tier 2 – 43%, and Tier 3 – 23%
  • By Designation: C-Level – 50%, Director Level – 30%, and others- 20%
  • By Region: North America – 25%, Europe – 30%, APAC– 30%, MEA- 10% and Latin America– 5%

Research Coverage

The RCS market is segmented by application (advertising campaign, content delivery, and integrated solutions), end-user (consumers and enterprises), enterprise size, enterprise vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews, services; key strategies; new service launches, partnerships, agreements, and collaborations; and competitive landscape associated with the RCS market.

Key benefits of the Report

The report would help the market leaders and new entrants in the following ways:

  • It comprehensively segments the rich communication services market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across different regions.
  • It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
  • It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new service developments, partnerships, and acquisitions.
Filed in: Information Technology
Publisher : marketsandmarkets
More Reports
Title Price Buy Now

Non-Volatile Memory Market by Type (Flash (NAND, NOR), EEPROM, NVSRAM, Embedded, EPROM, 3D NAND, MRAM/STTMRAM, FRAM, RERAM/CBRAM, 3D XPOINT, NRAM), Wafer-Size, End-User Industry, and Geography – Global Forecast to 2025

“Massive growth in digital data volume and proliferated use of smartphones, laptops, and tablets drive overall non-volatile memory market” The non-volatile memory market was valued at USD 54.3 billion in 2020 and is projected to reach USD 83.6 billion by 2025, at a CAGR of 9.0% between 2020 and 2025. Increasing demand for faster access and low power consuming memory devices is expected to drive the overall non-volatile memory market during the forecast period. The rising need for memory devices with high speed, low power consumption, and high scalability is expected to fuel the development of new non-volatile memories. Various players involved in this market strive to address this need with the development of emerging memories, such as RRAM, MRAM, FeRAM, and STTMRAM. “Market fo......
$4950

Cognitive Assessment and Training Market by Component, Organization Size, Application (Clinical Trials, Learning, and Research), Vertical (Healthcare and Life Sciences, Education, and Corporate), and Region – Global Forecast to 2025

“The rising adoption of gamification for cognitive assessment, social distancing practices resulting in increased adoption of eLearning, and the need to test cognition at home,  is expected to act as a growth opportunity for the cognitive assessment and training market.” The global cognitive assessment and training market size grew from USD 3.2 billion in 2020 to USD 11.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 29.3% during the forecast period. Various factors such as the rising adoption of gamification for cognitive assessment, social distancing practices resulting in increased adoption of eLearning, and the COVID-19 pandemic leading to the increased need to test cognition at home are expected to drive the adoption of the cognitive assessment and training marke......
$7150

Walmart – Enterprise Tech Ecosystem Series

Walmart - Enterprise Tech Ecosystem Series Summary Walmart began its e-commerce initiative in 2000 when it created walmart.com and samsclub.com, and has been expanding its digital presence since then. Since 2015, Walmart has partnered with several tech companies, including leaders to tap the power of disruptive technologies. Walmart is also upgrading its retail stores with digital solutions. The company's innovations are geared towards integration of delivery capabilities and achieving seamless consumer engagement via online & offline platforms. The report provides information and insights into Walmart's technology activities, including - - Insights of its digital transformation strategies, accelerator & incubator programs, and R&D and data analytics labs - Overview of technology ini......
$1495

Johnson and Johnson – Enterprise Tech Ecosystem Series

Johnson and Johnson - Enterprise Tech Ecosystem Series Summary Johnson and Johnson has been strategically focusing on disruptive technologies such as AI & Machine Learning, Robotics, IoT, and Digital Therapeutics among various others to digitally transform legacy practices in business. The company has been focused on leveraging digital manufacturing techniques using 3D printing. J&J key accelerators, incubators, & other innovation programs include Janssen Business Development, JLABS, Janssen Disease Interception Accelerator (DIA), and JLINX among others. The company's investment portfolio comprises of Cala Health, BlackThorn, Zebra Medical Vision, Cara Care, and Multiscale to name a few. The report provides information and insights into Johnson & Johnson's tech activities, including......
$1495

Weather Forecasting Services Market by Industry (Aviation, Agriculture, Marine, Oil & Gas, Energy & Utilities, Insurance, Retail, Media), Forecasting Type (Nowcast, Short, Medium, Long), Purpose, Organization Size & Region – Global Forecast to 2025

“Increasing demand for weather forecasting services in agriculture and renewables are driving the weather forecasting services market.” The weather forecasting services market is estimated to be USD 1.5 billion in 2020 and is projected to reach USD 2.3 billion by 2025, at a CAGR of 9.3% during the forecast period. Some of the factors fueling the market’s growth include increasing safety concerns in end-use industries and a rise in climate change patterns resulting in uncertainties related to rainfall. Increasing super computing capabilities and an upsurge in the production of renewable energy are anticipated to open several growth opportunities for weather forecast service providers during the forecast period. The COVID-19 pandemic has impacted the weather forecasting services ......
$4950

Cloud-based Contact Center Market by Component (Solutions and Services), Deployment Model (Public Cloud and Private Cloud), Organization Size, Industry (BFSI, Telecommunications, and Retail and Consumer Goods), and Region – Global Forecast to 2025

The growing need for improving consumer experience has fueled the adoption of cloud-based contact center solutions across the globe The global cloud-based contact center market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.8% during the forecast period, to reach USD 36.1 billion by 2025 from USD 11.5 billion in 2020. Digital business transformation has entered a more challenging and urgency-driven phase due to the COVID-19 pandemic. Global giants provide customers with cost-effective and productive digital solutions as every industry is economically hard-hit by the pandemic. The sudden shutdowns of organizations and institutions increased the demand for cloud solutions and other online services. The cloud-based contact center market in industries such as IT and ......
$7150

Koninklijke Philips NV (Philips) – Enterprise Tech Ecosystem Series

Koninklijke Philips NV (Philips) - Enterprise Tech Ecosystem Series Summary Koninklijke Philips NV (Philips) is a diversified technology company that develops and manufactures medical systems, and lighting products. The company offers patient care and clinical informatics, imaging systems, healthcare transformation services, and home healthcare solutions. It also offers mother and child care, oral healthcare products including male grooming and beauty products, kitchen appliances, air, garment care, floor care products, sleep, respiratory care, and respiratory drug delivery products. It also provides diagnostic x-ray, integrated clinical, magnetic resonance imaging, computed tomography, and molecular imaging solutions. It has operational presence in South Korea, the US, Japan, China, and......
$1495

Data Center Infrastructure Management Market by Component, Application (Asset Management, Power Monitoring, Capacity Management, and Environmental Monitoring), Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2025

Increasing number of cloud and edge data centers to drive the growth of DCIM market The global Data Center Infrastructure Management (DCIM) market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period, to reach USD 2.9 billion by 2025 from USD 1.5 billion in 2020. Digital business transformation has entered a more challenging and urgency-driven phase due to the COVID-19 pandemic. Global giants are providing customers with cost-effective and productive digital solutions as every industry is economically hard-hit from the pandemic. The sudden shutdowns of organizations and institutions increased the demand for cloud solutions and other online services. The DCIM market in verticals such as IT, telecom, BFSI, and media and entertainment, has im......
$4950

Speech Analytics Market by Component (Solutions (Indexing & Query, Speech Engine) and Services), Application (Customer Experience Management, Competitive Intelligence), Vertical, Organization Size, Deployment Mode, and Region – Global Forecast to 2025

Increasing need to improve customer journey and overall experience, growing demand to monitor and improve agent performance, and adherence to regulatory and compliance standards to drive the growth of speech analytics market The global speech analytics market size to grow from USD 1.5 billion in 2020 to USD 3.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period.Speech analytics is a software tool that automates the overall process of delivering insights from customer interactions. It extracts valuable information from multiple customer conversations; decision-makers can use this real-time information to make better decisions. Nowadays, speech analytics solutions can sift through unstructured call data (human voice interactions) to identify the p......
$4950

Identity Verification Market by Component (Solutions and Services), Type (Non-Biometric and Biometric), Organization Size, Deployment Mode, Vertical (BFSI, Government and Defense, and Healthcare and Life Sciences), and Region – Global Forecast to 2025

The global post-COVID-19 identity verification market size to grow at a Compound Annual Growth Rate (CAGR) of 15.6% during the forecast period MarketsandMarkets forecasts the global post-COVID-19 identity verification market size to grow from USD 7.6 billion in 2020 to USD 15.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.6% during 2020–2025. The major growth drivers for the market include increasing digitization initiatives, increasing fraudulent activities and identity theft during the last decade, and Increasing use cases of digital identities among verticals. However, price disparity in identity verification solutions and services may restrain market growth. By type, biometrics to grow at the highest rate during the forecast period Biometric solutions follo......
$4950
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy