[FURL=https://www.industryarc.com/Report/39/global-rich-communication-services-RCS-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Global Rich Communication Services (RCS) market[/FURL] is forecast to reach $3.6 billion by 2026, growing at a CAGR of 22.1% during the forecast period from 2021 to 2026. Rising penetration of smartphones along with enhancing standards for digital marketing campaigns are acting as major drivers towards significant growth of rich communication services. Moreover, implementation of universal communication protocol specification by GSM Association (GSMA) to provide a consistent messaging platform experience enabling operator service interoperability has also caused higher adoption towards rich communication services. Factors such as advanced features like group chatting, read receipts, location sharing, media sharing and many others have caused major usage of such services compared to traditional SMS protocols.Key Takeaways
Cloud models are anticipated to have a significant growth during the forecast period in the rich communication services market due to its capabilities of providing faster data delivery within low cost service features.
Key market players such as Summit Technology Inc. and Mavenir have been helping towards significant growth of rich communication services market in North America.
Increased global smart phone penetration along with capability of improving advertising brand campaigns are some of the major driving factors towards significant growth of rich communication services market.
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Rich Communication Services Market Segment Analysis – By Geography
North America has contributed with a major share during 2020 at 34.6% and is anticipated to have a significant growth in the global rich communication services market during the forecast period from 2020 to 2025. Presence of some key players such as Mavenir, D2 Technologies and Summit Technology Inc. is acting as major drivers for the growth of rich communication services market especially for digital marketing and messaging platform services. High investments towards research and development activities along with the growing adoption to improve advertising and marketing campaigns have been fueling the growth for rich communication services market in this region.
Rich Communication Services Market Drivers
Increasing smartphones penetration
Improved advertising brand campaigns
Rich Communication Services Market Landscape
Partnerships and acquisitions along with product launches are the key strategies of the players in the Rich Communication Services market. The major key players in the Rich Communication Services market include Alcatel-Lucent S.A, Infinite Convergence Solutions Inc., Mavenir, Neusoft Corporation, Vodafone Group Plc, Deutsche Telekom AG, Interop Technologies, Google, Summit Technology Inc. and D2 Technologies.
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