Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Rich Communications Suite (RCS) Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Rich Communications Suite (RCS) Services Market to Reach $69.7 Billion by 2030
The global market for Rich Communications Suite (RCS) Services estimated at US$7.8 Billion in the year 2022, is projected to reach a revised size of US$69.7 Billion by 2030, growing at a CAGR of 31.5% over the analysis period 2022-2030.
A2P, one of the segments analyzed in the report, is projected to record a 31.1% CAGR and reach US$48.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the P2p segment is readjusted to a revised 29% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.4 Billion, While China is Forecast to Grow at 37.4% CAGR
The Rich Communications Suite (RCS) Services market in the U.S. is estimated at US$2.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$13.8 Billion by the year 2030 trailing a CAGR of 37.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.8% and 31.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 27.1% CAGR.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 638 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $7.8 Billion |
| Forecasted Market Value (USD) by 2030 | $69.7 Billion |
| Compound Annual Growth Rate | 31.5% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Rich Communications Suite (RCS) Services - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Indispensability of Messaging in Modern Life & Communication Provides the Foundation for the Rise of RCS
- The Rise & Ubiquity of Messaging Bodes Well For the Adoption & Proliferation of RCS
- The Entire Base of Smartphone Users Represent the Target Market for RCS
- Amid this Prolonged Pandemic, Why Should Businesses Care About Progress on Vaccinations?
- With IMF Making an Upward Revision of Global GDP for 2022, Companies Are Bullish About a Continuing Economic Comeback Despite a Prolonging Pandemic
- A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play
- Rich Communications Services (RCS): Definition, Overview, Importance & Benefits Introduction
- Recent Market Activity
- Innovations
MARKET TRENDS & DRIVERS
- Rise of Digital Marketing Opens Up New Opportunities for Adoption of RCS
- Growing Spending on Digital Marketing, Especially Mobile Marketing, Highlights the Importance of Messaging based Ads
- Here's How RCS Will Revolutionize Digital Marketing
- Tightening Regulations for OTT Content Including Messaging Triggers Shift Towards RCS
- Migration from SMS to RCS Gets Underway
- As Enterprises Migrate to RCS Communication Platform, RCS Business Messages to Witness Robust Growth
- Rise of Conversational Commerce Bodes Well for Adoption of RCS
- Growing Spending on Conversational Commerce to Amplify Opportunities for RCS in the Retailing Space
- Telecom Operators to Offer RCS as Part of 5G Services
- 5G Makes its Debut
- RCS Brings the Promise of Enhancing 5G, an Opportunity Telecom Operators Cannot Ignore
- 5G SMS is Here to Stay!
- Benefits of 5G RCS
- Led by China, Competition Heats up
- As Hospitals Tap into Text Messaging to Optimize Patient Communication, RCS to Witness Strong growth
- Growing Popularity of A2P Messaging, Catalyzed the Pandemic Drives Opportunities for RCS
FOCUS ON SELECT PLAYERS (Total 252 Featured)
- Alcatel-Lucent S.A.
- Telefonaktiebolaget LM Ericsson
- Huawei Technology Co. Ltd.
- Interop Technologies LLC
- Mavenir Systems Inc.
- Nokia Networks
- Orange S.A.
- SAP SE
- SK Telecom Co. Ltd.
- Vodafone group Plc.
For more information about this report visit https://www.researchandmarkets.com/r/goxtno
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