The global Rich Communication Services (RCS) Market is expected to register an exponential CAGR during the forecast period from 2020 to 2027. The geographic analysis of the market has been conducted for Europe, North America, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to dominate the market primarily due to the increasing adoption of RCS across various industry verticals. North America has been segmented into the US, Canada, and Mexico. The US is the leading country-level market, while Canada is projected to be the fastest-growing segment during the forecast period. The US market is expected to report the highest market share, owing to the factors such as high willingness to adopt innovative technology solutions, including RCS. Also, the presence of key players, such as AT&T (US), Google (US), Verizon (US), KDDI America, Inc. (US), Mavenir (US), INTEROP TECHNOLOGIES (US), and Twilio Inc. (US), in the region is expected to be one of the major factors driving the growth of the regional market.
RCS helps consumers in booking appointments, making seamless payments, availing boarding passes, submitting survey answers, receiving notifications from banking & e-commerce institutions, and marketing & promotional alerts. Additionally, it offers features such as rich and verified messages, a large messaging capacity of over 8,000 characters, video calling within messaging applications, group chats, read receipts to sender, and platform-independent messaging.
By application, the global rich communication services (RCS) market has been divided into advertisement, content delivery, integrated solutions, and others.
By end user, the global rich communication services (RCS) market has been divided into individual consumers and enterprises.
Rich Communication Services (RCS) is a communication protocol between mobile telephone carriers and between phone and carrier, aiming at replacing SMS as the standard communication method. It provides a wide range of features compared to SMS, including support for multimedia messages, file transfers, group chats, read receipts, and more. It is also capable of providing additional features such as presence information, location sharing, and more. RCS is being adopted by more and more carriers, but some regions may still not have access to it.
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