Rich Communication Services (RCS) Market

Key players adopted various strategies to grow in the Rich Communication Services (RCS) Market

The global RCS market size is projected to grow from USD 4.5 billion in 2019 to USD 10.6 billion by 2024, at a CAGR of 18.9% during 2019–2024. Major factors expected to drive the growth of the rich communication services market include an increasing number of advertising and marketing companies and Strict regulations for OTT messaging services to boost the adoption of RCS.

Key and emerging market players include RCS include Google (US), China Mobile Limited (Spain), AT&T Inc. (US), Sprint Corporation (US), Deutsche Telekom AG (Germany), Vodafone Group plc (UK), Verizon (US), Telefonica (US), Orange Business (US), KDDI (Japan), Slovak Telekom (Slovakia), TELIT (Italy), SK Telecom (South Korea), Telstra (Australia), LG U+ (South Korea), Celcom (Malaysia), Freedom Mobile (Canada), Rogers (Canada), T-Mobile (US), and O2 (UK). These players have adopted various strategies to grow in the rich communication services market.

RCS is an IMS-based platform that enables the delivery of communication services beyond traditional voice services and SMS. It provides MNOs with an opportunity to increase their revenues or at least preserve their existing revenues by providing consumers with enhanced communication services, such as instant messaging, chat, live video, content sharing, file transfer, and IP video calls, across devices on any network. Mobile operators also have the opportunity to grab new revenue streams through RCS-based applications, Business-to-Business (B2B) services, advertisements, promotions, and others. Customer retention, influence of social networks, global interoperability, and collaboration between carriers and benefits from investment in IMS and Long-Term Evolution (LTE) are some of the driving factors for the RCS market.

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Expanding business through a partnership with other technology companies to enhance customer service and to increase customer base is a key business strategy of Vodafone (UK) on RCS market. Vodafone is one of the world’s leading MNOs and is the first UK network provider to support RCS messaging across Android mobile devices. With RCS, the company is keen to meet customer expectations for seamless two-way digital experiences. In February 2019, Vodafone had partnered with IMImobile and its creative agency, TMW, to create its first major RCS messaging campaigns. Moreover, the company is heavily investing in the mitigation of interoperability issues that network operators face. For instance, in February 2016, Vodafone and TIM rolled out tests intending to establish an IP interconnection between the two operators’ mobile networks. This has enabled their customers to make calls using Voice over Long-Term Evolution (VoLTE) technology and exchange messages based on the RCS standard.

Collaborating with other players and launching new innovative solutions is a key business strategy of Google(US). It is an established player and a globally recognized vendor for providing software, hardware, and related services to leading enterprises across the globe. The company has been increasingly investing in security, infrastructure, analytics, data management, and AI over the past years. The company is investing a substantial portion of its annual revenue in R&D activities as a part of an organic strategy. In 2018, it invested approximately USD 21.4 billion in the development of new products and services, to expand its business and gain a competitive edge. Google supports the GSMA’s Universal Profile for interoperability across operator networks and devices. In September 2018, Google collaborated with Samsung to offer an enhanced smartphone messaging experience, accelerating the industry initiative toward global RCS coverage and interoperability. Google, with its reliable global infrastructure and consistent user experience, offers RCS technology that helps the mobile community deliver better messaging everywhere.

Related Reports:

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 2024

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Report Code
TC 2679
RI Published ON
11/6/2019
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