The RCS or rich communication service is a platform based on IP multimedia subsystem. It enables delivery of communication services beyond the traditional messaging and voice services. The RCS services help the mobile operators to raise higher revenue and provide enhanced communication services to their customers. Strong rise in demand and rapidly improving technology are some of the vital drivers for the global rich communications services market. The increased reach of the mobile operators to grab new opportunities are driving this industry on global level. Rising demand from the emerging regions of the world is also creating significant opportunities for new investments and mergers with the existing players in various regions.
Scope of Research in RCS Market
In order to understand the basic trends in different components of the industry, the researchers segment this market into different sub-segments. The segmentation in the global rich communications services market is done on the basis of the types of services, end-users, deployment models, and geographic regions. The geographic regions are sub-categorized into North America, Asia Pacific, Latin America, Europe, and Middle East and Africa. The service segment includes services like IP video call, file transfer, VoIP, content sharing, social presence sharing, and so on. Consumers and enterprises are both the major end-user segments in this market. The services are deployed through on-premise and cloud based distribution models.
According to the researchers, the rich communications services market is strongly driven by four major driving factors. These factors include growing influence of the social networks on the customers, customer retention, advantages of investments in LTE and IMS, and global collaborations between the service providers and carriers. According to the experts, competition from over-the-top players and sponsor deficit technologies are expected to be the major restraining factors for the industry. However, the market is anticipated to witness strong growth opportunities from economic feasibility, mobile content administration and integrated video and communication services. As a result, the market is also expected to witness impressive growth in terms of the revenue channels and business opportunities.
As per the experts, major rise in demand from different parts of the world are expected to help the market maintain impressive progress in the years to come. The global rich communications services market is estimated to rise at a CAGR of over 49% from 2014 to 2019. At the projected exponential compound annual growth rate, the market is anticipated to reach past $5,749.6 million by the end of the year 2019. As of year 2014, the market is estimated to be poised at $775.4 million. North America is expected to dominate the global market in terms of market share. However, emerging regions like Asia Pacific and Middle East are expected witness high CAGR during the forecasting period.