The Rich Communication Services Global Market Report 2023, provides comprehensive information on the rich communication services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Rich Communication Services Global Market Report 2023, the market size is expected to grow from $8.31 billion in 2022 to $10.07 billion in 2023 at a compound annual growth rate (CAGR) of 21.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the rich communication services is expected to grow to $21.6 billion in 2027 at a CAGR of 21.0%.
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Technological advancements have emerged as a key trend gaining popularity in the rich communication services market. Major companies operating in the rich communication services market are introducing new technologies to sustain their position in the market. For instance, in November 2020, Google, a US-based multinational technology company that focuses on search engine technology, introduced a new conversation feature on its SMS project RCS (Rich Communications Services) for users everywhere to improve the experience of conventional texting. In the future, users of Google messaging will be able to exchange end-to-end encryption, high-resolution images, and receipts in addition to previously existing capabilities like video calling and Smart Reply to combat spam. To replace the conventional messaging system, Google introduced the advanced chat feature on RCS that does not require a “separate account.” Throughout the world, RCS works on all networks, phones, laptops, and operating systems.
The rich communication services market is segmented:
1) By Deployment Type: On-Premise, Cloud
2) By Enterprise Size: Small And Medium Enteprises, Large Enterprises
3) By Application Type: Rich Calls And Messaging, Content Delivery (Content Sharing, File Transfer), Value Added Services (VAS), Marketing And Advertising Campaign, Cloud Storage
4) By Industry Vertical Type: Healthcare, Retail And E-commerce, BFSI, IT And Telecom, Travel And Tourism, Other Industry Vertical Types
North America was the largest region in the rich communication services market in 2022.
The table of contents in TBRC’s rich communication services market report includes:
- Executive Summary
- Rich Communication Services Market Characteristics
- Rich Communication Services Market Trends And Strategies
- Rich Communication Services Market – Macro Economic Scenario
- Rich Communication Services Market Size And Growth
- Rich Communication Services Market Segmentation
- Rich Communication Services Market Regional And Country Analysis
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- Rich Communication Services Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Rich Communication Services Market
- Rich Communication Services Market Future Outlook and Potential Analysis
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