Market Research Report
Global Rich Communication Services Market 2019-2025
|Global Rich Communication Services Market 2019-2025|
Published: May 21, 2019
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Global Rich Communication Services Market Size, Share & Trends Analysis Report by Service Type (Chat, File Transfer, IP Video Call, and Others) and by Deployment Model (On-Premises and Cloud-based), and Forecast, 2019 - 2025
Rich communication services are designed to offer consistent and interoperable messaging services across networks and mobile devices. It avoids the hassle of agreeing to a third-party platform for video chat or group messaging; as the service is assigned to a respective phone number. It can successfully replace SMS messaging services with text message system that includes phonebook polling, and other advantageous services.
The surging popularity of social media along with the rising demand for high broadband services is significantly fueling the growth of the global rich communication services market. The major factors that are driving the growth of the market include increasing mobile subscription, growing investments in IMS (IP Multimedia Subsystem) and LTE (Long Term Evolution), rising demand for mobile value-added services, and large impact of social networks across the globe. This provides an opportunity to mobile network operators for generating considerable revenue from their existing services by enhancing their communication services; which in turn, propels the growth of the market.
The global rich communication services market is further analyzed on the basis of geographical regions, including North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific contributed a prominent share in the global rich communication services market in 2018 and is further anticipated to exhibit the fastest growth rate during the forecast period. Large adoption of rich communication services among small- and medium-business organizations for the content administration creates significant demand for the market. Moreover, the region is a hub for large and emerging vendors operating in rich communication services.
The key players operating in the global rich communication services market include Exomi, Google LLC, Huawei Technologies Co., Ltd., Interop Technologies, Manevir Systems, Inc., Samsung Electronics Co. Ltd., SAP SE, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., and Vodafone Group. The companies are focused on the development of innovative services for rich communication services market to stay competitive in the global market. Geographical expansion, merger and acquisition, partnerships & collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players.
The market study of the global rich communication services market is incorporated by extensive primary and secondary research conducted by a research team. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for research organizations, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.