Driven forward by multiple factors of growth, global rich communications suite services and subscribers market is set to chart a sturdy trajectory of growth, creating an environment conducive for growth by generating a slew of opportunities for players to tap into. Benefits of rich communications are quickly catching on and this is set to pave way for a robust growth curve over the forecast period of 2019 to 2027. Here, it is pertinent to make note of the fact that use of internet and deeper penetration of mobile phones is leading to significant growth in the market.
Global Rich Communications Suite Services and Subscribers Market: Competitors Landscape
The Global Rich Communications Suite Services and Subscribers Market is marked with proactive measures taken by its many players who are aggressively operating the market playfield. Some of these are driving the market upward by strategic maneuvers. One such development is detailed out below:
In the year 2015, China Mobile partnered with ZTE to come up with a new product – a messaging application. This product is based on rich communication services. This is set to intensify competition in the market.
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Key names in the market include:
- Alcatel-Lucent
- Comverse Inc.,Acision BV
- Ericsson, Genband Inc.
- Huawei Technology Co. Ltd.
- China Mobile Limited Nokia
- Solutions and Networks
- SAP SE
- Mavenir Systems Inc.
- Interop Technologies LLC.
The Global Rich Communications Suite Services and Subscribers Market is witnessing market players take up a range of organic and inorganic growth strategies such as mergers and acquisitions and product development to lay claim to a higher market share over the next few years.
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Global Rich Communications Suite Services and Subscribers Market: Key trends and drivers
The global rich communications suite services and subscribers market is on an upward growth trajectory and as per Transparency Market Research there are numerous trends and drivers that are pushing it forward and upward. Some of the prominent factors of growth in the market are detailed out below:
- Demand for efficient multimedia communications is a notable factor of growth in the market as it creates demand for rich communications suite services. Additionally, a notable increase in users of social media and networks is contributing heavily to this growth.
- A large number of people use mobile phones now, and new opportunities are arising thanks to this in certain developing nations of the world, which are witnessing a robust economic growth, leading to higher disposable income and improvement in lifestyle. This is a major growth propeller in the global rich communications suite services and subscribers market over the forecast period.
- Technological advancements are leading to a host of benefits such as faster delivery and efficient cloud based deployments. This is leading the global rich communications suite services and subscribers on a notable growth curve, contributing significantly to growth in the market.
Global Rich Communications Suite Services and Subscribers Market: Regional Analysis
Europe is anticipated to make major contributions to growth in the market over the forecast period. It will be owed to extant infrastructure, well-developed to provide support to such services. North America would also lay claim to a notable share owing to technological advancement. Asia Pacific is expected to witness an increase in demand. Countries such as China and India will propel the region on to a high growth trajectory.
Rich communication suite (RCS) service provides rich messaging and multimedia services for mobile subscribers. The increasing number of mobile phone users and the need for faster and effective multimedia communication are driving the market of rich communication suite services. Rich communication suite services support the RCS-enhanced variant of the standard to allow fast delivery of new services within the traditional contact list framework.
One of the major drivers of the RCS market is the increasing penetration levels of mobile subscribers in many regions, which is encouraging the implementation of value-added services and applications, specifically mobile broadband, to increase revenues. Rich communication suite market is expected to grow as RCS is becoming widely available on 3G devices.
Messaging is the most significant source of revenue for mobile operators across the globe making it crucial to offer better capabilities to keep services attractive for end users. This market introduces rich messaging services from traditional text messaging to conversational and group messaging. Packed with industry-driven interoperability and media sharing, operators can grab the opportunity to offer simple but rich user experiences over multi-generation access networks.
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European countries are leading this market as a result of higher number of mobile phone users in Europe. The Asia-Pacific market is also showing considerable growth with mobile phone users increasing in number every day and the emergence of new players in the market. Lack of RCS-compliant handsets is one of the major challenges faced by this market, and operators are working on the launch of enhanced applications and services for RCS.
Market Segmentation
Based on Products
- Audio Bridges
- Unified Messaging
- PBXs
- Team Workspaces
- IM/Presence Servers
- Video Endpoints/Infrastructure
- Web Conferencing Servers
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