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(Wireless-NewsWire.Com, September 20, 2018 ) The Global Rich Communications Services Market was valued at USD 1,785.19 million in 2016 and is projected to reach USD 69,498.20 million by 2025, growing at a CAGR of 50.21% from 2017 to 2025.
Rich communication is a service that provides communication between both mobile service carriers as well as phone carriers. The service is striving to replace another form of communication that is the SMS. This system offers benefits such as an overall richer service that offers more characters per message, the ability to send audio, video and high-resolution images. The service also provides such characteristics such as read receipts, phone polling, voice over Wi-Fi and video sharing and calling.
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As the demand for integrated communication and video services increases, there is an increase in the usage of social networks. Having interoperability between carriers and low-cost services serve as a driving force for the rich communication services market. With the increasing competition in the industry and the high costs related to OTT applications and RCS system are factors that are restraining the market for rich communications service market growth.
Competitive Landscape:
The major players in the market are as follows:
Huawei
Acision
Alcatel-Lucent
Genband
SAP
Mavenir Systems
Ericsson
Comverse
Interop Technologies
Nokia Solutions and Networks
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