Latest Report Available at Orbis research Rich Communication Services Market provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.
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The global rich communication service market is expected to register a CAGR of 40.51% during the forecast period of 2018-2023. The number of smartphone users is forecasted to grow from 1 billion in 2014 to around 2 billion in 2019, with smartphone penetration rates witnessing a robust growth. About 36% of the world’s population is expected to use a smartphone by 2018, up from about 10% in 2011. However, the rich communication service market faces major hindrances, such as the competition of OTT players and the lack of awareness among organizations, regarding high data consumption and use. The messaging market has gradually become more competitive, with the entry of major OTT players, such as Line, Skype, and WhatsApp.
Direct Association of Service Providers to Drive the Market’s Growth
Rich communication services are provided with the help of an application provided by the mobile carrier itself. These applications, while offering native support like SMS, also provide multiple added functionalities, such as quick connection, live responses, and larger file support in case of MMS. Due to these factors, such applications are expected to receive a higher user acceptance. The volume of SMS communication has been continuously declining, especially in the mature markets of North America and Europe. Therefore, carriers have been making significant investments on the development and deployment of rich communication services.
VoLTE Expected to Gain Traction over the Forecast Period
The carriers are moving messaging services to an all-IP, IMS-based platform, using RCS. VoLTE (Voice over LTE) also uses rich communication suite (RCS) and IP multimedia subsystem (IMS). VoLTE technologies enable value-added services, such as video calling. The biggest factors driving the growth of VoLTE services will be operators reducing costs and increasing capacity by moving voice calls from 2G and 3G networks to LTE (4G) network. The lower frequency spectrum that is freed can be reused for data services. Additionally, the LTE interface is more efficient, while carrying calls relative to traditional calls, due to the growing number of compatible devices and successful VoLTE service launches by competitors.
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United States to Hold Major Share in North America over the Forecast Period
The United States was one of the first countries to launch LTE back in 2010, and it has built one of the most extensive mobile broadband infrastructures in the world. The 4G subscribers of the country can expect to connect to an LTE network more than 70% of the time. The country ranks among the top 10 countries in the world in terms of coverage, considering its broad geography. Most of its peers in the top 10 tend to be small countries like South Korea and Singapore. However, that same network robustness does not apply to its 4G capacity. The United States lags far behind in the global LTE speed, as many other countries have started providing consistent 20 Mbps speed, and the US average is 12 Mbps. Countries in Asia-Pacific and Europe have been able to deploy such faster networks, as they are able to tap into new and larger blocks of spectrum that can support much more 4G capacity and faster connections.
Recent Developments
January 2017: Telefónica selected Huawei Solutions, to build a large-scale virtual evolved packet core (vEPC) network. Huawei will build vEPC in 13 countries, as a part of its Unica network virtualization program. The two companies agreed to deploy the vEPC on 4G LTE networks in 11 nations in Latin America, including Brazil, Uruguay, Argentina, México, Peru, Panama, Colombia, Costa Rica, El Salvador, Nicaragua, and Guatemala. This also includes Germany and Spain.
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Major Players: HUAWEI TECHNOLOGIES CO. LTD, XURA INC., NEUSOFT CORPORATION, NOKIA SIEMENS NETWORK INC., VODAFONE GROUP PLC, LG UPLUS CORP., D2 TECHNOLOGIES INC., AND GENBAND US LLC, amongst others.
Reasons to Purchase this Report
Understanding how the market scenario of rich communication services is changing.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
The security technology, service, and vertical that are expected to dominate the market.
The regions that are expected to witness the fastest growth during the forecast period.
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Companies Mentioned:
Huawei Technologies Co.Ltd, Xura Inc, Deutsche Telekom AG, Acme Packet Inc, Neusoft Corporation, Infinite Convergence Solutions Inc, Siummit Tech, Movistar, Nokia, Siemens Network Inc, Metaswitch Networks Corp, Vodafone Group PLC, LG Uplus Corp, D2 Technologies Inc, Genband US LLC
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