Commercial messaging market set to reach $3.2 bn by 2028: Gartner report
commercial messaging market is expected to more than double to $3.2 billion by 2028 from $1.3 billion in 2023, with global advanced messaging channels such as Google's RCS (rich communication services) and Meta's WhatsApp Business intensifying their competition for a bigger share of this growing market.
WhatsApp currently has a head start over Google's RCS with some enterprises saying they have deployed a majority of their messaging on that platform. However, both are set to reach a combined market of $1.6 billion and capture 50% of value share of India's commercial messaging market, according to research firm Gartner.
While basic messaging channels in India such as SMS are set to grow at an annual rate of 12% through 2028, advanced channels such as RCS and WhatsApp will grow at 58% at the fastest pace for any country globally, Gartner said. «Globally, while basic messaging is set to grow at a modest 4.2%, advanced messaging is scaling in double digits at 34.4%,» said Pankil Sheth, industry research analyst at Gartner.
«Meanwhile for India, both these segments are registering a higher double-digit growth due to the evolution of various digital services. However, we believe that by 2028, nearly 50% of the CPaaS (communication-platform-as-a-service) industry will be dominated by these two channels — RCS and WhatsApp — in terms of value.»
He added that even as Google's RCS has started picking up steam, rival WhatsApp Business has already matured in India's CPaaS market and will continue to grow further by deepening
