Tuesday, June 25, 2024
MediaXO.1100x220
MT2.1100x220
DigitalSelect1100x220
CFM1100x220
    MediaXO.1100x220
    CFM1100x220
    MT2.1100x220
    DigitalSelect1100x220

    Spend in OTT messaging apps to hit $50bn globally by 2028, despite RCS Apple boost

    Despite a fall in OTT messaging’s global market share of conversational commerce spend from 53% in 2024, to 45% in 2028 and with Apple now backing RCS at some point in 2024, OTT messaging apps will remain the dominant channel for conversational commerce, a new study finds.

    Much of this spend will be driven by the advanced capabilities of OTT messaging apps, including interactive calls to action and rich media, finds Juniper Research. These features, it predicts, will enhance the consumer experience; attracting high-spending users to engage in further commerce activity.

    OTT business messaging enables enterprises to communicate with customers via third-party messaging applications.

    OTT messaging apps, being standalone platforms, can move quickly to integrate new technologies, including AI-based personalisation for cross-selling and upselling opportunities. This will be imperative in high-spending industries such as retail, as OTT messaging apps will be deployed as part of an omnichannel marketing strategy alongside messaging channels like RCS (Rich Communications Services).

    Find out more about the new report, Global Conversational Commerce Market 2023-2028, or download a free sample.

    RCS to be the fastest-growing conversational commerce channel

    Despite the dominance of OTT messaging apps, RCS commerce spend is forecast to grow by more than 3,500% over the next five years; from $350 million in 2023, to $12 billion in 2028. This growth will be driven by the roll-out of RCS-capable devices, increased RCS operator support and consumer availability.

    Additionally, the report found the rich features of RCS, including brand verification, branded messaging, and rich carousels, will allow operators to compete with leading OTT messaging apps through RCS’ improved security and capabilities. This will foster consumer trust to engage in more sophisticated messaging use cases, such as conversational commerce.

    Related Articles

    Subscribe to our newsletter

    To be updated with all the latest news, offers and special announcements.

    MobileArts600x500
    24 Seven 600x500
    Evina 900x750
    SeriouslyFresh 600x500