5g news business is close to the industrial chain and the investment value of application end is highlighted
Recently, more and more news shows that the time is getting closer to the official commercial use of 5g message (RCS).
Song Hui, an analyst of West China Securities, pointed out in his report on July 2 that RCS has weak advantages in the social field with strong connection (similar to wechat), but has advantages in the field of enterprise information service (such as small programs) with weak connection. However, due to the lack of ecological operation talents, slow technology change and conservative business model caused by the system, RCS will be the supplement of app or small program in the medium and long term, and will not constitute a complete replacement.
From the perspective of operators, Luo Lu, an analyst at Guojin securities, reported on July 27 that the path for operators to promote the landing of RCS is three steps: connection, ecology and service. For the future expectation of RCS business, the close range is an upgrade of the traditional SMS service, and the prospect is to become a message service platform and a future super app.
According to Luo Lus prediction, the operators RCS business probability can achieve the close range target, and increase the market scale of traditional SMS from 40 billion to 100 billion. The realization of the long-term goal requires the value co creation of AI, cloud computing, big data and other ecosystem technology providers. In the long run, RCS business is expected to reach 300 billion market scale.
From the perspective of industrial chain, Song Hui of Huaxi Securities analyzed in the above report, mainly focusing on four categories of directions:
The first category: the SaaS service provider of RCS ecology, the upstream docking operator MAAP platform, the downstream docking enterprise customers, providing RCS message based templates and subsequent value-added services. At present, it can be seen that the relevant manufacturers of traditional enterprise SMS have the advantages of customer channels and message templates, and the layout in this respect is also logical;
The second category: RCS brings enterprises SMS channel upgrading opportunities with strong certainty, and the ecological requirements in this field are not very high. In the case of declining prices of traditional text messages, RCS helps to improve the overall market space of the industry and improve the gross profit level of the industry. Related companies are the same as the first category;
The third category: AI vendors who build and operate Chatbot, and data analysis service providers based on RCS. Relevant manufacturers have certain technical barriers such as big data and artificial intelligence, but the business model is still mainly project-based, and its valuation elasticity is relatively small;
The fourth category: system solution providers supporting the construction of RCS message system of operators, such as platform, pipeline construction service and content audit service based on rich media. However, as the business model is mainly system integration, the competition barriers will not be particularly high, and the business model operators with API / SDK capabilities are still unclear. The whole market space and valuation space is limited.
In addition, from the application side, Pacific Securities analyst Li Hongtao reported on August 9 that considering the direction of operators capital investment and the speed of industrial chain maturity, the application scenarios of TOC will become the focus of investment. Therefore, cloud games, AR / VR, ultra high definition video are expected to take the lead in landing. It is suggested to pay attention to the target of accelerating the mixed transformation of operators and the 5g platform.