The new report by Expert Market Research titled, ‘Global A2P Messaging Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global A2P messaging market, assessing the market based on its segments like components, applications, deployment modes, SMS traffics, end-users, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): About USD 64.5 Billion
- Forecast CAGR (2023-2028): 50%
- Forecast Market Size (2028): Nearly USD 79.30 Billion
The growth of the A2P messaging industry can be attributed to the increasing retail and e-commerce transactions and mobile banking. Globally, rising mobile subscriber numbers and mobile marketing are driving the market expansion. The increasing demand for real-time information from consumers is leading businesses to adopt the technology for enhancing consumers’ experiences, thus boosting the market growth.
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The extensive security given by mobile networking system, the widespread penetration of smartphones globally, and the massive open rates of SMS messaging are expected to accelerate the acceptability of A2P messaging activities over the forecast period. As companies use SMS messaging services to engage with consumers and improve their experience, they are increasing ensuring the security of their company’s and customers’ data. This, in turn, is surging the preference for A2P messaging and augmenting the industry growth.
Industry Definition and Major Segments
SMS is a worldwide method of interacting with people who don’t have access to data services and only have a basic feature phone. Application-to-person application (A2P) SMS is a type of text messaging service that is sent to mobile customers from a web application. This form of SMS service is commonly used for marketing messages, alerts, notifications, and flight alerts.
By component, the market is classified into:
- Platform
- A2P Service
The major applications of the A2P messaging are:
- Authentication Services
- Promotional and Marketing Services
- Pushed Content Services
- Interactive Messages Services
- Customer Relationship Management Services
- Others
On the basis of deployment mode, the market includes:
- On-Premises
- Cloud
By SMS traffic, the market is bifurcated into:
- National Traffic
- Multi-Country
The significant end-users of the A2P messaging include:
- Banking, Financial Services, and Insurance
- Retail and Ecommerce
- E-Governance
- Hyperlocal Businesses
- Healthcare
- Travel and Hospitality
- Others
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The growing use of mobile banking services are expected to boost the market growth in the coming years. Technological advancements `are expected to fuel the market over the estimated time. The growing adoption of cloud API messaging platform owing to its advantages for messaging, such as two-way messages, archiving, charging, notification, and OTP authentication, is estimated to propel the market growth.
With the increasing number of registration and log-in by consumers in A2P SMS business, the market is witnessing robust growth. Furthermore, the growing popularity of promotional campaigns, push content services, inquiry related services, and interactive services, among others, is surging the use of A2P messaging, which is projected to drive the market growth in the forecast period.
Key Market Players
The major players in the market are Sinch AB, Infobip Ltd., Twilio Inc., Comviva Technologies Limited, and Route Mobile Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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