CHICAGO, May 16, 2023 /PRNewswire/ -- Through constant improvements to customer experience, industry-specific apps, and technology. The need for A2P messaging is anticipated to increase as organisations realise the importance of personalised, real-time communication, spurring innovation and opening up new business prospects.
The global A2P Messaging Market size to grow from USD 68.3 billion in 2023 to USD 78.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period, according to a new report by MarketsandMarkets.
The global A2P Messaging Market shows a significant growth in the forecast period. The A2P messaging services are used in various applications, such as, promotional campaigns by enterprises in order to promote events, brands, and other activities. Promotional and Marketing services, which include messaging-enabled services that can be availed by users by feeding in certain information, is also gaining traction in the emerging regions, such as Asia Pacific and Middle East and Africa, owing to the growing customer base of mobile phones. The major end-users of the A2P Messaging Market include banking and financial institutions, gaming, retail & e-commerce, hyperlocal businesses and healthcare. A2P messaging services are also used for applications, such as mass voting for contests, announcements, charity and other such uses, which necessitate establishing a wide communication channel between the sender and the receiver.
Browse in-depth TOC on "A2P Messaging Market"
261 - Tables
48 - Figures
224 - Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44
Scope of the Report
Report Metrics | Details |
Market size available for years | 2018 - 2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Value (USD Billion) |
Segments covered | Component(Platform and A2P Service), Deployment Mode (On-premise and Cloud),Application (Authentication Services, Promotional and Marketing Services, Customer Relationship Management Services, Pushed Content Services, Interactive Messages, and Others), SMS Traffic(National and Multi-country), End User (Banking, Financial Services, and Insurance, Retail and eCommerce, Hyperlocal Businesses, Healthcare, Travel and Hospitality, and Others) and Region |
Regions covered | North America, Europe, APAC, MEA, and Latin America |
Companies covered | AT&T (US), Sinch (Sweden), China Mobile (China), Infobip (UK), Orange (France), Route Mobile (India), Comviva (India), Twilio (US), BICS (Belgium), Monty Mobile (UK), Syniverse (US) and many more. |
Factors contributing to the high growth rate in these regions are growing number of mobile subscribers, increasing number of advertising and marketing companies, and growing use of A2P messaging among major industries. These factors are also expected to shape the future of the global A2P Messaging Market. However, the market also faces several challenges, including the increasing competition from global OTT vendors, and SMS fraudulent activities, such as SMS phishing, and SMS spamming.
Among vertical, the BFSI segment is expected to dominate the market during the forecast period
Based on vertical, the BFSI segment of the A2P Messaging Market is projected to hold a larger market size during the forecast period. The BFSI vertical is witnessing a rise in the adoption of A2P messaging due to several driving factors. These factors include the need for effective customer engagement, heightened security measures, payment notifications and reminders, transactional updates, marketing opportunities, and the convenience and accessibility provided by A2P messaging. Financial institutions are leveraging this communication channel to enhance customer experience, improve security, streamline transactions, and strengthen their overall service offerings.
By deployment mode, on-premises segment to record a higher growth rate during the forecast period
By deployment mode, on-premises segment is expected to record a higher growth rate during the forecast period. The on-premises segment and deployment mode is adopted by players who can install the platform at their own end without taking the service from a cloud service provider. The need for enhanced data security and compliance adherence, the desire for customization and flexibility, the requirement for optimal performance and reduced latency, the presence of regulatory and compliance restrictions, concerns regarding privacy and data control, and the necessity for seamless integration with existing legacy systems will drive the market.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=44
Asia Pacific to record the highest growth during the forecast period
The APAC A2P Messaging Market is estimated to have strong growth in the future. These drivers include the widespread adoption of mobile devices, particularly high mobile penetration rates in the region. Additionally, the flourishing e-commerce market, with a growing number of online consumers, has led to increased demand for A2P messaging services for order confirmations, delivery updates, and transactional notifications The adoption of mobile banking and mobile payment solutions, along with government initiatives leveraging mobile technology for citizen services, have further accelerated the demand for A2P messaging.
Top Key Companies in A2P Messaging Market:
Major vendors in the A2P Messaging Market include AT&T(US) ,Sinch(Sweden), China Mobile (China), Infobip(UK), Orange (France), Route Mobile (India), Comviva (India), Twilio(US), BICS (Belgium), Monty Mobile (UK), Syniverse (US), Global Message Services (Switzerland), Tyntec(UK), Silverstreet (Singapore),Vonage (US), Genesys (US), TATA Communications(India),Cequens (Egypt),Mitto(Switzerland),ClearSky Technologies (US), Sify Technologies (India), MSG91 (India), Textlocal (UK), Clickatell (US), Kaleyra (Italy), MessageBird (The Netherlands) TeleWhale (Cyprus).
Recent Developments:
- In June 2021, AT&T partnered with Google Cloud to offer RCS messaging to businesses. The partnership would enable businesses to use Google's RCS business messaging platform, which offers features such as chatbots and rich media messages, to communicate with customers over AT&T's network.
- In November 2020, Twilio acquired Segment, the market-leading customer data platform, at USD 3.2 billion. This acquisition helps developers and companies to access the world's leading cloud communications platform to effectively manage customer communications, including SMS, Messaging, Voice, Video, Email, and Internet of Things (IoT).
- In September 2020, Infobip partnered with Span to help Span build connected customer experiences through Infobip's entire customer engagement and experience portfolio, thereby onboarding new customers looking to accelerate digital transformation.
- In June 2020, Sinch announced to acquire ACL Mobile Limited, thereby expanding its operations in India. ACL Mobile limited is one of the leading providers of cloud communications services in India and Southeast Asia and with the acquisition of ACL Mobile limited, Sinch enters into the world's second-largest mobile market. ACL Mobile limited has helped more than 500 clients to interact with their customers through multiple channels, including SMS, voice, email, IP messaging, and WhatsApp.
- In May 2020, Infobip launched Conversations, a new contact center solution, enabling businesses to integrate the world's most popular communication channels. All the messaging services, including Facebook Messenger, WhatsApp, Live Chat, SMS, and in-house chatbots can be managed through Conversations.
A2P Messaging Market Advantages
Businesses may rapidly reach a big audience with A2P communications. Worldwide, there are billions of mobile devices in use, enabling businesses to communicate with clients across geographies and time zones, expanding their clientele and increasing consumer engagement.
Comparing text messages to other communication methods like email, text messages have impressively high open rates. A2P messaging is an efficient technique to make sure your messages are seen and read by recipients because studies have shown that the majority of text messages are read within minutes of delivery.
A2P messaging enables real-time communication, enabling companies to instantaneously send customers time-sensitive information, notifications, alerts, or updates. When conveying time-sensitive information or in urgent situations, this speed of communication is very important.
A2P messaging is typically less expensive than conventional marketing methods like print or direct mail. It does away with the need for tangible supplies, printing expenses, and postage. Businesses can reach a big audience at a fraction of the expense of traditional marketing strategies because to bulk messaging capabilities.
Businesses can interact with customers in a personalised way by using A2P messaging. Businesses may collect insightful data, improve customer experience, and forge closer connections with their audience by using SMS-based surveys, feedback requests, or two-way messaging.
User authentication and secure communication are both possible with A2P messaging. By forcing users to confirm their identity using a special code given to their mobile device, two-factor authentication (2FA) through SMS, for instance, adds an extra layer of security.
Report Objectives
- To describe and forecast the size of the A2P Messaging Market, by application, by component, SMS traffic, deployment mode, end user, and region
- To describe and forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA)
- To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the A2P Messaging Market
- To analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall A2P Messaging Market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments
- To profile key market players, including top vendors and startups, provide comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials, and provide a detailed competitive landscape of the market
- To analyze competitive developments, such as Mergers and Acquisitions (M&A); new product launches and product enhancements; agreements, partnerships, and collaborations; expansions; and Research and Development (R&D) activities in the market
Browse Adjacent Markets: Mobility and Telecom Market Research Reports & Consulting
Related Reports:
5G IoT Market - Global Forecast to 2028
Smart Transportation Market - Global Forecast to 2028
Satellite IoT Market - Global Forecast to 2027
Mobile Device Management Market - Global Forecast to 2027
Private LTE Market - Global Forecast to 2027
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/a2p-messaging-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/a2p-messaging.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/a2p-messaging-market-worth-78-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301826142.html
