A2P SMS Market Research Report by Forecast to 2023
A2P SMS Market Scenario:
A2P SMS, also commonly known as application to person messaging, is the latest technique where messages are sent to people through application. The service is widely used for applications such as virtual assistant or chatbots, notifications, marketing, reminders for appointments, etc. It is one of the most direct forms of communication. The report offered by Market Research Future (MRFR), unravels that the global A2P SMS market is expected to mark 4.7% CAGR over the review period 2018 to 2023. The A2P SMS market size is presumed to surpass a valuation of USD 50 Bn by 2023.
The global market has been gaining popularity as it is has become more preferable over emails. It has been assessed that the open rate of SMS is way higher than emails. This factor is presumed to drive the expansion of the A2P SMS over the next couple of years. Also, the cost-effectiveness of the A2P SMS service is prognosticated to drive the proliferation of the A2P SMS market in the forthcoming years. The service has proven capability in delivering fast messages which enhances its reliability. It is expected to catalyze the growth rate of the A2P SMS market in the foreseeable future.
A2P SMS Market Competitive Dashboard:
Tyntec (Germany), Trillian Group (Malta), Infobip Ltd (UK), Syniverse Technologies (US), CLX Communication (Sweden), Tata Communications (India), MBlox Inc (US), Tanla Solutions (India), Vonage Business (US), SAP SE (SAP Mobile Services) (Germany), Mahindra Comviva (US), and Twilio Inc (US) are few of the major participants of the global A2P SMS market.
A2P SMS Market Segmentation:
- On the basis of application, the A2P SMS market has been segmented into customer relationship, promotional campaigns, pushed content service, interactive services, management services, and inquiry related services.
- On the basis of end-user, the A2P SMS market has been segmented into BFSI, entertainment (gaming) and media, healthcare and hospitality, retail, travel and transport, and others.
A2P SMS Market Regional Analysis:
The regional evaluation of the global A2P SMS market is included in the assessment that covers four key segments – North America, Europe Asia Pacific (APAC), and the Rest of the World (RoW). A country-level assessment of the global market is also included in the report that offers valuation and comparative study for every regional and country-based segment of the A2P SMS industry.
North America is anticipated to earn higher revenues compared to other regional segments. The large-scale adoption of the service in the end-user industries is anticipated to boost the growth rate of the regional A2P SMS market in the upcoming years. Asia Pacific is also likely to accrue considerable amounts of revenue over the next couple of years. Increasing adoption of technological developments for enhancing marketing policies in the region is projected to lead the growth of the market.