Dublin, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The "Global Short Message Service Marketing Market Size, Trends and Growth Opportunity, By Component, By Enterprise Size, By Deployment Type, By Terminal Type, By Type of SMS, By End User, By Region and forecast till 2027." report has been added to ResearchAndMarkets.com's offering.
The Global Short Message Service (SMS) Marketing Market was valued at USD 64489.20 million in 2021 and is slated to reach at USD 84904.89 million by 2027 at a CAGR of 3.8 % from 2022-2027.
Company Profiles
- Oracle
- IBM
- Salesforce, Inc.
- Agile CRM
- Bitrix24
- Celerity Systems
- ClickSend
- directSMS
- Dove Soft Pvt Ltd
- Exotel Techcom Pvt. Ltd
Short message service marketing (SMS) is a technique used by businesses to give permission-based text messaging. This is used in conjunction with product promotion.
Short message service marketing, commonly known as text messaging, is popular since it allows different businesses to promote their products/services in order to optimise sales. It primarily incorporates current happenings, as well as offering coupons, special deals, and related information to consumers via text texts.
Market Drivers
The emergence of AI for analysing customer data to produce customised promotional messages is also anticipated to increase demand for short messaging service (SMS) marketing. Artificial intelligence (AI) is used to develop content, optimise delivery, increase consumer engagement, and decrease the cost and turnaround time for responses. Although they are not frequently used, AI-enabled technologies are supported by some businesses' applications.
For instance, IBM Corporation's new Watson Marketing solution uses an AI-powered content management system to enhance customer communications. Short messaging service (SMS) marketing industry leaders provide creative methods to draw in more customers.
As an illustration, TextMagic Ltd. provides SMS API to customers, allowing them to integrate text messaging with their current business software or application. This enables customers to send messages without going to a vendor portal. It is anticipated that increased competition in the industry and a higher rate of market expansion will result from improvements in services and product innovation along with cost-cutting measures.
Market Restraints
The availability of constrained messaging space makes it difficult for the short message service (SMS) marketing business to expand. Because there is a character limit of 160 for messages, the SMS must be concise, clear, and to the point. Long messages exceed the character restriction, which divides the message into multiple smaller ones. Due to the fact that it is no longer appealing to the consumer, the impact on them is lessened.
Market Segmentation
By Component
- Software
- Services
By Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Deployment Type
- SaaS
- On-Premises
By Terminal Type
- Mobile-Based
- Desktop-Based
By Type of SMS
- Transactional SMS
- Promotional SMS
- Alert SMS
- Personalize SMS
By End User
- Advertising and Event Management, Banking
- Financial Services and Insurance (BFSI)
- Cab Aggregator
- Media and Entertainment
- Retail, Hotels and Resorts
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa.
For more information about this report visit https://www.researchandmarkets.com/r/vd8akk-short?w=12
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