Chicago, June 12, 2024 (GLOBE NEWSWIRE) -- The A2P Messaging Market size is projected to grow from USD 73.1 billion in 2024 to USD 84.8 billion by 2029, at a CAGR of 3.0% during the forecast period, according to a new report by MarketsandMarkets™.
With the proliferation of smartphones, users are increasingly engaging with various applications that utilize A2P messaging for notifications, alerts, and customer engagement.
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A2P Messaging Market Dynamics:
Drivers:
- Rapid technological advancements
- Growing number of mobile subscribers
- Rise in use of A2P messaging among customer-centric industries
Restraints:
- Regulatory constraints
- Stringent government regulations and policies
Opportunities:
- Rise in application usage
- Growth in trend of mobile marketing via messaging
- Increase in adoption of A2P SMS by OTT players to drive revenue for MNOs
List of Key Players in A2P Messaging Market:
- AT&T (US)
- China Mobile (China)
- Sinch (Sweden)
- Twilio (US)
- Infobip (UK)
- Vonage (US)
- Orange (France)
- Comviva (India)
- Route Mobile (India)
- BICS (Belgium
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These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.
A2P messaging offers businesses an efficient and cost-effective means of communication with their customers. Industries such as banking, retail, healthcare, and travel extensively use A2P messaging for transactional and promotional purposes.
By offering, the platform segment is expected to grow with the highest CAGR during the forecast period
The A2P messaging platform consists of SMS aggregation platforms, software applications, and technical support services for their clients. Providers of platforms and software applications interact with end users, who transmit data and information concerning their target audience, the recipients of the A2P messages. These companies establish the infrastructure and liaise with telecom operators for SMS gateway connectivity and server access to facilitate the dissemination of bulk messages. Acting as intermediaries between end users and telecom operators, SMS aggregators transmit text messages to the carriers. However, given the increasing complexity of system setup and associated overheads that end users may find challenging, software application providers furnish them with SMS APIs, streamlining the process.
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By offering, the services segment is expected to hold the largest market size during the forecast period
Within the A2P service framework, telecom operators fulfill the crucial role of delivering A2P messaging services. Often referred to as Mobile Network Operators (MNOs), they serve as dependable and secure conduits for transmitting A2P SMS. MNOs assess and validate A2P messaging requests by examining the profiles and intended applications of enterprise customers. Notably, these operators are progressively transitioning towards directly connected routes, enabling them to streamline communication operations, interact with subscribers directly, and offer wholesale SMS services to enterprises. Dominating the market, telecom operators benefit from governmental and regulatory support in terms of revenue-sharing and monetization policies within their respective regions. Consequently, the services sector holds a significant market share within the A2P messaging ecosystem. Factors such as expanding mobile internet access, cost efficiencies for businesses, and seamless customer communication collectively propel the adoption of the A2P services segment.
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