Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "Global A2P Messaging Market by Component (Platform, A2P Service), Application (Authentication, Promotional & Marketing, CRM), Deployment Mode, SMS Traffic (National, Multi-Country), End-user and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global A2P messaging market is expected 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.
These drivers include the widespread adoption of mobile devices, the ongoing digitalization efforts of businesses, the increasing emphasis on customer engagement, the growing need for security and authentication measures, the significance of transactional and service notifications, the effectiveness of A2P messaging in marketing and promotions, and the industry-specific applications across various sectors.
With the rising use of mobile devices, businesses are recognizing the value of A2P messaging as a direct and efficient communication channel to connect with customers. The market is primarily fueled by the desire to ensure secure transactions, provide real-time updates, implement personalized marketing strategies, and cater to specific industry requirements.
By deployment mode, on-premises segment to record a higher growth rate during the forecast period
By deployment mode, on-premises segment segment is expected to record a higher growth rate during the forecast period. on-premises deployment, organizations can maintain greater control over their messaging infrastructure, ensure compliance, customize the system to their specific needs, address performance requirements, overcome connectivity challenges, integrate with legacy systems, and align with internal policies.
Among applications, authentication services segment to grow at the highest CAGR during the forecast period
Under the applications segment, authentication services segment is expected to grow at the highest growth rate during the forecast period. the drivers for authentication services in the A2P messaging market include security and fraud prevention, compliance and regulatory requirements, user experience, brand protection, industry-specific requirements, and increasing messaging volumes. These drivers are contributing to the growing adoption of authentication services in the A2P messaging market as organizations seek to enhance their messaging security and provide a seamless user experience.
Among regions, Asia-Pacific to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) market is projected to grow at the highest CAGR during the forecast period. The 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 region's focus on financial inclusion has also contributed to the rise of A2P messaging, as it enables financial institutions to reach underserved populations with important account information and payment reminders. 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.
Market Dynamics
Drivers
- Growth of eCommerce
- Growing Number of Mobile Subscribers to Fuel A2P Messaging
- Growing Use of A2P Messaging Among Customer-Centric Industries
Restraints
- Stringent Government Regulations and Policies
Opportunities
- Growing Trend of Mobile Marketing Via Messaging
- Increased Adoption of A2P SMS by OTT Players to Drive Revenue for MNOs
Challenges
- Difficulty in Maximizing Monetization of A2P Messaging
- Grey Route Traffic Causing Significant Revenue Loss for MNOs
- Increasing SMS Fraudulent Activities
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 225 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $68.3 Billion |
| Forecasted Market Value (USD) by 2028 | $78.2 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 A2P Messaging Market, by Component
6.1 Introduction
6.2 Platform
6.2.1 Need for Real-Time Communication to Drive Market
6.3 A2P Service
6.3.1 Cost-Effectiveness and Higher-Reaching Capabilities
7 A2P Messaging Market, by Application
7.1 Introduction
7.2 Authentication Services
7.3 Promotional and Marketing Services
7.3.1 Increase in Promotional Campaigns by Enterprises and Businesses Globally
7.4 Pushed Content Services
7.4.1 Mobile Marketing and Promotional Notifications to Drive Market
7.5 Interactive Messages Services
7.5.1 Need to Deliver Unique Experiences to Customers
7.6 Customer Relationship Management Services
7.6.1 Growth in eCommerce and BFSI Industries
7.7 Other Applications
8 A2P Messaging Market, by Deployment Mode
8.1 Introduction
8.2 On-Premises
8.2.1 Need to Protect and Block Unwanted SMS Traffic
8.3 Cloud
8.3.1 Need to Save Large Upfront Costs
9 A2P Messaging Market, by SMS Traffic
9.1 Introduction
9.1.1 SMS Traffic: Market Drivers
9.2 National Traffic
9.3 Multi-Country
10 A2P Messaging Market, by End-user
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Rapid Growth in Mobile Banking
10.3 Retail and eCommerce
10.4 eGovernance
10.4.1 Need to Improve Government Services
10.5 Hyperlocal Businesses
10.5.1 Need to Keep Localized, Community-based Businesses Active and Alive
10.6 Healthcare
10.6.1 Need to Improve Communication to Drive Market
10.7 Travel and Hospitality
10.7.1 Need to Improve Customer Experience
10.8 Other End-users
11 A2P Messaging Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent/Related Markets
15 Appendix
Companies Mentioned
- ALLO
- AT&T
- BICS
- CEQUENS
- China Mobile
- ClearSky Technologies
- Clickatell
- Comviva
- Genesys
- Global Message Services
- INFOBIP
- MessageBird
- Mitto
- Monty Mobile
- MrSpeedy
- MSG91
- Orange
- RazorPay
- Route Mobile
- Sify Technologies
- Silverstreet
- Sinch
- Syniverse
- TasteCard
- Tata Communications
- TeleWhale
- TextLocal
- TWILIO
- Tyntec
- Vonage
For more information about this report visit https://www.researchandmarkets.com/r/xl5kyk
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