NEWARK, Del, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The global A2P messaging market is projected to reach a value of US$ 98.3 billion in 2032, with sales growing at an average CAGR of 4% from 2022 to 2032. By the end of 2022, the target market will likely reach an estimated US$ 66.1 billion.
The Application to Person (A2P) messaging system is used for notifications and as an invoicing process for basic needs and services. This system is now being used for payment purposes, too, which have led to widespread adoption across various industries. This bodes well for the A2P market growth during the forecast period.
The A2P messaging system is gaining rapid adoption across healthcare, banking, and finance industries. Patients and different medical organizations are swiftly adopting A2P messaging technology in the healthcare space for various patient-reminding purposes.
Messaging applications often result in proper medication and convention compliance, assist with patient observation and aftercare procedures, and help with adjusting to a different set of behavior. For instance, a smartphone application called cHEmotHErApp has the vital capacity to convey SMS text messages with directions for taking care of oneself and emotional support for patients undergoing chemotherapy or other procedures.
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In addition, A2P messaging also plays an important role in the BFSI sector. It's the kind of message traffic in which a consumer receives a message from any bank application and financial establishment. A2P SMS is not limited to PIN codes, one-time passwords (OTPs), notices or chatbots, and advertising messages sent by BFSI.
BFSI A2P SMS also aids in accounting for a large number of customers affordably and it has vast scope too since customers are interested in receiving text messages post each transaction. All of these considerations, along with others, spur the demand for the A2P messaging market during the forecast period.
“Rapid digitalization and widespread adoption by industries like BFSI, and healthcare will propel the global growth of the A2P messaging market over the forecast period,” says an FMI analyst.
Key Takeaways from the A2P Messaging Industry Analysis
- Shifts from A2P SMS services to OTT may hamper the target market.
- North America is expected to dominate the global A2P messaging market.
- The A2P messaging market in the U.S. will grow at a CAGR of 3.6% during 2022-2032.
- By component, the platform segment is predicted to register a 3.6% CAGR.
- Promotional and marketing services contribute substantially to the overall market growth.
Competitive Landscape
Top 10 Key Players in A2P Messaging Industry
- AT&T
- Sinch,
- Infobip
- Comviva
- Bics
- Tata Communications
- Genesys
- Global Message Services(GMS)
- Monty Mobile
- China Mobile
These market participants are concentrating on expansion strategies. These organizations are keen on product development, new product releases, partnerships, and collaborations to strengthen their market position.
More Insights into A2P Messaging Market Report
In its latest report, FMI offers an unbiased analysis of the global A2P messaging market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032.
To understand the global market potential, growth, and scope, the market is segmented on the basis of component (platform, A2P service), deployment mode (cloud, on-premises), application (authentication services, promotional and marketing services, customer relationship management services, pushed content services, interactive messages, others), SMS traffic (national, multi-country), end user (BFSI, retail and e-commerce, hyperlocal business, healthcare, travel and hospitality, others), and region.
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Global A2P Messaging Market by Category
By Component
- Platform
- A2P Service
By Deployment Mode
- Cloud
- On-premises
By Application
- Authentication Services
- Promotional and Marketing Services
- Customer Relationship Management Services
- Pushed Content Services
- Interactive Messages
- Others
By SMS Traffic
- National
- Multi-country
By End User
- BFSI
- Retail and E-Commerce
- Hyperlocal Business
- Healthcare
- Travel and Hospitality
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About the Author
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently recognized him as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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