Product ID: SQMIG50J2008
Report ID: SQMIG50J2008 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 121 | Figures: 77
A2P Messaging Market size was valued at USD 59.22 billion in 2021 and is poised to grow from USD 66.71 billion in 2022 to USD 129.01 billion by 2030, at a CAGR of 8.59% during the forecast period (2023-2030).
The Global A2P Messaging market has been witnessing significant growth over the last few years. The increasing acceptance of A2P messaging across numerous sectors such as BFSI, healthcare, retail, and e-commerce, among others, is positively contributing to the industry's growth for A2P messaging. A2P messaging allows for consumer communication, the delivery of time-sensitive warnings, and the authentication of active users and methods.
Factors such as increased end-user attention on A2P messaging, increasing penetration of mobile ads, and expanding smartphone adoption across all countries are likely to fuel the industry's growth. The increased use of internet services, as well as the integration of OTT messaging platforms such as Facebook Messenger and WhatsApp, which are effective for consumer engagement and acquisition, are driving market expansion. A2P messaging improves client relationships and provides greater connectivity and sales growth. Short Message Service (SMS) stands out as a highly potent strategy aiding enterprises in achieving their marketing objectives. The evidence underscores that SMS yields notably superior returns on investment compared to alternative mediums. This robust, streamlined, and budget-friendly instrument possesses the capacity to connect with a larger audience and secure a heightened rate of response compared to alternative communication avenues.
US A2P Messaging Market is poised to grow at a sustainable CAGR for the next forecast year.
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The Global A2P Messaging Market is divided into various categories including component, deployment, application, end-user, and region. Concerning the component, the market is split into platform and services. In terms of deployment mode, the market is categorized into on-premise and cloud. With respect to Application, the market is separated into pushed content services, interactive services, promotional campaigns, and customer relationship management (CRM) Services. The segmentation based on end-user includes BFSI (Banking, Financial Services, and Insurance), retail and e-commerce, telecom and IT, travel and hospitality, healthcare, and media and entertainment. Lastly, in consideration of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
A2P Messaging Market Analysis by Application Type
The fastest growing segment is expected to be the Promotional Campaigns segment, driven by the growing focus on targeted marketing and the increasing adoption of mobile-based advertising strategies. The largest segment in terms of revenue is the Customer Relationship Management (CRM) segment, which remains a key driver of the A2P messaging market due to the continuous need for effective customer engagement and communication.
A2P Messaging Market Analysis by End-user
The largest segment of end-users in the A2P messaging market is the Banking, Financial Services, and Insurance (BFSI) sector. The BFSI sector relies heavily on A2P messaging services to facilitate secure and timely communication with customers. A2P messaging plays a vital role in delivering transactional alerts, account balance updates, payment reminders, and OTP (One-Time Password) authentication, ensuring efficient and secure banking transactions. The BFSI sector's demand for A2P messaging services is driven by several factors.
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The Asia Pacific region is experiencing rapid growth and is considered the fastest growing region in the A2P messaging market. The region's booming economies, expanding mobile subscriber base, and increasing smartphone penetration are driving the demand for A2P messaging services, and the growth of the A2P messaging market in the Asia Pacific region. Firstly, the region has a large population, with a significant portion of it being mobile-savvy and digitally engaged. Secondly, the rise of e-commerce, digital payment systems, and mobile-based services has created a need for effective customer communication, leading to increased adoption of A2P messaging in industries such as retail, finance, and logistics.
North America is the largest market region in the A2P messaging market. The region's dominance can be attributed to several factors, including the high mobile penetration rate, advanced communication infrastructure, and a matured ecosystem of businesses leveraging A2P messaging for customer engagement and marketing purposes. The North American market has seen widespread adoption of A2P messaging in various industries, including banking, retail, healthcare, and entertainment. Businesses in these sectors utilize A2P messaging for transactional alerts, promotional campaigns, appointment reminders, and customer support, among others.
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A2P Messaging Market Drivers
Increasing Mobile Penetration and Smartphone Adoption to Engage more Consumers
A2P Messaging Market Restraints
Intense Market Competition
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The worldwide A2P Messaging Market is marked by intense rivalry, with numerous contenders competing to secure a notable market portion. The foremost firms within the realm of Media, Communication, and services are dedicating substantial resources to research and development, aiming to maintain a competitive edge by introducing inventive resolutions to their clientele. Several prominent market participants possess a widespread international presence. Furthermore, these entities are actively engaged in broadening their array of products and improving their distribution networks, all in pursuit of delivering enhanced service to their customer base.
A2P Messaging Market Top Player’s Company Profiles
A2P Messaging Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The A2P (Application-to-Person) messaging market is experiencing significant growth and is projected to continue its upward trajectory in the coming years. A2P messaging refers to the transmission of messages from applications or software systems to individuals, providing a reliable and direct communication channel for businesses to engage with their customers. The growth of the A2P messaging market can be attributed to various factors. Firstly, the ubiquity of mobile devices and the convenience they offer have made them an essential part of people's lives, creating a vast customer base for businesses to target. Secondly, the shift towards digitalization and the rising popularity of e-commerce have increased the need for effective customer communication, further driving the demand for A2P messaging services. Additionally, advancements in mobile technologies, improved network infrastructure, and the availability of high-speed internet have contributed to the market's growth by ensuring seamless and reliable A2P messaging transmission.
|Market size value in 2021
|USD 59.22 billion
|Market size value in 2030
|USD 129.01 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global A2P Messaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global A2P Messaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global A2P Messaging Market:
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