A2P Messaging Market to Cross USD 85.93 Billion by 2030 as Businesses are Increasingly Turning to A2P Messaging to Reach Their Customers on the Channels They Prefer | Research by SNS Insider
Based on SNS Insider analysis, the increasing use of AI and machine learning technologies in A2P messaging is also expected to drive growth in the market, as businesses seek to personalize and optimize their messaging campaigns to better engage with their customers.
Pune, March 21, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the A2P Messaging Market had a worth of USD 63.86 billion in 2022 and is projected to attain USD 85.93 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 3.78% during the forecast period spanning from 2023 to 2030.
Market Overview
A2P messaging refers to the process of sending automated messages from a business or organization to a mobile device user. A2P messaging is used by a wide range of industries, including retail, banking, healthcare, and hospitality. Businesses can use A2P messaging to send appointment reminders, promotional offers, delivery updates, and other types of transactional or marketing messages.
Market Analysis
The global A2P messaging market is experiencing significant growth, driven by the increasing emphasis on raising employee and customer engagement by companies worldwide. This growth is being fueled by the widespread use of smartphones across various industries, including healthcare, retail, entertainment and media, BFSI, and tourism. As a result, A2P SMS has emerged as an effective and efficient tool for companies to reach out to a large base of consumers. The rise of A2P messaging is largely attributed to the widespread use of smartphones, which have become ubiquitous in today's society.
Major Company Profiles Listed in this Report are:
Infobip Ltd.
SAP SE
Sinch AB
Vonage Holdings Corp.
Tata Communications,
Tyntec.
Twilio Inc.
Comviva Technologies Limited
Route Mobile Limited
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Impact of Recession on A2P Messaging Market Growth
The recession has had a mixed impact on the A2P messaging market. While there has been a decrease in demand and supply chain disruptions, there have also been some opportunities for growth. The long-term impact of the recession on the market remains to be seen, but it is likely that the market will continue to adapt to changing circumstances and customer needs.
A2P Messaging Market Report Scope:
Report Attributes | Details |
Market Size in 2022 | US$ 63.86 Bn |
Market Size by 2030 | US$ 85.93 Bn |
CAGR | CAGR of 3.78% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
A2P Messaging Market: Key Segments | • By Component (Platform and A2P Service) |
Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The Asia Pacific region has emerged as a dominant player in the A2P messaging market, commanding the largest market share. A2P messaging, or application-to-person messaging, involves the sending of text messages from an application to a mobile user. This mode of messaging has gained significant traction in recent years, owing to its ease of use and cost-effectiveness. The Asia Pacific region has witnessed a surge in the adoption of A2P messaging services, primarily due to the increasing penetration of smartphones and the internet. Moreover, the prevalence of mobile-first approaches in the region has further fueled the demand for A2P messaging services.
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Key Takeaway from A2P Messaging Market Study
The market is expected to witness significant growth over the forecast period, particularly in the BFSI segment. This growth can be attributed to the expanding subscriber base of the BFSI sector, which will provide new opportunities for businesses to engage with their customers.
The cloud segment is expected to dominate the market in the coming years. This can be attributed to several factors, including the increasing adoption of cloud-based communication platforms by businesses, the flexibility and scalability offered by cloud-based solutions, and the growing demand for personalized and contextualized messaging.
Recent Developments Related to A2P Messaging Market
DIDWW, a leading global provider of cloud communications services, has announced the launch of its Alphanumeric A2P SMS in 21 European markets. This new offering is expected to provide businesses with a reliable and secure way to communicate with their customers via text messaging.
Tanla Platforms has introduced the communication landscape by innovating new and advanced technologies. Tanla Platforma aims to drive innovation in the communication industry. Its solutions are designed to make communication faster, more efficient, and more reliable.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. A2P Messaging Market Segmentation, By Component
9. A2P Messaging Market Segmentation, By Deployment Mode
10. A2P Messaging Market Segmentation, By Application
11. A2P Messaging Market Segmentation, By Traffic
12. A2P Messaging Market Segmentation, By Vertical
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
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