CHICAGO, Jan. 14, 2021 /PRNewswire/ -- According to market research report on "A2P Messaging Market by Component (Platform and A2P Service), Application (Authentication, Promotional and Marketing, and CRM), Deployment Mode, SMS Traffic (National and Multi-Country), End User, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the A2P Messaging Market size to grow from USD 62.1 billion in 2020 to USD 72.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period. The global A2P Messaging Market shows a significant growth in the forecast period. The A2P messaging services are used in various applications, such as, promotional campaigns by enterprises in order to promote events, brands, and other activities. Promotional and Marketing services, which include messaging-enabled services that can be availed by users by feeding in certain information, is also gaining traction in the emerging regions, such as APAC and MEA, owing to the growing customer base of mobile phones.
The major end-users of the A2P Messaging Market include banking and financial institutions, gaming, retail & e-commerce, hyper local businesses and healthcare. A2P messaging services are also used for applications, such as mass voting for contests, announcements, charity and other such uses, which necessitate establishing a wide communication channel between the sender and the receiver.
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Factors contributing to the high growth rate in these regions are growing number of mobile subscribers, increasing number of advertising and marketing companies, and growing use of A2P messaging among major industries. These factors are also expected to shape the future of the global A2P Messaging Market. However, the market also faces several challenges, including the increasing competition from global OTT vendors, and SMS fraudulent activities, such as SMS phishing, and SMS spamming.
Among vertical, the BFSI segment is expected to dominate the market during the forecast period
Based on vertical, the BFSI segment of the A2P Messaging Market is projected to hold a larger market size during the forecast period. Increasing subscriber base brings an opportunity for the BFSI industry to engage with their consumers. A2P messaging solution helps them to connect and build a robust connection with customers, from announcing transaction details, and consumer activities, related to retail banking and for and assisting consumers with their needs. Due to constant growth in the number of internet users and the proliferation of Smartphone's, tech-savvy consumers expect quick service. A2P messaging is witnessing huge growth in BFSI sector.
By deployment mode, on-premises segment to record a higher growth rate during the forecast period
By deployment mode, on-premises segment is expected to record a higher growth rate during the forecast period. The on-premises segment and deployment mode is adopted by players who can install the platform at their own end without taking the service from a cloud service provider. In A2P Messaging Market, most end users take the platform from SMS aggregators who service from cloud service providers. There are very few end users who choose on-premise mode of deployment and therefore, the cloud segment holds a large market share leading to on-premises segment growing at a higher CAGR.
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Asia Pacific to record the highest growth during the forecast period
The APAC A2P Messaging Market is estimated to have strong growth in the future. Due to a massive mobile subscriber base, enterprises in this region are becoming more competitive and focusing on offering better customer service in A2P messaging solutions. Thus, the untapped potential of this region is attracting investments by major companies. The growth in the APAC region is primarily attributed to potential opportunities available for advertisers in APAC, given the high concentration of feature mobile phones in this region. Moreover, several multinational companies are focusing on expanding their business in countries across the APAC. This offers potential growth opportunities for A2P SMS providers to increase brand awareness of business organizations.
Major vendors in the A2P Messaging Market include AT&T (US) ,Sinch (Sweden), China Mobile (China), Infobip (UK), Orange (France), Route Mobile (India), Comviva (India), Twilio (US), BICS (Belgium), Monty Mobile (UK), Syniverse (US), Global Message Services (Switzerland), Tyntec (UK), Silverstreet (Singapore), Vonage (US), Genesys (US), TATA Communications (India), Cequens (Egypt), Mitto (Switzerland), ClearSky Technologies (US), Sify Technologies (India), MSG91 (India), Textlocal (UK), Clickatell (US), Kaleyra (Italy), MessageBird (The Netherlands).
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