The global A2P SMS market revenue stood at US$57.27 bn in 2015 and is expected to reach US$83.03 bn by 2024, expanding at a CAGR of 4.2% therein. The volume is expected to reach 2,273.39 bn SMSs by 2024 by, augmenting at a 4.1% CAGR from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 01/16/2018 -- Application-to-person (A2P) SMS is an innovative technology that has gained much prominence in recent years. Rapid growth in the e-commerce industry, the availability of low-cost smartphones, the growing penetration of the Internet, and the resultant rise in cloud and web-enabled services such as mobile payments and mobile banking have been aiding the adoption of A2P SMSs in a number of sectors and applications. The further proliferation of mobile payments, mobile banking, and mobile health services, among others is also expected to fuel the A2P SMS market during the forecast period.
A2P SMS Market: Scope and Methodology
The A2P SMS market report provides an in-depth analysis of the global A2P SMS market for the period 2014 – 2024, wherein 2015 is the base year and the years from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the A2P SMS market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market's growth during the forecast period. The study provides a holistic perspective on market growth in terms of revenue estimates (in US$ Bn) and volume estimates (Bn SMSs) , across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. The report provides cross-sectional analysis of the global A2P SMS market in terms of market estimates and projections for all the segments across different geographic regions. The report also covers profiles of major players, their growth strategies, their market positioning, and the various recent developments, and includes market positioning analysis of key players operating in the A2P SMS market.
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Considerable Scope for Growth in Banking and Finance Sector
A2P SMS is in high demand in several end-use industries – retail, BFSI, travel and transport, healthcare and hospitality, and entertainment (gaming) and media. The retail and BFSI industries account for a significant share in the A2P SMS market.
While other industry verticals have been using SMSs for several years now, banking and finance industries have begun adopting the practice of using SMSs for notifications only in recent years. This end-use segment is anticipated to present significant opportunities for growth in the near future.
A continuous increase in population, rapid urbanization, and a surge in consumer disposable income have brought about the commencement of digitization in retail. This is a key factor driving the adoption of A2P SMS in the retail industry.
On the basis of application, the A2P SMS market is categorized into customer relationship management services, pushed content services, promotional campaigns, inquiry-related services, and interactive services,. Customer relationship management (CRM) services and promotional campaigns are two application segments that are expected to evolve as immensely attractive markets by the end of the forecast period.
This research study on the global A2P SMS market provides a detailed analysis of various applications and End-use Industries of A2P SMS available in the market. Based on the application, the market is divided into pushed content services, customer relationship management (CRM) services, promotional campaigns, interactive services, and inquiry related services. Among the various types of End-use Industries the global A2P SMS market has been segmented into retail, BFSI, travel and transport, healthcare and hospitality, entertainment (gaming) and media and others. The report includes a comprehensive coverage of the underlying economic development factors under the key trend analysis section.
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A2P SMS Market: Segmentation
The report aims to provide in-depth analysis of the global A2P SMS market across geographical regions, which are further segmented to cover in-depth country level analysis. Country wise cross section for all segmentations of the report has also been included in the report. North America region is segmented into the U.S., Canada. Similarly, under Europe, analysis for Germany and France A2P SMS market has been provided. Asia Pacific section includes analysis of the China and India A2P SMS Market. Analysis of A2P SMS market for South Africa, and Nigeria has been provided under MEA region, whereas under South America, A2P SMS markets across Argentina and Brazil have been analyzed. The revenue and volume estimates for these regions and countries is also included in the report. The report also provides key trend analysis for all regions and different policies and regulations implemented in countries across these regions.
Introduction of Innovative Messaging Platforms Boosting Adoption of A2P SMS
In 2015, Asia Pacific led the A2P SMS market and accounted for 40.4% of the overall market revenue. This was followed by North America, which held a 27.6% share in the global revenue. Asia Pacific is likely to retain its leading position throughout the forecast period, with a notifiable rise in the global A2P SMS revenue share by 2024. The introduction of innovative messaging platforms equipped with advanced APIs and messaging gateways has rendered A2P messages convenient and easy to use. These gateways and platforms simplify the process of creating applications used for the generation of A2P SMSs. The increased demand for A2P SMS for applications such as push content services, interactive services, promotional campaigns, and customer relationship management services is driving the market in Asia Pacific.
The A2P SMS market in North America is characterized by a range of factors such as the presence of presence of prominent players, the increasing need for A2P messaging platforms, particularly in financial institutions and banks, and the rise in application areas for these platforms. The A2P SMS market in North America is thus slated to witness a rise in the volume of A2P SMSs being sent, registering an estimated CAGR of 3.6% from 2014 to 2024. The U.S. alone is expected to account for approximately 80% of the total A2P SMSs sent in 2024.
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A2P SMS Market: Competitive Landscape
The report also highlights the competition matrix of the A2P SMS market, positioning all the major players according to their geographic presence, market position, key recent developments, and segment growth. The report also provides key recommendations for various new entrants, small and medium and large market player in the global A2P SMS market
Under the company profiles section, the report provides an overview of the players operating in the market, the strategies deployed by them to gain competitive advantage, the annual revenue generated by them in the past two or three years, and their relevant business segment revenue. The key players profiled in this report include. Syniverse Technologies, LLC, AMD Telecom S.A., Fortytwo Telecom AB., CLX Communications AB, Ogangi Corporation, Silverstreet BV, Tanla Solutions Ltd., Symsoft AB, Cybercomm, Infobip Ltd, Route Mobile Limited, Angkor Data Communication Group Co., Ltd., tyntec, nexmo, and DIMOCO.
The global A2P SMS market has been segmented as follows:
A2P SMS Market: By Application
Pushed Content Services
Customer Relationship Management Services
Inquiry Related Services
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A2P SMS Market: By End-use Industry
Travel and Transport
Healthcare and Hospitality
Entertainment (Gaming) and Media
A2P SMS Market: By Region
Middle East and Africa