Albany, NY -- (SBWIRE) -- 12/20/2018 -- ResearchMoz.us has announced the addition of a report, titled "Application-to-Person (A2P) SMS and API Market". The report on the global application-to-person (A2P) SMS and API market offers a critical assessment of key growth dynamics, major technology trends, key investment pockets in various countries, prevailing competitive landscape, and promising avenues. The staggering rise in number of mobile subscriptions, especially among enterprise users, across the globe is a prominent factor driving the market.
The global A2P SMS and API market is catalyzed by the rising popularity of two factor authentication (2FA) to secure online transactions. The rising adoption of 2FA method is attributed to the rising need for modern methods of securing consumer data related to online transactions in enterprises, world over. Moreover, the global market is expected to witness increasing momentum from the rising application of A2P SMS for mobile marketing. The rise in number of mobile users is also expected to offer robust impetus to the expansion of the market.
The increasing preference of bulk A2P SMSs for consumer communication by businesses in various industry verticals is a notable factor contributing large revenues in the market. The rising popularity of cloud-based applications of A2P SMS and API is expected to impart sizeable revenues in the market. The extensive uptake of technology pertaining to traditional A2P SMS APIs has offered robust impetus to the expansion of the market.
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However, the A2P SMS and API market has been suffering from setbacks on account of concerns related to security breaches among mobile network operators (MNOs). This is on account of the use of outdated security tools by MNOs. The growing monetization of A2P traffic by MNOs further reinforces the vulnerability of breaches. Nevertheless, the burgeoning volumes of online transactions in the e-commerce industry, especially in developing regions, are opening new frontiers in the market. The rapid rise in use of online transaction through smartphones is also expected to open new revenue streams for players in the A2P SMS and API market.
The global A2P SMS and API market is projected to rise at single-digit CAGR during the forecast period of 2017–2024. On the global front, Asia Pacific contributed the major share of revenue in the global market in 2016 and is projected to rise at the most attractive pace in the next few years.
The constant entry of new vendors in the market has upped the ante for incumbent players in the market. The prospects of lucrative returns in the global market have been attracting vendors over the past few years. To strengthen their footprints in the market, several top players are unveiling open source APIs. A growing players are also ensuring quick support services for resolving technical glitches to ease integration of API to any apps.
Some of the prominent players that may play significant role in shaping the competitive dynamics of the A2P SMS and API market are Beepsend AB, FortyTwo Telecom AB, Ogangi Corporation, Tyntec Ltd., OpenMarket, Inc., Nexmo Inc., Syniverse Technologies, LLC, and Twilio Inc.