Albany, NY -- (SBWIRE) -- 10/24/2017 -- According to a new market report published by Transparency Market Research entitled "BFSI A2P SMS Market - Switzerland Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023," the Switzerland A2P SMS market for BFSI industry was valued at US$130.6 mn in 2014 and is expected to expand at a CAGR of 8.0% from 2015 to 2023, reaching US$262.5 mn by the end of the forecast period.
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The BFSI sector in Switzerland is expected to witness strong demand for the A2P SMS market over the forecast period. This is primarily driven by the growing application of A2P SMS in the banking industry for which includes messages related to banking transactions, online security, account balance, bill payments notifications, and money transfer carried out on a particular bank's merchant site.
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Moreover, the other factors such as strong mobile subscriber base and low unemployment rate are acting as a major elements which are expected to further boost the market demand over the coming years. However, the market demand is anticipated to subdue after 2018 due to continuous decline in number of banks operating in Switzerland and growth of internet penetration.
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The Switzerland A2P SMS market for BFSI industry has been classified on the basis of applications into pushed content services, customer relationship management (CRM), promotional campaigns, interactive services, and inquiry related services. By application, CRM was the leading segment in the Switzerland A2P SMS market for BFSI industry accounting for 32.6% of the total A2P SMS market revenue share. Besides, the promotional campaigns application segment is predicted to grow fastest with a CAGR of 10.0% throughout the forecast period. This is owing to the introduction of new banking products and services including various mobile banking apps.
The Switzerland A2P SMS market for BFSI industry has been segmented as below:
Switzerland A2P SMS market for BFSI industry, By Applications:
Pushed Content Services,Customer Relationship Management (CRM),Promotional Campaigns,Interactive Services,Other (Inquiry Related) Services.