Asia Pacific premium A2P and P2A messaging market share is predicted to exhibit considerable growth over the forecast timeline.
Sellbyville, DE -- (SBWIRE) -- 02/05/2019 -- Premium A2P and P2A Messaging Market growth in the segment can be attributed to the rapid increment in the usage of mobile devices for sharing personal information across the web. Authentication services are likely to grow in prominence owing to the high confidentiality technique provided by enterprises to safeguard users' data.
Premium A2P and P2A Messaging Market by applications segments can be categorized into Customer Relationship Management (CRM) services, inquiry & search related services, authentication services, notifications and alerts, promotional & marketing services, voting & entertainment, pushed content services, interactive messages, and others. The authentication services segment is predicted to hold a significant revenue share.
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Based on industry verticals, the premium A2P and P2A messaging market can be segregated into Banking, Financial services, and Insurance (BFSI), government, healthcare IT & telecom, retail & e-commerce, travel & tourism, utilities & logistics, media & entertainment, etc. The e-commerce and retail industry is forecast to hold a key industry share due to smartphone demand, the growing number of internet users, and an increasing number of tech-savvy customers. This service also aids retail store owners to keep in touch with their consumers and partners on a regular basis.
Premium A2P and P2A Messaging Market size is estimated to be valued at over USD 70 billion by 2024, growing at a CAGR of around 5% from 2016 to 2024. Advancements in mobile payments and the ability of banking applications to obtain messages without data connectivity issues are predicted to catapult the premium A2P and P2A messaging market from 2016 to 2024. Furthermore, rising advertising by application vendors & developers and a rapid surge in mobile subscriber strength may fuel the industry growth.
Factors, such as gray routing and complex traditional telecom infrastructure by Mobile Network Operators (MNOs) in the partial realization of the revenue may hamper the premium A2P and P2A messaging market. In addition, the changing government regulations across the world may negatively impact the industry growth.
Rising population, increasing smartphone connections, technological improvisation in the mobile payment industry, and rapid growth in the retail sector may drive the premium A2P and P2A messaging market from 2016 to 2024.
An A2P SMS (application-to-person messaging) is a message, which is sent from an application, stereotypically a web-based one to a mobile subscriber. Its most common uses include alerts, notifications, and mobile-related advertising messages, such as banking updates, flight notifications or new offers from traders. An A2P text message can also be sent in another direction, from a mobile subscriber to a web-based application, where it is known as P2A SMS (person-to-application messaging).
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In the hospitality sector, this service enables in informing clients about advertising hotel, travel & tourism company schemes as well as offers and send them the booking details. This service is of great utility in view of subcontracting activities, where firms can connect with their employees, customers, and consultants. This is likely to prove as a key driving force for the premium A2P and P2A messaging market. In shipping & logistics industries, this service can be used to allow customers and companies for monitoring the shipment status.
The Asia Pacific premium A2P and P2A messaging market share is predicted to exhibit considerable growth over the forecast timeline. This surge can be attributed to the widespread adoption of services across numerous enterprises over the forecast timeframe.
Key vendors operating in the premium A2P and P2A messaging market include Tata Communications, CLX Communications, and Mahindra Comviva. Other market partners are Infobip, SAP, Beepsend, Twilio, and Tyntec.
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