A2P SMS Market Scenario:
Globally, the A2P market is expected to reach USD 50.1 billion by 2023 with a CAGR of 4.6% during the forecast period. The market growth is attributed to a large number of telecom services provider offering mobile value-added services. Rapid advancement in digitalization, increasing adoption of digital transactions, and rise in digital payments across all commercial sectors are driving the growth of A2P market during the forecast period. Furthermore, integrating artificial intelligence and analytics are likely to gain huge popularity in the A2P market during the assessment period.
For example, most businesses apply A2P SMS Market platform for different activities comprising polls and surveys, company announcements, notifications about update, interaction with the employees, and alerts. As stated in the MRFR report, the application of A2P SMS in the telecom sector is high owing to its surging benefits in external and internal communications. In the local and central government sectors, SMS has significantly assisted in reducing the cost of internal communications and enhance the efficacy of their operations. However, stiff competition in the market, development in mobile malware, and mobile spam are some of the limitations of the A2P SMS market.
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Major Key Players:
The global A2P SMS market is ruled by renowned players such as Infobip Ltd (UK), Tyntec (Germany), Syniverse Technologies (US), Trillian Group (Malta),CLX Communication (Sweden), Tata Communications (India), SAP SE (SAP Mobile Services) (Germany), MBlox Inc (US), Vonage Business (US), Tanla Solutions (India), Twilio Inc (US), and Mahindra Comviva (US).
The application segment of the global A2P market is sub segmented into customer relationship, pushed content services, promotional campaigns, management services, inquiry related services, and interactive services. Based on end user, the A2P market is segmented into travel & transport, retail BFSI, entertainment (gaming) & media, healthcare & hospitality, and others.
Based on geography, the global A2P market is segmented into Asia- Pacific, Europe, North America, and the rest of the world. North America market is likely to represent a noteworthy growth in fueling the A2P demand owing to the availability of many cellular service providers.
The US is estimated to hold the largest market share on account of the expanding internet penetration which is linked with the higher rate of smartphone adoption. Canada is likely to be the fastest developing market in the North America region owing to rising outlay in the region. Asia-Pacific is estimated to be the swiftest growing market holding a significant share of demand throughout the assessment period. The market growth is encouraged by India and China which has beaten the US in the context of smartphone adoption.
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