The global enterprise A2P (Application-to-Person) SMS market is projected to reach a valuation of USD 7.56 billion in 2024, driven by increasing adoption across diverse industries. A2P SMS has emerged as a critical communication tool due to its effectiveness in customer notifications, authentication codes, appointment reminders, and promotional messages.
The market is forecasted to grow at a compound annual growth rate (CAGR) of 4.5% through 2034, surpassing USD 11.74 billion by the end of the forecast period. This growth is fueled by the widespread availability and accessibility of mobile phones, coupled with the immediacy and reliability of SMS as a preferred communication channel for enterprises.
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Alerts that are time sensitive, along with authentication of active users are some of the key factors accelerating the growth of the enterprise A2P SMS market. However, it is identified that certain elements prevailing in the market are likely to deter the growth of the industry through 2033. There are a large number of privacy and security threats in the concerned market, which is estimated to restrain the market from advancing forward.
Key Takeaways from the Enterprise A2P SMS Market
- The enterprise A2P SMS market registered a moderate-paced CAGR of 5.5% during the period 2018-2022.
- The cloud API messaging segment accounted for the highest revenue share of 56% during the base year.
- The BFSI segment accrued the largest share of the enterprise A2P SMS market with 29$ in the year 2022.
- The North American region is forecast to dominate the enterprise A2P SMS market through the forecast period, with the U.S. registering a CAGR of 2.6% through 2033.
“Extensive reaching capabilities and the cost-effective nature of enterprise A2P SMS services is likely to curate lucrative growth opportunities for the key players in the industry.” – Says an FMI Analyst.
Competitive Landscape in the Enterprise A2P SMS Market
The manufacturers in the enterprise A2P SMS market are indulging in activities that would fuel the rapid advancement of the aircraft sensor industry through the forecast period. They are collaborating and entering into strategic partnerships with other prominent players proliferating in the market. Additionally, they are making significant investments in research and development activities to further launch new services and make innovations to customer experiences. They are entering into mergers and acquisitions to further strengthen their foothold in the market.
Recent Developments
- In January 2021, Mitto made an announcement for partnering with four mobile network operators in Tajikistan for A2P SMS. With the help of this partnership, the company planned on offering reliable A2P messages for the industries like commerce, logistics, entertainment, and social media players for enhanced engagement with customers.
- In April 2021, a leading market player HubSpot made introduction of Operations Hub, a new addition to its suite of tools and CRM platform. This new program is likely to help the organization in unifying data, aligning team numbers, and automating processes surrounding the core goal of delivering an enhanced memorable experience to customers.
- In May 2019, Global Message Services (GMS) made an announcement for partnering with Emirates Integrated Telecommunications Company (EITC), which is a mobile operator in UAE. This company’s partnership is likely to provide an international A2P managed services and messaging hub to UAE’s Du.
Key Coverage in the Enterprise A2P SMS Industry Report
- Enterprise A2P SMS Market in North America
- A2P Messaging Market Outlook
- Adoption of Enterprise Application to Person A2P SMS
- Key Drivers of Enterprise A2P Messaging
- Mobile Business Messaging Market
Key Segments
By Solution:
- Cloud API Messaging
- Traditional & Managed Messaging
- 5G Messaging
By Application:
- Pushed Content Services
- Interactive Services
- Promotional Campaigns
- Customer Relationship Management (CRM) Services
- Others
By End-User:
- BFSI
- Gaming
- Travel & Transport
- Health & Hospitality
- Retail
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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