| Source: Research and Markets
Dublin, June 03, 2024 (GLOBE NEWSWIRE) — The “Global A2P Messaging Market by Offering (Platforms, Services), Application (Authentication, Promotional & Marketing, CRM), Communication Channel (SMS, Operator IP, Third-party Apps, Fixed Fees), SMS Traffic, End User and Region – Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The global A2P messaging market size is projected to grow from USD 73.1 billion in 2024 to USD 84.8 billion by 2029, at a CAGR of 3% during the forecast period. Urbanization leads to increased connectivity and smartphone usage, which in turn drives the demand for A2P messaging services as businesses target urban populations with their services and promotions.
By SMS traffic, the international segment is expected to grow with the highest CAGR during the forecast period.
Globally, SMS messaging is expanding as enterprises seek to engage customers worldwide through convenient channels. Multi-country SMS traffic, routed internationally via Signaling System 7 (SS7) connectivity, although lower in volume, yields substantial revenue. The rising demand for multi-country A2P traffic, driven by applications like two-factor authentication, finds particular use in industries such as travel, IT, and telecommunications. Alongside, ensuring SMS delivery quality and guarding against improper monetization of A2P traffic are growing concerns, prompting enterprises to employ SMS firewalls for effective monetization. Notably, the Asia Pacific region, with its vast mobile subscriber base, stands out as a significant generator of international traffic, solidifying its position in the global SMS landscape.
By communication channel, the SMS segment is expected to hold the largest market size during the forecast period.
This includes circuit-switched SMS/MMS messages that are generated and terminated on operators’ networks. A2P messaging, utilizing SMS as its primary channel, has become integral for businesses across diverse sectors. Its versatility enables a wide array of applications, from essential notifications like appointment reminders and delivery updates to critical functions such as authentication through one-time passwords. Marketing and promotional campaigns leverage A2P SMS for reaching customers effectively, while alerts for emergencies or system downtimes ensure timely communication. Additionally, SMS facilitates customer service interactions, surveys, and internal communications, streamlining processes and enhancing engagement. Its simplicity and widespread accessibility make SMS A2P messaging a cornerstone of modern communication strategies, bridging the gap between businesses and their audience with immediacy and efficiency.
Asia Pacific is expected to grow with the highest CAGR during the forecast period.
The A2P messaging market in the Asia Pacific region is undergoing significant advancements and has witnessed the advanced and dynamic adoption of new technologies and is expected to record the highest market share in the A2P messaging market during the forecast period. The A2P messaging market in Asia Pacific is thriving, fueled by the region’s immense mobile subscriber base and rapid technological advancements. Businesses across various sectors, including BFSI, retail & eCommerce, and travel & hospitality, leverage A2P messaging for transactional notifications, marketing campaigns, customer support, and authentication purposes.
The report provides insights on the following:
Key Attributes:
Key Topics Covered:
Executive Summary
Premium Insights
Market Overview and Industry Trends
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Industry Trends
Case Studies
Companies Featured
For more information about this report visit https://www.researchandmarkets.com/r/xop69e
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment