BASINGSTOKE, England, November 13, 2023–(BUSINESS WIRE)–A new study from Juniper Research, the foremost experts in telecommunications markets, found OTT business messaging traffic will reach 375 billion messages in 2028; rising from 100 billion messages in 2023. It predicts diminishing quality of SMS networks will drive enterprises using mobile business messaging to explore alternative channels, including OTT messaging apps. As a result, operators are expected to lose over $3 billion SMS business messaging revenue globally to OTT channels over the next five years.
Find out more: Global OTT Business Messaging Market 2023-2028, or download a free sample.
Pricing Key to OTT Business Messaging Growth
Reduced SMS network quality is being driven by the rising prevalence of fraud, whilst operators’ SMS prices continue to grow to maintain revenue amidst slowing demand for business messaging traffic. To capitalise on this plateauing SMS market, the report urges OTT app vendors to deploy pricing strategies that attract high-spending enterprises away from established SMS channels. These strategies must separate traffic by uses; charging a premium to enterprises for mission-critical traffic, such as MFA (Multi-factor Authentication).
Retail to Experience Substantial OTT Messaging Growth
The report forecasts a large increase in OTT business messaging spend for retail; from $790 million globally in 2023 to over $2.6 billion by 2028. It urges OTT messaging vendors integrate data from other retail channels into OTT business messaging activities. In doing so, these vendors can position their apps as a key channel for retailers’ eCommerce strategies. To maximise the potential in this space, it is imperative OTT messaging vendors integrate payment capabilities directly into apps to maximise the channel’s value proposition.
About the Research Suite
The new research suite offers the most comprehensive assessment of the OTT business messaging market to date, including insightful market analysis and in-depth forecasts for 60 countries. The dataset contains over 24,300 market statistics within a five-year period. It includes a ‘Competitor Leaderboard’ and an examination of current and future market opportunities.
View the OTT Business Messaging market research: https://www.juniperresearch.com/researchstore/operators-providers/ott-business-messaging-research-report
Download free sample: https://www.juniperresearch.com/whitepapers/top-three-trends-in-ott-business-messaging-in-2024
Juniper Research has, for two decades, provided market intelligence and advisory services to the global telecommunications sector, and is retained by many of the world’s leading network operators and communications platforms.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231112972254/en/
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