The A2P SMS market is driven by numerous factors including globally increase in number of mobile users, expansion of A2P messaging services in mobile payment, mobile banking, and mobile health sector. Furthermore, increase in mobile activities by application marketer and developer acts as driver for ARP SMS market demand. A2P messaging services are widely used for broadcasting transactional SMS by a number of industries such as entertainment, banking, financial services, marketing, media, tourism, health, and retail which have led to increase in demand for A2P SMS market.
However, certain factors such as phishing& spam message and concept of bulk SMS are acting as a restraining factor for the growth of A2P SMS market. Contrarily, increasing demand of mobile marketing and hybrid technology are expected to create significant opportunity for A2P SMS market in forecasted years.
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Impact of COVID-19 on A2P SMS Market:
The impact of Covid-19 on the technology market in Asia-Pacific has been realized as changing customer priorities and reduced investments place increased pressure on the organizations.
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SMS is used as a customer service tool, customer engagement tool, authentication and activation mechanism, and a service distributionoccupation byorganizations.Banking and financial institutions and ticketing services are widely adopting the practice of networking with their clients through SMS which is anticipated to fuel A2P SMS market. Availability of low-cost smartphones, along with rising penetration of mobile payments, Internet, and mobile banking is expected to drive A2P SMS market growth in the forecasted years.
Application developers, marketers, and brands uses SMS services to strengthen their customer base, by updating their users with breaking news, campaign offer perks, location-based opportunities, and other important information.Impact of mobile marketing activities on the A2P SMS market is currently high due to the growing trend of SMS marketing in verticals across BFSI, hospitality, leisure, and advertising industries is driving the demand for A2P SMS market.
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Key benefits of the report:
The most popular modes of using A2P messaging are SMS API integration, access via a web interface, or the deployment of a professional enterprise solution.
Key Market Players:
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