According to the new research report published by The Insight Partners, titled “A2P SMS Market – Global Analysis and Forecast to 2025”, the global A2P SMS Market is expected to reach US$ 60.55 Bn in 2025, registering a CAGR of 4.1% during the forecast period 2017 to 2025. The A2P SMS market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. The ubiquitous nature of SMS ensuring maximum reach out to customers who stay even in the remotest areas has prompted marketers to switch to this communication channel. The steady inclination towards using SMS for marketing and other allied activities has been very effective and consequently been adopted by various industry verticals. Apart from that, SMS has also been adopted for security authentication purposes proving to be of high worth to BFSI vertical. High adoptions of A2P SMS have resulted in the revenues of A2P SMS crossing P2P SMS and prompting companies to launch innovative products and solutions in it. Asia Pacific A2P SMS market region is expected to witness a CAGR growth rate of 4.7% in the coming years.
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The A2P SMS market in Asia Pacific is expected to grow at a CAGR of 4.7% during the forecast period 2018 – 2025. APAC broadly has two set of countries, the developed countries and the developing ones. While, we see, volumes of A2P SMS traffic more in the developing economies, while the profit per person earned for operators is in the developed countries. India, China, Philippines, Hong Kong, Vietnam are few developing countries in this region that are focused on socio economic development of their regions. Power of SMS to spread awareness and social welfare is being used to a great extent. In APAC region, mobile commerce is changing the traditional methods of purchasing items and daily financial transactions, and A2P SMS finding a huge application for authentication and promotional campaigning purposes, it is expected that APAC is set to garner the largest market share in the A2P SMS market.
The Innovative Key Players Are :
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The ubiquitous nature of SMS ensuring maximum reach out to customers who stay even in the remotest areas has prompted marketers to switch to this communication channel. The steady inclination towards using SMS for marketing and other allied activities has been very effective and consequently been adopted by various industry verticals. Apart from that, SMS has also been adopted for security authentication purposes proving to be of high worth to BFSI vertical. High adoptions of A2P SMS have resulted in the revenues of A2P SMS crossing P2P SMS and prompting companies to launch innovative products and solutions in it. Importance of marketing and promotional campaigns have prompted marketers to find different communication channels for businesses and thus, A2P SMS has emerged as one the prime revenue sources experiencing high adoption rates. Media & Entertainment industry, Travel & transport industry, Retail industry are the major users of A2P SMS for Interactive services, CRM services and promotional campaigns.
Today, customers want fast, easy, effective and efficient communication and on the move. Last few years have witnessed a significant rise in the usage of mobile-based banking, healthcare services, and retail and e-commerce transactional services. As the competition increases, service providers tend to add value to their customers by bundling various services. Providing live updates about the location of the shipment, credit and debit messages from bank accounts, healthcare related alerts, and live status updates about the current locations of vehicles are few applications that have witnessed an exponential increase in their usage. Demands are ever increasing and with intense competition, it becomes very tough for a service provider to provide maximum value to its customers while minimizing operating costs and extract the best benefits. They are in a constant effort to evaluate least cost routes. Also, retaining a customer is much cheaper and beneficial for any organization rather than finding new customers. This has paved the way for organizations doing a lot of CRM activities
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A2P SMS Market – Type Insight
Based on the types, A2P SMS market is categorized into Traditional and Managed Messaging Services, Cloud API Messaging Platform. In the present time, A2P SMS is attaining high acceptance among various businesses and enterprises for reaching out to the masses and attaining marketing objectives. A new emerging technology for sending bulk SMS to end users which when exploited to its full potentials can give effective and efficient results to the operators. Cloud API is used to build applications in the cloud computing space. It provides a platform where the data can be stored, applications can interact with each other via data. Both vendor specific as well as cross platform interactions can take place through this interface. The added advantage with this type of message delivery for an organization is to use the benefits of cloud services. The major reason behind the high growth rate and adoption is that it provides end users ease and facility to quickly and easily develop applications in short period of time and achieve chargeability like per message fees. Thus, the cloud API messaging platform in A2P SMS market is projected to provide numerous lucrative business opportunities for the market players in the forecast period.
A2P SMS Market – Application Insight
The A2P SMS’s have an broad and extensive application portfolio and have been used in various activities such as interactive, pushed content services, promotional campaigns, CRM services and various other services. The application segment of global A2P SMS market is broadly classified into pushed content services, interactive services, promotional campaigns, CRM services and other services which includes Information Services, Workforce Management. The interactive services involve the response from the customers to complete a certain query or a task. Generally, the best use of interactive services in A2P SMS is done for 2-factor authentication for opening various social networking accounts. Checking the authenticity of the user via SMS tool proves to be the most effective method. Interactive services second biggest users are marketing campaigners. They use it to their great effect by connecting to the masses. Media & Entertainment, Banking, and Finance, and retail sector are among the largest users of interactive services of SMS to connect with their customers today. This factor is significantly driving A2P SMS market.
This Study Report Offers Following Objectives:
Top Points Covered in the Global A2P SMS Market:
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