The global market for application to person (A2P) SMS is expected to have a fragmented market landscape in terms of competition. The leading players in the global market only accounted for 0.9% of overall market share in the year 2015. Some of the key players in the global market for application to person SMS include names such as AMD Telecom SA, Syniverse Technologies LLC, Silverstreet BV, Fortytwo Telecom AB, and Mblox Inc. among others. The high extent of competition in the market can be attributed to little differentiation in product and strong existence of numerous players across the globe. The market is expected experience an intense competition over the coming years of forecast because of the consistent emergence of new companies in the market as it does not require high investment of capital. However, the vendors have a huge scope to make profits as the adoption of smartphones across the world is growing at a tremendous pace.
The global A2P SMS market stood at an overall market valuation of US$57.27 bn in the year 2015. This market valuation is estimated to grow and touch a figure worth US$83.03 bn over the course of the given forecast period of 2016 to 2024. Over the same period of forecast, the global market for application to person SMS is expected to show a steady CAGR of 4.2% guiding the growth of the market. The application segment of customer relationship management services is expected to shoot up at an impressive CAGR of 33.7% over the given forecast period. From a regional standpoint, the global market for A2P SMS is expected to be led and dominated by Asia Pacific.
Expanding Mobile Subscriber Base to Augment Growth of Global A2P SMS Market
A2P SMS, as a fairly innovative technology, has been gaining increasing popularity because of several reasons. The rising affordability of smart devices such as phones and tablets backed by increasing power of spending can be termed as the chief driving factors for the overall growth of the market. In addition to this, ever growing market of e-commerce and the exceptional penetration of high speed internet connections have also contributed significantly in driving the growth of the global market. Furthermore, the growing trend of payments through cell phones, uptake of mobile health services, and mobile banking have helped in augmenting the growth of the global application to person SMS market. The expanding base of mobile subscribers and the high adoption of new methods of mass communication are also expected to help in propelling the overall development of the global A2P SMS market over the coming years of forecast.
Illegal Servers and Spamming Messages to Pose Problems for Global Market
In spite of being projected of a bright future of the global application to person SMS market, there are some factors that may slow down its growth rate. Technical glitches, malware threats, and high occurrence of spam messages are expected to pose some problems in front of the global market and may stop it from reaching its full potential. Moreover, illegal servers are also projected to act as big restraining factor for the growth of the market.
Company Name: Transparency Market Research
Contact Person: Mr. Rohit Bhisey
Country: United States