MarketsandMarkets forecasts the global A2P Messaging Market size to grow from USD 62.1 billion in 2020 to USD 72.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period. A2P messaging is the powerful medium for businesses or enterprises in the communication market space to connect with mobile consumers. Businesses use text messaging to notify the users about updates for improving the user experience, which results in revenue growth of the company. SMS help in generating leads, increasing sales, and building better customer relationships across a wide range of industries, such as entertainment, BFSI, retail & ecommerce, travel & tourism, marketing, media & entertainment, and healthcare.
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Factors contributing to the high growth rate in these regions are growing number of mobile subscribers, increasing number of advertising and marketing companies, and growing use of A2P messaging among major industries. These factors are also expected to shape the future of the global A2P messaging market. However, the market also faces several challenges, including the increasing competition from global OTT vendors, and SMS fraudulent activities, such as SMS phishing, and SMS spamming.
Among vertical, the BFSI segment is expected to dominate the market during the forecast period
Based on vertical, the BFSI segment of the A2P messaging market is projected to hold a larger market size during the forecast period. Increasing subscriber base brings an opportunity for the BFSI industry to engage with their consumers. A2P messaging solution helps them to connect and build a robust connection with customers, from announcing transaction details, and consumer activities, related to retail banking and for and assisting consumers with their needs. Due to constant growth in the number of internet users and the proliferation of smartphones, tech-savvy consumers expect quick service. A2P messaging is witnessing huge growth in BFSI sector.
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The key and emerging market players in the A2P Messaging market include AT&T(US) ,Sinch(Sweden), Infobip(UK), China Mobile (China), Orange (France), Route Mobile (India), Comviva (India), Twilio(US), BICS (Belgium), Monty Mobile (UK), Syniverse (US), Global Message Services (Switzerland), Tyntec(UK), Silverstreet (Singapore),Vonage (US), Genesys (US), TATA Communications(India),Cequens (Egypt),Mitto(Switzerland),ClearSky Technologies (US), Sify Technologies (India), MSG91 (India), Textlocal (UK), Clickatell (US), Kaleyra (Italy), MessageBird (The Netherlands) .These players have adopted various strategies to grow in the global A2P Messaging market.
AT&T provides global smart messaging suite for enterprises across the globe. This solution mainly caters to financial services, retail, and government. This suite enables businesses to integrate their existing solutions with powerful messaging APIs and send messages to destinations around the world. The company also offers business messaging that enables businesses to send notifications to groups as large as 20,000 recipients. AT&T RCS portfolio includes advanced messaging, a next-generation messaging service, which enables an individual to send high-resolution photos and larger video files, up to 10MB, per attachment. This service is only available on select smartphones and may not be compatible with certain rate plans.
Sinch offers new and creative ways to use A2P messaging to connect and engage. In A2P and P2A messaging marketspace, the company offers SMS API that enables one-way and two-way SMS, helps its customers’ send bulk business SMS in a snap. The company’s CPaaS platforms combine A2P messaging with an array of other communication channels that include voice, RCS, video calling, and AI-based services, such as chatbots. It also offers A2P monetization service providing full management and control of terminating A2P traffic in enterprise’s network. Sinch also offers RCS, which is the next generation of A2P messaging, thus enabling a richer conversational communication channel between brands and consumers. In addition, it offers managed and professional services for mobile operators. The company serves over 170 million subscribers in more than 40 countries. Sinch has regional offices in the Americas, Europe, APAC, and MEA.
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