A2P Messaging Market Overview:
A2P Messaging Market Share was valued at USD 65.5 billion in 2021. The A2P messaging market industry is projected to grow from USD 68.0 Billion in 2022 to USD 88.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2022 - 2030). Due to the high use of short messaging services (SMS) among enterprises and the low cost and universal reach of A2P messaging, the market is expected to grow significantly. Furthermore, a high emphasis on customer acquisition and engagement is expected to boost the A2P messaging market.
Global A2P Messaging Market is expected to witness favorable growth during the forecast period. Factors such as the increase in the mobile subscriber base and rising demand for A2P messaging platform in the enterprise sector is expected to drive the market during the forecast period. The implementation of A2P messaging in business strategies is also expected to boost the growth of the market. However, a lack of infrastructure is likely to restrain the growth of the global market
Competitive Analysis:
The key players of the global A2P messaging market include Bharti Airtel Limited (India), China Unicom (Hong Kong) Limited, Tata Communications Limited (India), Sap Se (Germany), Orange Business Services (France), Vodafone Group Plc. (UK), Monty Mobile (UK), ARPUPLUS (Giza), Clickatell(US), Giga Waves (UAE), SMSGLOBAL (Australia), Zen Interactive Technologies (UAE), Global Message Services (Switzerland), Infobip Ltd.(UK), and MGAGE (US).
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Segmental Analysis:
Global A2P Messaging Market has been segmented based on Service Type, Vertical, and Region.
Based on service type, the A2P messaging market has been segmented into transactional services, promotional services, and interactive services. These types of A2P messaging services are used for effectively making people aware of various products and services offered by the company. The promotional service segment accounted for the largest market value in 2019, with a market value of USD 23,231.9 million; it is expected to register a CAGR of 3.6% during the forecast period. The transactional service segment was the second-largest market in 2019, valued at USD 12,795.3 million; it is projected to register the highest CAGR of 5.2%. Transactional messaging refers to messaging related to transactions such as OTP, bank, or any other non-promotional information sent to the registered users.
The transactional messaging segment is further divided into unstructured supplementary service data (USSD), one time password (OTP) interactive services, and two factor authentication (2FA). Unstructured supplementary service data (USSD) allows users (end customers) without smartphones or data/internet connections to use various services. A messaging OTP is a secure authorization method where a numeric or alphanumeric code is sent to a mobile number. Two-factor authentication with OTPs delivered via messaging makes user authentication secure and simplifies number verification. Promotional messaging segment refers to messaging, which is sent to promote or advertise the company’s brand to customers that might or might not be registered in the company’s database.
The promotional messaging segment is divided into promotional campaign services, pushed content services, and inquiry and search services. A promotional campaign is a series of advertisements developed by organizations to deliver a certain message and therefore promote a business, product, or event. Pushed content services related to education, creating social awareness, and taxation, among others. Inquiry and Search Services is used by almost all organizations working across various industry verticals. Interactive services include rich communication services. Rich communication services (RCS) are a GSMA standard messaging protocol that provides a deeper level of engagement compared to messaging
By vertical, the global A2P messaging market is segmented into BFSI, media & entertainment, healthcare, education & research, retail & e-commerce, government, utilities & logistics, IT & telecommunications, and others. The BFSI segment held the largest market share in 2019, with a market value of USD 10,329.0 million; it is expected to register a CAGR of 4.1% during the forecast period. The retail & e-commerce segment was the second-largest market in 2019, valued at USD 9,337.0 million; it is projected to register a 3.4% CAGR. However, the government segment is expected to register the highest CAGR of 5.8%. The BFSI sector uses A2P messaging services to provide continuous banking services to its customer base. BFSI has emerged as one of the most promising revenue opportunities for the A2P messaging service providers. Media & entertainment include various publishing houses, channels, production companies that use various A2P messaging services, including transactional, interactive, and promotional.
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The healthcare segment includes hospitals, pharmaceutical companies, nursing homes, and clinics, among others. A2P messaging provides patients with a reminder service when their prescription is ready to be collected. Education & research include schools, universities, research institutes, and colleges. These institutions use A2P messaging services to recruit students, send status updates to applicants, and admission confirmations to students. Retail and e-commerce include online and brick and mortar large grocery stores, apparel stores, electronic stores, and cosmetic stores. Retail chains and e-commerce firms use A2P messaging to promote their seasonal offers on products, communicate about the availability of new stocks in the stores, alerts about new services, and discount offers, among others. Governments use A2P messaging services to create awareness about various programs. A2P messaging services are used by enterprises operating in the utility & logistics sector to send alerts to their clients regarding the status of services and promote various new services. IT & telecommunication companies have been strategically using A2P messaging services to promote their schemes and services to grow their customer base. The others application segment includes manufacturing, chemicals, agriculture, construction, and real estate, among other applications
Regional Analysis:
The A2P messaging market, in terms of region, is dominated by Asia-Pacific. The number of digital payment transactions is growing exponentially in the country and, hence, the use of OTP, 2FA, and single-factor authentication messages is very high in the country. Thus, China currently has the largest market share in the Asia-Pacific A2P messaging market and is expected to dominate the region throughout the study period
The North American A2P messaging market is divided into the US, Canada, and Mexico. A2P messaging has helped brands in the region digitally improve their brand image by sending notifications, alerts, advertisements, and other promotional activities to customers. The North American A2P messaging market is expected to be valued at USD 9,138.7 million by 2026
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