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A2P Messaging Market to Hit $96.73 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Aug. 8, 2022 /PRNewswire/ -- The global A2P messaging market size is anticipated to reach USD 96.73 billion by 2030, registering a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. A2P messaging is the process of sending an automated message from an enterprise or a business application to a subscribed user for advertising, marketing communications, notifications, appointment reminders, chatbots, PIN codes, or One-time Passwords (OTPs).
Key Industry Insights & Findings from the report:
- The market is expected to witness a CAGR of 4.7% over the forecast period owing to a rise in the adoption of smartphones and mobiles globally. Also, growing mobile advertisements & SMS marketing has increased the adoption of A2P messaging among end user during the COVID-19 pandemic.
- Based on the component, the platform segment accounted for the largest revenue share of over 61.92% in 2021 as the A2P messaging platform is extensively used in several verticals such as retail & e-commerce, BFSI, travel & hospitality, and healthcare. Technological advancement in retail marketing, such as Omni channel marketing automation, enables real-time engagement with behavior-based triggers and segments customers based on the collected data.
- The deployment model segment comprises on-premises and cloud. The cloud segment dominated the market in 2021 and is expected to witness a significant CAGR of 5.4% over the forecast period owing to the integrated marketing campaign and highly engaging cloud-based services offered by the key players.
- The customer relationship management (CRM) services segment is expected to dominate the application segment and register a healthy CAGR of 3.6% over the forecast period as several industries are investing highly in customer engagement tools and are focusing on the adoption of A2P messaging. As CRM is the core of business operations, many industries are focusing more on adopting A2P messaging for CRM as these messaging services help to send appointment reminders, purchase confirmation, follow-up surveys, and other tasks.
- Based on vertical, the market is segmented into BFSI, healthcare, media & entertainment, retail & E-commerce, travel & tourism, and others. BFSI industry vertical dominated the A2P messaging market owing to increasing payment transactions and online services in the BFSI industry.
- Asia Pacific dominated the market in 2021 and accounted for the largest revenue share of 42.23%, owing to the extensive adoption of smartphones and growing internet subscribers across the APAC region. Enterprises operating in this region are increasingly adopting A2P messaging to increase brand recognition and positively impact the growth.
Read 120-page full market research report, "A2P Messaging Market Size, Share & Trends Analysis Report By Component (Platform, Service), By Deployment Mode, By Enterprise Size, By SMS Traffic, By Application, By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
A2P Messaging Market Growth & Trends
The A2P messaging solution allows enterprises to manage bulk messaging services instantly by leveraging quality mobile communications routes across the globe. The increasing number of mobile subscribers and rising use of messaging services in several industries are the factors fueling the growth of the industry. The A2P messaging services offer a centralized tool to manage messaging services worldwide without setting up agreements with all the destination operators. A2P messaging builds better clint relations and ensures better connectivity and expansion of sales. In addition, a growing emphasis on customer acquisition and engagement is further anticipated to boost the market growth.
Also, several regulations of the communications practices of A2P messaging vary at regional or country levels. For instance, the A2P messaging must comply with the FCC Telephone Consumer Protection Act (TCPA) rules that are subject to certain conditions. The FCC rules are there to provide protection against over-messaging and match message content, such as the importance of the message and timeliness, with the broadcast channel.
The report covers the competitive analysis of the top ten market players, including TWILIO INC., Dialogue Communications, Infobip ltd., Sinch, Proximus, Tata Communications, AT&T, China Mobile Limited, Orange, and Genesys. The market players are adopting several key strategies and development such as product launches, partnerships and collaborations, and mergers and acquisitions to obtain a significant market share. For instance, Microsoft announced the acquisition of Xandr from AT&T in December 2021. The acquisition will accelerate the delivery of digital marketing, advertising, and retail media solutions for the open web.
A2P Messaging Market Segmentation
Grand View Research has segmented the global A2P messaging market based on component, deployment mode, enterprise size, SMS traffic, application, industry vertical, and region:
A2P Messaging Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)
A2P Messaging Market - Deployment Mode Outlook (Revenue, USD Billion, 2017 - 2030)
A2P Messaging Market - Enterprise Size Outlook (Revenue, USD Billion; 2017 – 2030)
- Large Enterprises
- Small & Medium Enterprises
A2P Messaging Market - SMS Traffic Outlook (Revenue, USD Billion, 2017 - 2030)
A2P Messaging Market - Application Outlook (Revenue, USD Billion, 2017 - 2030)
- Customer Relationship Management (CRM) Services
- Interactive Messaging Services
- Promotional Campaigns
- Pushed Content Services
- Others
A2P Messaging Market - Vertical Outlook (Revenue, USD Billion, 2017 - 2030)
- BFSI
- Healthcare
- Media & Entertainment
- Retail & E-commerce
- Travel & Tourism
- Others
A2P Messaging Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa (MEA)
List of Key Players in the A2P Messaging Market
- TWILIO INC.
- Dialogue Communications
- Infobip Ltd.
- Sinch
- Proximus
- Tata Communications
- AT&T
- Chain Mobile Limited
- Orange
- Genesys
Check out more related studies published by Grand View Research:
- Telecom API Market - The global telecom API market size is anticipated to reach USD 827.45 billion by 2030, expanding at a CAGR of 20.6% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. Growing demand for smartphones integrated with features such as 5G, digital wallets, GPS services, and near-field communication (NFC), among others, is projected to drive the market growth over the forecast period. API facilitates web-based solution developers to develop applications through a single point of contact utilizing the capabilities offered by the API platform for agile application development.
- Rich Communication Services Market - The global rich communication services market size is estimated to reach USD 35.7 billion by 2027, expanding at a CAGR of 35.4% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Rich communication services (RCS) platforms overcome the limitations of SMS and provide additional services such as high-quality image sharing, chat rooms, and read receipt. Adoption of such mobile services by various businesses to enhance customer experience is anticipated to drive the market for rich communication services during the forecast period.
- Web Real-Time Communication Market - The global web real-time communication market size is estimated to reach USD 40.6 billion by 2027 growing at a CAGR of 43.4% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Web real-time communication (WebRTC) enables real-time communication capabilities over browsers without having the need to install additional plugins. It supports browser-to-browser applications for video chat, voice calling, messaging, and file sharing. Amid the spread of COVID-19, several organizations have adopted work-from-home policies. There is a need to maintain operational efficiency while working from home, and online communication has become an essential tool for all organizations. The increasing demand for online communication is expected to drive the market in the near future.
Browse through Grand View Research's Communication Services Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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