A2P SMS Market is expected to display a steady growth of 5% due to the rise in research & development activities for developing neurotherapeutics | UnivDatos Market Insights
NOIDA, India, March 17, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the A2P SMS Market was valued at more than USD 58 billion in 2021 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Application (Customer Relationship Management Services, Inquiry-Related Services, Interactive Services, Promotional Campaigns, and Pushed Content Services); Deployment (On-Premises and Cloud); SMS Traffic (National and International); Industry Vertical (BFSI, healthcare, Media & Entertainment, Retail & E-Commerce, Travel & Tourism, and Others) Region/Country.
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The A2P SMS market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the A2P SMS market. The A2P SMS market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the A2P SMS market at the global and regional levels.
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Any sort of traffic in which a person is receiving messages from an application is known as A2P messaging. Marketing messages, appointment reminders, chatbots or virtual assistants, notifications, and one-time passwords (OTPs) or PIN numbers are just a few examples of A2P messaging. A2P SMS can be utilized by end users in a variety of technical contexts, such as customer support, activation and authentication processes for online services, and the delivery of time-sensitive warnings, critical warnings, automatic booking confirmations, banking notifications, loyalty programs, marketing notifications, and SMS-based two-factor authentication.
The growing mobile phone penetration coupled with the growing literacy rate is expected to stimulate market growth during the forecast period. Furthermore, the growth of the retail and eCommerce industry is also expected to drive the market during the forecast period. For instance, according to Shopify, the global e-commerce market is expected to reach USD 5.7 trillion in the year 2022.
Some of the major players operating in the market include TWILIO INC, Dialogue Communications Public Relations Indonesia, Infobip ltd, Sinch, Proximus, Tata Communications, AT&T, China Mobile Limited, Genesys, and VONAGE.
During the Covid-19 pandemic, A2P SMS services were proven to be a reliable way of transmitting information related to the spread of the virus to the public. Furthermore, governments around the world were using A2P SMS services to notify citizens about their vaccine dosage to curb the virus resulting in the upsurge of the A2P SMS market during the Covid period. Thus, the A2P SMS market was positively impacted in the year 2020 and 2021.
The global A2P SMS market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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A2P SMS Market Geographical Segmentation Includes:
North America led the A2P SMS market in 2021 with the largest market share. The major factors contributing to the market growth include- a well-established healthcare infrastructure, a rising number of surgeries, and an increasing number of travelers in the region. For instance, U.S. domestic travel increased by 1.7% in 2019 to a total of 2.3 billion person-trips. Also, Leisure travel accounted for 80% of all U.S. domestic travel in 2019. Furthermore, the presence of key industry players in the region and an increasing number of product launches are also some of the factors contributing to the market growth.
The major players targeting the market include
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the A2P SMS market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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