Pune, India, March 11, 2021 (GLOBE NEWSWIRE) -- The global enterprise A2P SMS market size is projected to reach USD 64.24 billion by 2028, exhibiting a CAGR of 4.6% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Enterprise A2P SMS Market, 2021-2028”. As per the report, the value of the market stood at USD 44.96 billion in 2020.
With the rising adoption of digital marketing solutions, the era of notifications, transactions, and alerts is upon us. Enterprises across the world are aiming to deliver quality information regarding their product to potential customers. And they are planning to do it through a medium that is more convenient to them as well as their customers. Enterprise A2P SMS is helping companies to build strong customer relations and loyalty. This software allows enterprises to improve communication, boost customer interaction, and understanding.
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In addition, the emergence of the COVID-19 pandemic has compelled more companies to go online. This has set a path for the increasing requirement of efficient communication and customer engagement services. Hence the demand for enterprise A2P SMS has been high during the pandemic. For instance, in March 2020, Twilio, an A2P messaging service provider, reported a 90% rise in demand for services from the healthcare industry due to the COVID-19 pandemic.
Market Segmentation:
We have categorized the market on the basis of development, application, end user, and geography. In terms of development, the market is divided into on-premises and cloud. Based on application, it is fragmented into pushed content services, customer relationship management services, promotion and marketing, interactive services, and others. Based on end users, it is divided into BFSI, retail and e-commerce, travel and hospitality, healthcare, media and entertainment, and others. Lastly, on the basis of geography, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
What Does the Report Offer?
The report provides a detailed analysis of the key market aspects, namely, the dominant companies, end-users, and leading product types. Apart from this, the report contains tangible insights into the current & upcoming market trends and highlights prominent industry developments. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.
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Drivers and Restraints
Clutter-free High Reachability to Drive Growth
Email marketing has lost its effectiveness in recent years thanks to the overuse of the medium for product-related information by several companies. The customers’ inboxes are flooded with offer-related mails, owing to which, it has become very difficult to find important messages. This also results in a low opening rate. Compared to this, SMSs or text messages have much higher reachability. For instance, as per Gartner, text messages report a 45% response rate and a 98% open rate compared to email. This is expected to drive the global enterprise A2P SMS market growth.
In addition, the cost associated with the A2P SMS service is lower compared to other mediums, making it highly popular among small enterprises and start-ups. This will further strengthen the demand for enterprise A2P SMS services. However, the prevailing concerns about security threats in the industry, especially the grey route, are projected to restrain the growth of this global market.
Regional Insights
Asia Pacific to Lead Backed by the Rising Population of Internet Subscribers
Asia Pacific is anticipated to dominate the enterprise A2P SMS market share during the forecast period. The market value in this region stood at USD 14.07 billion in 2020. The rising population of internet subscribers and increasing usage of smartphones is estimated to boost the adoption of enterprise A2P SMS service in the region. In addition, the large population in India and China comprises a huge customer base of numerous enterprises, which is projected to further enhance market growth.
The market in Europe is set to showcase rising growth during the projected timeline. Leading industries, such as BFSI, healthcare, retail, and e-commerce, are actively utilizing the A2P messaging solutions in order to manage their customer base. In addition, the newly commenced businesses are using the service to increase brand awareness. This is predicted to propel the demand in the region.
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Competitive Landscape
Collaboration with Industry Leaders to Aid Key Players Serve More Industries
Key players operating in the global enterprise A2P SMS market are focusing on collaboration strategies with other industry leaders in order to serve more industries. For instance, in January 2021, Mitto announced a partnership agreement with all four mobile network operators in Tajikistan for A2P SMS. This will help the company offer reliable A2P messages for industries, such as logistics, commerce, and entertainment, thereby enhancing their customer engagement.
Industry Developments:
- November 2020 – Infobip Ltd. announced the agreement with Amdocs Inc. to acquire OpenMarket Inc. The acquisition is expected to strengthen Infobip presence outside the US.
- June 2019 – Tyntec Group Limited announced a partnership with Ooredoo Global Services to offer Global A2P messaging services. The first roll-out under the partnership started from Indonesia in the second quarter of 2019.
List of Key Companies Covered in this Market Report:
- SAP SE (Walldorf, Germany)
- Orange Business Services (Paris, France)
- Global Message Services AG (Baar, Switzerland.)
- Infobip Ltd (London, United Kingdom)
- Smsglobal (New York, United States)
- NTT Communications Corporation (Tokyo, Japan)
- Tata Communications Limited (Mumbai, India)
- China Unicom (Hong Kong)
- Tyntec Group Limited (London, United Kingdom)
- Twilio Inc. (California, United States)
- Mitto (Switzerland.)
- Vodafone Group Plc (Berkshire, United Kingdom)
- Genesys Telecommunications (California, United States)
- Zen Interactive Technologies (Dubai)
- AMD Telecom S.A (Switzerland)
- CLX Communications AB (Sweden)
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Enterprise A2P SMS Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
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