Rising Demand Enterprise A2P SMS Market Drives the Global Market
The global Enterprise A2P SMS Market is estimated to be valued at US$ 28,974.7 Mn in 2018 and is expected to grow at a CAGR of 6.0% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
The Enterprise A2P SMS market refers to the use of SMS messaging services by businesses for communication with their customers, employees, and stakeholders. This market is driven by the increasing demand for quick and efficient communication methods, as well as the advantages offered by A2P SMS, such as high reliability and global reach.
Market key trends:
One key trend in the Enterprise A2P SMS market is the rising demand for automated customer engagement. With businesses looking to enhance their customer satisfaction levels, they are increasingly adopting A2P SMS services to send automated messages such as transactional notifications, appointment reminders, and promotional offers. These automated messages help businesses to efficiently engage with their customers, improve communication, and enhance the overall customer experience. This trend is further fueled by the advancements in artificial intelligence and chatbot technologies, enabling businesses to personalize and automate their messaging services.
Note: No information about key players is provided in the given data.
The enterprise A2P SMS market can be segmented based on application and end-user industry. In terms of application, the market can be divided into customer relationship management services, promotional campaigns, inquiry & search-related services, push content services, and interactive services. Among these, the customer relationship management services segment is expected to dominate the market. This can be attributed to the increasing focus of businesses on enhancing customer relationships and improving customer satisfaction. Enterprises are utilizing A2P SMS services to send personalized messages to customers, providing them with updates, offers, and promotions. Additionally, A2P SMS is also being used for two-factor authentication, ensuring secure transactions and protecting customer information.
The global Enterprise A2P SMS Market Insights is expected to witness high growth, exhibiting a CAGR of 6.0% over the forecast period, due to increasing adoption of mobile marketing strategies by businesses worldwide. A2P SMS allows organizations to reach a large audience instantly, making it a preferred choice for promotional campaigns and customer engagement. Furthermore, the growing number of mobile phone users, coupled with the rising penetration of smartphones, is driving the demand for A2P SMS services.
From a regional perspective, North America is expected to be the fastest-growing and dominating region in the enterprise A2P SMS market. This can be attributed to the high adoption of mobile technology, the presence of established A2P SMS service providers, and the increasing need for effective customer communication in this region. The Asia Pacific region is also anticipated to witness significant growth, driven by the rapid digitalization in emerging economies like China and India.
Key players operating in the enterprise A2P SMS market include Infobip Limited, OpenMarket Inc., AMD Telecom S.A., Syniverse Holdings Inc., FortyTwo Telecom AB, Twilio Inc., Mblox Inc., Nexmo Inc., and CLX Communications AB. These companies offer a wide range of A2P SMS solutions and services, catering to the diverse needs of businesses across various industries. Strategic partnerships, product launches, and technological advancements are the key strategies adopted by these players to maintain their market position and gain a competitive edge.