The global A2P Messaging Market size to grow from USD 68.3 billion in 2023 to USD 78.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period, according to research report by MarketsandMarkets™
The A2P messaging services are used in various applications, such as, promotional campaigns by enterprises in order to promote events, brands, and other activities. Promotional and Marketing services, which include messaging-enabled services that can be availed by users by feeding in certain information, is also gaining traction in the emerging regions, such as Asia Pacific and Middle East and Africa, owing to the growing customer base of mobile phones. The major end-users of the A2P Messaging market include banking and financial institutions, gaming, retail & e-commerce, hyperlocal businesses and healthcare. A2P messaging services are also used for applications, such as mass voting for contests, announcements, charity and other such uses, which necessitate establishing a wide communication channel between the sender and the receiver.
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Factors contributing to the high growth rate in these regions are growing number of mobile subscribers, increasing number of advertising and marketing companies, and growing use of A2P messaging among major industries. These factors are also expected to shape the future of the global A2P messaging market. However, the market also faces several challenges, including the increasing competition from global OTT vendors, and SMS fraudulent activities, such as SMS phishing, and SMS spamming.
Among vertical, the BFSI segment is expected to dominate the market during the forecast period
Based on vertical, the BFSI segment of the A2P messaging market is projectedto hold a larger market size during the forecast period. The BFSI vertical is witnessing a rise in the adoption of A2P messaging due to several driving factors. These factors include the need for effective customer engagement, heightened security measures, payment notifications and reminders, transactional updates, marketing opportunities, and the convenience and accessibility provided by A2P messaging. Financial institutions are leveraging this communication channel to enhance customer experience, improve security, streamline transactions, and strengthen their overall service offerings.
By deployment mode, on-premises segment to record a higher growth rate during the forecast period
By deployment mode, on-premises segment is expected to record a higher growth rate during the forecast period. The on-premises segment and deployment mode is adopted by players who can install the platform at their own end without taking the service from a cloud service provider. The need for enhanced data security and compliance adherence, the desire for customization and flexibility, the requirement for optimal performance and reduced latency, the presence of regulatory and compliance restrictions, concerns regarding privacy and data control, and the necessity for seamless integration with existing legacy systems will drive the market.
Asia Pacific to record the highest growth during the forecast period
The APAC A2P messaging market is estimated to have strong growth in the future. These drivers include the widespread adoption of mobile devices, particularly high mobile penetration rates in the region. Additionally, the flourishing e-commerce market, with a growing number of online consumers, has led to increased demand for A2P messaging services for order confirmations, delivery updates, and transactional notifications The adoption of mobile banking and mobile payment solutions, along with government initiatives leveraging mobile technology for citizen services, have further accelerated the demand for A2P messaging.
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Market Players
Major vendors in the A2P messaging market include AT&T(US) ,Sinch(Sweden), China Mobile (China), Infobip(UK), Orange (France), Route Mobile (India), Comviva (India), Twilio(US), BICS (Belgium), Monty Mobile (UK), Syniverse (US), Global Message Services (Switzerland), Tyntec(UK), Silverstreet (Singapore),Vonage (US), Genesys (US), TATA Communications(India),Cequens (Egypt),Mitto(Switzerland),ClearSky Technologies (US), Sify Technologies (India), MSG91 (India), Textlocal (UK), Clickatell (US), Kaleyra (Italy), MessageBird (The Netherlands) TeleWhale (Cyprus).
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