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A2P SMS Market - BFSI and E-commerce Industries in Developing Economies Drives Demands
The global A2P SMS market had a revenue valuation of US$62.01 bn in 2017 and is expected to reach US$86.53 bn by 2025, expanding at a 4.2% CAGR from 2017 to 2025. The global A2P SMS market volume stood at approximately 1,717 bn in 2017 and is expected to rise to 2,353 bn by 2025 by, expanding at a CAGR of 4.2% from 2017 to 2025.The global A2P SMS market is driven by factors such as the globally rising number of mobile subscribers, rise in mobile marketing activities by application developers and marketers, and the proliferation of A2P SMS services in mobile banking, mobile health and mobile payments sectors.
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The thriving e-commerce industry, availability of low-cost smart phones along with growing penetration of Internet, and the resultant rise in cloud/web enabled services such as mobile payments and mobile banking are also expected to aid market growth for A2P SMSs during the forecast period.
On the basis of end-use Industry, the market has been classified into banking, financial services and Insurance (BFSI), retail, travel and transport, healthcare and hospitality, and media and entertainment (gaming).
In industries such as transportation and hospitality, A2P SMSs are used for various ticketing applications such as airlines for delivering boarding passes, and payments for transportation services. Many financial services companies use A2P SMSs for services such as making payments, requesting account information and account transfers.
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Mobile network operators provide security for these companies by authorizing the financial service companies to identify their customers using mobile numbers.
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