Premium Messaging Market Global Analysis and Forecast 2017- 2023| Verizon, Mblox, Twilio, AT&T, Tata Communications, Infobip, SAP SE, Dialogue Communications

Premium Messaging Market Report, Added by Premium Market Insights, forecasts that the global market was valued at $54,579 million in 2016, and is projected to reach at $78,349 million by 2023, growing at a CAGR of 5.4% from 2017 to 2023, owing to increase in expenditures on cloud application programming interface (API) messaging platform by enterprises across globally.

Premium messaging is a process of sending mobile messages, such as short message service (SMS) and multimedia messaging service (MMS) from an application to a mobile user. It includes application to person messaging (A2P) typically used for alerts, notifications, and marketing messages; and person to application messaging (P2A) commonly used for various SMS lottery campaigns, TV voting campaigns, subscriptions, competitions, and others.

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Rise in mobile subscriber base, focus on enhancing customer interaction and surge in adoption of A2P (two-factor authentication) drive the market, providing lucrative growth opportunities for prominent players operating in the premium messaging market. However, a massive rise in messages being sent through illegitimate routes and an increase in mobile messaging spam are anticipated to hamper the premium messaging market growth during the forecast period.

The cloud application programming interface (API) messaging platform segment is projected to grow at the CAGR of around 72% during the forecast period. This platform is the latest enterprise messaging solutions, which enable end users to integrate SMS into existing code, and allow mobile or web application to trigger automated messages for one-time password deliveries, notifications, and delivery confirmation. Traditional & managed messaging services segment dominated the market in 2016 but is anticipated to witness a significant decrease in its market share, owing to end users shift toward cloud-based messaging platforms.

The banking and financial institutions segment dominated the market in 2016, followed by the retail sector. Further, these segments collectively accounted for around 52% share of the overall market revenue in 2016, owing to increase in need for two-factor authentication messaging services and rise in popularity of premium messaging services for sales, marketing, and promotions. Moreover, the market in the healthcare sector is anticipated to grow at the second highest CAGR of around 5.7%.

Geographically, the premium messaging market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among regions, the market in LAMEA is projected to grow at the highest CAGR during the forecast period owing increase in the number of mobile device subscribers and rise in adoption of premium messaging services, especially for sales, marketing, and promotions in the region.

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The global premium messaging market is characterized by the presence of international market players. These companies tend to expand their market presence by adopting strategies, such as strategic alliance and acquisitions. Some of the key players operating in the premium messaging industry include Verizon, Mblox, Twilio, Inc., AT&T, Beepsend, CLX Communications, Dialogue Communications Ltd., Infobip Ltd., Mahindra Comviva, and Tata Communications Ltd.

Key Findings of the Premium Messaging Market:

The cloud API messaging platform segment is expected to grow at the highest CAGR during the forecast period.

The banking and financial institutions segment dominated the market in 2016.

Asia-Pacific was the highest contributor in the overall premium messaging market size in 2016 however in terms of growth, the market in LAMEA is estimated to grow at the highest CAGR.

The U.S. led in terms of spending on premium messaging services in 2016.

KEY MARKET SEGMENTS

The premium messaging market is segmented based on tools, end user, and geography.

BY TOOLS
Cloud API messaging platform
Traditional and managed messaging services

BY END USER
Banking and financial institutions
Transport and traveling
Healthcare
Media and entertainment
Retail
Others (government, educational institutions, manufacturing, energy & utility sectors)

KEY BENEFITS FOR STAKEHOLDERS

The study provides an in-depth analysis of the premium messaging industry along with current and future trends to elucidate the imminent investment pockets.

Information regarding key drivers, restraints, and opportunities along with their impact analysis on the premium messaging market is provided in the report.

Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the premium messaging industry.

The quantitative analysis of the global market from 2017 to 2023 is provided in the report to determine the premium messaging market size and potential.

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Contact Info:
Name: Sameer Joshi
Organization: Premium Market Insights
Email: sales@premiummarketinsights.com
Phone: +1-646-491-9876

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This release was published on openPR.