A2P SMS and CPaaS Market By Business Top Key Players, Growth, Trend, Segmentation, Revenue and Industry Expansion Forecast Report, The Insight Partners

According to our latest market study on "A2P SMS and CPaaS Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Deployment (On-Premise and Cloud) and Application (Automotive, Mining, Construction, Agriculture, and Others )" the market was valued at US$ 6,981.67 million in 2019 and is projected to reach US$ 10,028.30 million by 2027; it is expected to grow at a CAGR of 6.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

The increasing demand for enhanced functionalities of multi-channel-based marketing and customer engagement and the increasing usage of analytics and mobility for customer communications platforms are the key factors attributable to the A2P SMS and CPaaS market growth. Integrating cloud-based customer communications platforms is emerging as a potential opportunity for the A2P SMS and CPaaS market. Further, the growing adoption of CPaaS for automating and improving customer service and outreach for better consumer experience offers lucrative prospects for the A2P SMS and CPaaS market growth. However, the data synchronizations and complexities in CPaaS and security issues of such integrated platforms hamper the A2P SMS and CPaaS market growth.

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A cloud-based platform called CPaaS integrates audio, video chat, and messaging applications with an organization's business operations. CPaaS is a middleware service that allows businesses to create and deliver real-time communications software implying that agents can operate with one another within the contact center software platform or the CM application. An application program interface (API) provides voice, video, and messaging to business and corporate applications using cloud-based communication services. CPaaS is developed and deployed by organizations that want to integrate customer engagement into communications in their business applications. There is a growing need for readily maintained network systems that enable effective communications across multiple end-user industries such as healthcare, retail, and manufacturing. In addition, healthcare providers who have actively categorized the minimum IT budgets are adopting cost-effective cloud-based solutions.

The Key Players In The Global A2P SMS and CPaaS Market Are:

•8X8 Inc.
•Avaya Inc.
•Cisco Systems
•Intelepeer Cloud Communications
•Messagebird B.V.
•Plivo Inc.
•Twilio Inc.
•Vonage Holdings Corp.
•Voximplant (Zingaya, Inc.)
•Wazo Communication Inc.

The A2P SMS and CPaaS market is segmented into component, channel, enterprise size, industry, and geography. Based on component, the A2P SMS and CPaaS market is bifurcated into solution and services. Based on channel, the A2P SMS and CPaaS market is segmented into message, voice, email, webpush and others. The message segment is further bifurcated into chat apps and SMS. Based on enterprise size, the A2P SMS and CPaaS market is bifurcated into SMEs and large enterprises. Based on industry, the market is segmented into IT & telecom, BFSI, retail & e-commerce, healthcare, and others. Based on geography, the A2P SMS and CPaaS market is segmented into North America (US, Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia Pacific (Australia, Japan, South Korea, India, China, Pakistan, and Rest of APAC), MEA (Saudi Arabia, UAE, South Africa, Turkey, Egypt, and Rest of MEA), and SAM (Brazil, Argentina, and Rest of SAM).

Impact of COVID-19 Pandemic on A2P SMS and CPaaS Market

The COVID-19 outbreak had an adverse impact on the world economy during its peak in 2020, and the crisis significantly impacted the semiconductor & IT industries. Before the onset of the COVID-19 pandemic, the A2P SMS and CPaaS market was experiencing substantial growth due to the rising demand from manufacturing industries and growing usage of home appliances; however, the outbreak led to a notable slowdown in the production activities of these industries. During the COVID-19 pandemic, an abrupt increase in internet traffic was witnessed owing to a few factors, such as increased online shopping, availability of different payment portals, search for hospital availability, and small businesses. These factors have accelerated the organizations to incorporate CPaaS, which increases communication efficiency and helps find better ways to engage customers. With the soaring demand for personalized services with agility, CPaaS will continue to receive impetus in the upcoming years. Furthermore, the emergence of the pandemic has augmented the deployments and investment in cloud-based solutions for CPaaS. Investment in CPaaS by the majority of companies for customer engagement and the integration of AI and cloud-based platforms have fueled the adoption at a faster pace during the pandemic. For instance in May 2020, Virgin Media Business And 8x8 Sign Strategic Partnership To Accelerate Cloud Communications Adoption Across The UK. Similarly in January 2021, Tanla ties up with Microsoft to launch blockchain-enabled CPaaS platform.

The Segments and Sub-Section of A2P SMS and CPaaS Market are shown below:

By Component (Solution and Services), Channel [Message (Chat Apps and SMS), Voice, Email, Webpush, and Others]

By Enterprise Size (SMEs and Large Enterprises)

By Industry (IT & Telecom, BFSI, Retail & E-commerce, Healthcare, and Others)

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CPaaS has experienced considerable expansion. Initially, effective message services were the only medium through which communication channel brands would prefer to communicate with their customers. Businesses now require a wider range of assets to maintain value development. RCS Business Messaging, WhatsApp Business Platform, AI-powered chatbots, and A2P messaging are a few of the numerous CPaaS systems that allow businesses to interact with clients across various digital touchpoints. CPaaS has demonstrated that it is the best issue solution during the COVID-19 crisis by assisting businesses in preserving continuity and sustainability. Further, CPaaS has helped various businesses fulfill the increased client demand by enabling firms to add new services and provide a great user experience. While saving money and time, the solution enables firms to respond to changing demands swiftly.

Incorporating CPaaS communication features into a brand's app speeds up and enables the company to interact directly with customers without requiring a significant amount of development and expenditure on other technology. This enables businesses and brands to satisfy their business objectives without incurring the costs associated with establishing, maintaining, and updating separate systems. With automated API scalability, CPaaS can assist businesses in advancing their business intelligence (BI) by providing real-time insights through an intuitive interface.

 The Insight Partners A2P SMS and CPaaS Market Research Report Scenario includes:

The report provides qualitative and quantitative trends of global A2P SMS and CPaaS Market across type, type of products, service, and geography.
The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global A2P SMS and CPaaS Market.
Chapter Three provides the research methodology of the study.
Chapter Four further provides PEST analysis for each region.
Chapter Five highlights the key industry dynamics in the A2P SMS and CPaaS Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
Chapter Six discusses the global A2P SMS and CPaaS Market scenario, in terms of historical market revenues, and forecast till the year 2028.
Chapter Seven to ten discuss A2P SMS and CPaaS Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
Chapter Twelve provides the detailed profiles of the key companies operating in the global A2P SMS and CPaaS Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

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