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A2P Messaging Market 2024 - Trend Analysis, Industry Growth, Key Players, Growth Opportunities And Outlook By 2033
A2P Messaging Market
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According to The Business Research Company's, The A2P messaging market size has grown steadily in recent years. It will grow from $69.96 billion in 2023 to $72.68 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to internet penetration, rise in smartphone usage, business communication evolution, SMS integration in services, security and authentication needs.
The A2P messaging market size is expected to see strong growth in the next few years. It will grow to $88.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to IoT communication, banking and financial services usage, healthcare and appointment reminders, adoption of chatbots and AI, industry-specific integration. Major trends in the forecast period include compliance with regulatory standards, interactive messaging experiences, vertical-specific messaging solutions, API integration and platform diversification, omnichannel messaging strategies.
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Market Drivers and Trends:
Increasing penetration of smartphones is expected to propel the growth of the A2P messaging market going forward. A smartphone refers to a portable electronic device that connects to the internet and cellular networks. A2P messaging helps smartphone users receive messages from a business application for marketing or customer service purposes, mainly via an automated procedure. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Therefore, the increasing penetration of smartphones is driving the growth of the A2P messaging market.
Technology advancement is a key trend gaining popularity in the A2P Messaging market. Major companies operating in the A2P messaging market are focused on developing new technological solutions to strengthen their position. For instance, in July 2021, Dotgo, a US-based company operating in A2P messaging, launched the RichSMS service, built on RichSMS technology, which enables SMS messages to be delivered over RCS without requiring any software changes and increases customer loyalty by providing greater security, trust, and branding for business-to-consumer communication. The unique features of RichSMS include that its users receive a similar message along with the company logo and verified trust mark on their RCS-capable phones. It provides increased customer experience, branding, and security.
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Major Key Players of the Market:
China Mobile Limited, AT&T Inc., Orange S.A., Twilio Inc., Sinch AB, Tata Communications Limited, Genesys Telecommunications Laboratories Inc., Syniverse Technologies LLC, Infobip Ltd., MessageBird B.V., BICS SA/NV, Vonage Holdings Corp., Kaleyra Inc., Monty Mobile SAL, TeleSign Corporation, OpenMarket Inc., Comviva Technologies Limited, Route Mobile Limited, Karix Technologies Private Limited, Cequens Ltd., Plivo Inc., Mitto AG, Soprano Design Pty Ltd, Global Message Services S.A., Clickatell (Pty) Ltd., Nexmo Inc. (Vonage API Platform), Summit Tech (Summit Technology Group), Tyntec Silverstreet, Dexatel Global Message Services AG, CLX Communications AB, Esendex Ltd., Fortytwo Telecom AB, Upland Software Inc. (Mobile Messaging Solutions), BulkSMS (a division of Adapt IT), Commify Group Limited, 3Cinteractive Corp. (3C), IMImobile PLC (acquired by Cisco), Kaleyra S.p.A. (formerly known as Solutions Infini), Mogreet Inc.
A2P Messaging Market 2024 Key Insights:
• The A2P messaging market size is expected to see strong growth in the next few years. It will grow to $88.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Smartphone Surge Is Propelling A2P Messaging Market Growth Through Increased Penetration
• Innovative Technological Advancements Propel A2P Messaging Market Growth
• North America was the largest region in the A2P messaging market in 2023
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