Banking, E-Commerce, and Advertising Industries to Propel Global A2P SMS Market till 2020
Growing at a CAGR of 4.2% between 2014 and 2020, the global A2P SMS market, which reported a market value worth US$53.07 billion in 2013, is expected to reach a market value worth US$70.32 billion by 2020. The A2P SMS market is mainly driven by an increasing number of mobile subscribers. A2P (Application-to-Person) SMS refers to a kind of SMS service which is generally sent from a web application to a multitude of mobile subscribers.
A2P SMS are used extensively by various kinds of applications like location-based opportunities, polling contests, promotion of brands, transactional messages by industry verticals like retail, entertainment, financial services and insurance, healthcare, tourism, media, updating end-user with campaign perks, and breaking news. The emergence of applications like WhatsApp and Blackberry messenger has led to a significant decline in the volume of P2P (Person-to-Person) SMS. With the aim of achieving cost effectiveness, organizations and businesses generally use A2P SMS to reach out to people of varying demographics and those using different types of handsets.
Customer Relationship Management (CRM) Segment Holds the Highest Share in the Global A2P SMS Market
The global A2P SMS market is segmented on the basis of application and geography. Based on applications, the various segments in the global A2P SMS market are pushed content services, customer relationship management (CRM) services, promotional campaigns, interactive services, and others. The other services included within the application segment are search-related and inquiry-related services. Server-to-User communication activities such as charity donations and voting in contests are the types of applications which make use of interactive services via the SMS platform. The CRM application segment in the overall A2P SMS market holds the highest share in terms of revenue generated.
What are the Factors Driving the Global A2P SMS Market Today?
Customer relationship management services are used for sending transaction-related and billing information to customers. Promotional campaign services help in the promotion of brands or services that are offered by businesses, via SMS. Search and inquiry services refer to SMS-enabled services that are initiated by users to obtain information such as address or the contact details of a retail outlet. A2P SMS facility is also used in applications like appointment reminders, sending one-time passwords for two-level verification, payment confirmations, and notifications of suspicious debit/credit card transactions.
The A2P SMS market is also fueled by other diverse applications like flight updates from travel sites, mobile event ticketing, appointment reminders from providers of healthcare services, and account updates from banks. Industries such as e-commerce, banking, and advertising are witnessing growth traction as a result of global economic growth.
Asia Pacific: Dominant Regional Market in the Global A2P SMS Industry
With a market share of approximately 42%, the global A2P SMS market was led by Asia Pacific in 2013. It is anticipated that the Asia Pacific A2P SMS market will witness robust growth during the forecast period. The A2P SMS market in this region is led by countries such as Malaysia, India, Singapore, China, South Korea, and Japan. The growth of the A2P SMS market in these regions can be attributed to the growth of the e-commerce industry, and also promotion campaigns for marketing of various activities.
Furthermore, there are many multinational companies that are currently focusing on business expansion in regions in the Asia Pacific and Rest of the World. This creates several opportunities for providers of A2P SMS services to enhance brand awareness about the businesses.
The key market leaders in the global A2P market are Syniverse Technologies, LLC, AMD Telecom S.A., Fortytwo Telecom AB, mBlox Inc., Ogangi Corporation, Silverstreet BV, and Tanla Solutions Ltd.
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