The Switzerland BFSI A2P SMS market is highly competitive in nature, thanks to the presence of a large number of players operating in it, states a research study by Transparency Market Research. Some of the leading players in the market are GMS, Silverstreet B.V., Infobip Ltd., mBlox, Inc., FORTYTWO Group Ltd., Syniverse Technologies, LLC, Beepsend AB, AMD Telecom S.A., Symsoft AB, Ogangi Corporation, and Dialogue Communications Ltd. These players are anticipated to focus on the development of new products in order to attract a large volume of consumers across Switzerland. The rising number of mergers and acquisitions is expected to encourage the growth of the BFSI A2P SMS in Switzerland throughout the forecast period. In addition, the development of innovative applications is estimated to generate promising growth opportunities for key players in the market.
According to the research study by Transparency Market Research, the BFSI A2P SMS market in Switzerland is anticipated to reach a value of US$262.5 mn by the end of 2023. The market is likely to register a progressive 8.0% CAGR between 2015 and 2023.
Customer Relationship Management to Remain Dominant in Near Future
On the basis of regional segmentation, the Switzerland market is estimated to witness a substantial growth in the coming few years. A significant rise in the development of economy is one of the key factors expected to fuel the growth of the overall market in the next few years. In addition, the technological developments and the increasing penetration of mobile across Switzerland are projected to accelerate the growth of the overall market throughout the forecast period.
In terms of application, the Switzerland market for BFSI A2P SMS has been classified into promotional campaigns, inquiry related services, pushed content services, interactive services, customer relationship management, and others. Among these, the customer relationship management segment led the overall market in the last few years. As per the research study, this segment is expected to remain in the leading position across the forecast period and hold a key share of the market. Furthermore, the promotional campaigns segment is likely to witness a substantial growth throughout the forecast period.
Emergence of New Applications to Encourage Market Growth
The robust development of the banking sector is one of the key factors anticipated to encourage the growth of the Switzerland BFSI A2P SMS market in the next few years. The increasing use of smartphone for banking transactions is another key factor projected to accelerate the growth of the overall market throughout the forecast period. Some of the key applications of A2P SMS in the BFSI sector are money transfer, banking transactions, bill payments, and one time password (OTP).
Furthermore, the expansion of the application base is estimated to supplement the growth of the market in the near future. In addition, the emergence of new and innovative applications for easy transactions is predicted to accelerate the growth of the market in the next few years.
Rising Number of Mobile Subscriptions to Bolster Switzerland BFSI A2P SMS Market
The Switzerland market for BFSI industry A2P SMS, on the other hand, is anticipated to face several challenges throughout the forecast period, which is likely to restrict the growth of the market in the near future. However, the rising number of mobile subscriptions and the decreasing unemployment rate are projected to generate promising opportunities for the leading players operating in the BFSI A2P SMS market in Switzerland in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “BFSI A2P SMS Market (Application - Pushed Content Services, Customer Relationship Management (CRM), Promotional Campaigns, Interactive Services, and Inquiry Related Services) - Switzerland Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The Switzerland A2P SMS market for BFSI industry has been segmented as below:
Switzerland A2P SMS market for BFSI industry, by Application
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