BFSI A2P SMS Market - Switzerland: Overview
As per Transparency Market Research market study on BFSI A2P SMS Market - Switzerland, a CAGR (Compound Annual Growth Rate) of 8.0% from 2015 to 2023 will be noted, helping the market reach a valuation of USD 262.5 million by the end of the forecast period. The steady growth rate is an outcome of increase in demand in banking for A2P SMS for banking transactions, account balance information dissemination, online security streamlining, bill payment notifications, and even details of money transfers.
Here, it is worth noting that the broader the mobile user base, the better the demand for A2P SMS. Additionally, the low unemployment rate in Switzerland is acting in favor of growth in BFSI A2P SMS market - Switzerland.
It is worth noting here than in 2016, unemployment rate in Switzerland was 4.92 percent, which came down to 4.80% in 2017 and at 4.88% in 2018. And it is important to point out here that as unemployment rate decreases, people have better levels of incomes that can be put to savings accounts. That means along with demand for banking services for saving and salary disbursals, demand for BFSI A2P SMS will also increase, adding positively to the growth of BFSI A2P SMS Market - Switzerland.
It is worth noting here that as an economy, Switzerland is known for its advanced free market in the world and its banking services are well-known across the globe. Additionally, in the global innovation index, the country ranks one as per 2015 statistics. This means in terms of competitiveness, it is proactive to say the least and technologically quite cutting edge. It is also significant to note here that it is a rich country, third to Liechtenstein and Luxembourg. This only further substantiates the strength of its banking industry and the prowess of the economy which has a GDP of over USD 70.000, together with Luxembourg and Norway. It is a feat among nations that ate not island nations and are also not ministates.
Additionally, it is important to note that the BFSI A2P SMS Market - Switzerland is slightly fragmented and key players that are also profiled in the report by Transparency MARKET Research include -
- Dialogue Communications Ltd
- Infobip Ltd.
- FORTYTWO Group Ltd.
- Silverstreet B.V.
- Symsoft AB
- Beepsend AP
- Ogangi Corporation
- Syniverse Technologies, LLC
- AMD Telecom S.A.
- mBlox, Inc.
among others. It is worth noting here that the competition level is decent and it is leading the market chart a decent growth curve over the forecast period.
Customer Relationship Management to Dominate BFSI A2P SMS Market - Switzerland Over the Forecast Period
The BFSI A2P SMS Market - Switzerland market report, as prepared by Transparency Market Research is segmented by applications into Interactive Services, Promotional Campaigns, Customer Relationship Management (CRM), Pushed Content Services, and other inquiry related services.
As per experts involved in the report preparation for The BFSI A2P SMS Market - Switzerland, the sub-segment of customer relationship management (CRM) will see high growth and will account for about 32.6% of total revenue that the BFSI A2P SMS Market would witness over the forecast period.
However, it is just as pertinent to talk about promotional campaigns as it is about customer relationship management for the reason of the sub-segment growing at a considerable pace of CAGR 10% over the forecast period. One of the reasons that is attributable to growth in the promotional campaign sub-segment is launch of new banking products and services to keep customers hooked. And, to make sure these reach the customer on the right channel at the right type, A2P SMS are being deployed.
The “Switzerland A2P SMS Market for BFSI Industry” report provides the analysis of the Switzerland A2P SMS market for BFSI industry for the period of 2013 - 2023, where in period from 2015 to 2023 is forecast period and 2014 is considered as the base year. The report precisely covers all the major trends and technologies playing a major role in the BFSI A2P SMS market growth over the forecast period. It also highlights the drivers, restraints and opportunities expected to influence the market growth during the said period. The study provides the holistic perspective on the BFSI A2P SMS market growth, throughout the above forecast period in terms of revenue (in US$ Mn) in Switzerland.
The market overview section of the report demonstrates the market dynamics and trends such as drivers, restraints and opportunities that influence the current nature and future status of this market. Impact analysis of key trends has also been provided for every driver, restraint and opportunity, in order to give a thorough analysis of the overall competitive scenario of the market. Moreover, the report provides the overview of various strategies and the winning imperatives of the key players in the Switzerland A2P SMS market for BFSI industry and analyzes their behavior in the prevailing market dynamics.
The report segments the Switzerland A2P SMS market for BFSI industry, on the basis of applications into pushed content services, customer relationship management (CRM), promotional campaigns, interactive services, and other (inquiry related) services. Thus, the report provides in-depth cross segment analysis for the Switzerland A2P SMS market for BFSI industry and classifies it into various levels, thereby providing valuable insights on macro as well as micro level.
GMS, Dialogue Communications Ltd., Infobip Ltd., FORTYTWO Group Ltd., Silverstreet BV, Symsoft AB, Beepsend AB, Ogangi Corporation, Syniverse Technologies, LLC, AMD Telecom S.A., and mBlox, Inc. are some of the few major players operating within the Switzerland A2P SMS market, which have been profiled in this study. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players has been duly provided as part of company profiling.
- Below is the list of acronyms used in the report:
- A2P – Application- to- person
- CRM – Customer Relationship Management
- OECD – Organization for Economic Cooperation and Development
- SDFB – Swiss Design Institute for Banking and Finance
- FINMA – Swiss Financial Market Supervisory Authority
- FDPA – Federal Data Protection Act
- FMIA – Financial Market Infrastructure Act
- FIDLEG – Swiss Financial Services Act
- FINIG – Financial Institution Law