A2P SMS Market Size Worth USD 101.77 Billion by 2028 at 6.2% CAGR Global Analysis by Channel [Message (Chat Apps and SMS), Voice, Email, Webpush]
The Insight Partners
8 min read
The Insight Partners
The A2P SMS Market growth driven by the increasing demand for customer engagement usage to encourage the use of CPaaS and growing adoption of rich communication services, the growing trend of mobile marketing via messaging creating opportunity for the A2P SMS and CPaaS Market players, the increased customer engagement through a wide range of digital touchpoints.
New York, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “A2P SMS and CPaaS Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Channel [Message (Chat Apps and SMS), Voice, Email, Webpush, and Others], Enterprise Size (SMEs and Large Enterprises), and Industry (IT & Telecom, BFSI, Retail & E-commerce, Healthcare, and Others)”, the global A2P SMS and CPaaS market size is projected to grow from USD 71.07 billion in 2022 to USD 101.77 billion by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028.
A2P SMS and CPaaS Market Report Scope, Segmentations, Regional & Country Scope:
Report Coverage
Details
Market Size Value in
USD 71.07 Billion in 2022
Market Size Value by
USD 101.77 Billion by 2028
Growth rate
CAGR of 6.2% from 2022 to 2028
Forecast Period
2022-2028
Base Year
2022
No. of Pages
175
No. Tables
147
No. of Charts & Figures
99
Historical data available
Yes
Segments covered
Component, Channel, Enterprise Size, and Industry
Regional scope
North America; Europe; Asia Pacific; Latin America; MEA
Country scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
A2P SMS and CPaaS Market: Competitive Landscape and Key Developments 8x8 Inc., AVAYA Inc., Intelepeer Cloud Communication, MessageBIRD B.V., Plivo Inc., Cisco System, Twilio Inc., Vonage Holding Corp., VOXIMPLANE (Zingaya, Inc.), and Wazo Communication Inc. are a few of the leading players profiled in the A2P SMS and CPaaS market report. Several other essential market players were analyzed for a holistic view of the A2P SMS and CPaaS market and its ecosystem.
The report provides detailed market insights, which help key players strategize their growth. A few developments are mentioned below:
In September 2021, Vonage introduced Video Express to help businesses quickly and simply deliver flexible, personalized, and quality video experiences for large audiences.
In October 2021, Vonage and Etisalat Digital entered into a strategic partnership to offer customized CPaaS solutions across the UAE.
Growing Trend of Mobile Marketing via Messaging Drives A2P SMS and CPaaS Market: Businesses use mobile marketing to instantly notify and inform consumers and provide them with tickets and promotional messaging through CPaaS. As one of the simplest and most economical forms of communication for generating leads, boosting sales, and cultivating relationships with customers, mobile marketing has been widely adopted across a variety of industry verticals, including BFS, media & entertainment, travel, tourism, retail, aerospace, insurance, and healthcare. The urgent need to secure customers' and organizations' data has emerged as one of the top objectives for the companies as businesses employ SMS messaging services to communicate with users and enhance their user experience.
Mobile network operators and SMS aggregators are placing more emphasis on A2P messaging to boost their income. For example, when a mobile marketer utilizes A2P messaging, businesses pay the telecom operator and SMS aggregator for their services. Moreover, technological advancements offer new potential in the CPaaS industry in mobile marketing. For instance, in May 2022, Mass reported that MTarget had chosen iBASIS to introduce CPaaS mobile marketing campaigns via APIs for contact centers and enterprises in banking, finance, and retail. This campaign will be implemented via programmable voice calls.
A2P SMS and CPaaS Market: Industry Overview 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 in Europe: The COVID-19 pandemic has adversely impacted nations such as Italy, Spain, France, and Germany. Before the onset of the COVID-19 pandemic, the A2P SMS and CPaaS market growth was anticipated to develop rapidly because of rising demand from various sectors, including e-commerce, IT & telecom, and increased business activity across all industry verticals. However, the COVID-19 pandemic, which forced lockdowns in Europe, caused a sharp drop in output across several industries, impacting the customer communications management business in the region. The lockdown imposed by governments of various European countries forced the closure of various sectors, including the IT, telecom, and automotive industries, which increased the demand for CPaaS to improve customer communication and provide the finest services. As a result, the emergence of the pandemic in 2020 supported the A2P SMS and CPaaS market growth since more industrial verticals were adopting CPaaS solutions.
Due to growth in several industries, including healthcare, tourism & hospitality, telecommunications, and business financial services, the need for CPaaS use cases is anticipated to surge in 2022. In addition, the European Commission started the capital markets union initiative in 2022 to provide finance support for European enterprises and spur economic growth across the EU. For instance, in April 2022, Vercom, a Polish CPaaS solutions provider, announced its acquisition of MailerLite, a global provider of tools for email communication based out of Lithuania, for US$90 million. Therefore, it is projected that such expansion measures bolstering company activities would increase the need for CPaaS.
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