CHICAGO, May 24, 2024 /PRNewswire/ -- The market for
A2P messaging appears to have a bright future because to factors
like rising industry usage and growth, integration with
cutting-edge technologies like RCS and AI, and growing use of safe,
omnichannel communication techniques. Its capabilities and reach
will be further enhanced by the rollout of 5G networks, emerging
markets, and regulatory compliance.
The A2P Messaging Market size is projected to grow from
from USD 73.1 billion in 2024 to
USD 84.8 billion by 2029, at a CAGR
of 3.0% during the forecast period, according to a new report by
MarketsandMarkets™. The need for secure and reliable communication
for transactional purposes, such as banking alerts, two-factor
authentication, and delivery notifications, is driving the demand
for A2P messaging.
Browse in-depth TOC on "A2P Messaging
Market"
318 – Tables
56 - Figures
257 –
Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD)
Billion
|
Segments
Covered
|
Offering (Platform,
Services), Application (Authentication Services, Promotional and
Marketing Services, Pushed Content Services, Interactive Messaging
Services, Customer Relationship Management Services, Other
Applications), Communication Channel (SMS, Operator IP, Third-party
Apps, Fixed Fees), SMS traffic (Domestic, International), End User
(BFSI, Retail & eCommerce, Government, Healthcare, Travel &
Hospitality, Other End Users) and Region
|
Region
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Companies
covered
|
AT&T (US), China
Mobile (China), Sinch (Sweden), Twilio (US), Infobip (UK), Vonage
(US), Orange (France), Comviva (India), Route Mobile (India), BICS
(Belgium), Monty Mobile (UK), Tata Communications (India),
Syniverse (US), Tyntec (UK), Soprano Design (Australia), Genesys
(US), Clickatell (US), CEQUENS (Egypt), MSG91 (India), Plivo (US),
Mitto (Switzerland), Bird (Netherlands), Telewhale (Cyprus),
EnableX.io (Singapore), TextUs (US), Voxvalley
(Singapore)
|
Based on application, the authentication services segment
holds the largest market size during the forecast period
A2P messaging services are frequently utilized in authentication
processes to transmit verification codes or one-time passwords
(OTPs) to users. This method, known as two-factor authentication
(2FA) or multi-factor authentication (MFA), serves to validate a
user's identity before granting access to a service or authorizing
a transaction. With the widespread adoption of mobile devices,
personal data is increasingly transmitted over the internet. To
bolster security in authentication messaging services, two-factor
authentication has emerged as the premier and most secure approach
for organizations to safeguard their users and data. SMS-based
authentication, leveraging OTPs, has gained prominence due to the
ubiquity of mobile devices among users. 2FA authentication stands
out as a cost-effective and preferred security measure embraced by
brands and consumers alike for online authentication. This method
necessitates users to input both a password and a code delivered
via A2P message, providing an added layer of security and
addressing consumer apprehensions regarding security
effectively.
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Based on communication channel, the third-party apps segment
is expected to grow with the highest CAGR during the forecast
period
This includes IP-based messages sent using communication apps
such as Facebook Messenger, WeChat and WhatsApp. Third-party
applications are integral to the functioning of
Application-to-Person (A2P) messaging, enabling businesses to
efficiently communicate with their customers via SMS. These apps
provide a diverse range of functionalities tailored to meet various
business needs. From facilitating marketing campaigns by offering
features like message scheduling and audience targeting to
streamlining customer service through automated replies and
chatbots, third-party A2P messaging apps empower businesses to
engage with their audience effectively. They also play a crucial
role in delivering transactional alerts, such as account
notifications and flight updates, ensuring timely communication of
critical information. Additionally, these apps are commonly used
for two-factor authentication, enhancing account security for
users. By enabling businesses to send notifications, updates, and
promotional messages, third-party A2P messaging apps help maintain
customer engagement and satisfaction, ultimately contributing to
the success of businesses in today's digital landscape.
North America to hold the
largest market size during the forecast period
The A2P Messaging Market in North
America is a thriving ecosystem fueled by the burgeoning
demand for streamlined business-to-consumer communication. With a
landscape dominated by key players like Twilio, Syniverse, Infobip
and Sinch, the market has witnessed exponential growth driven by
technological innovations such as messaging APIs and AI-driven
personalization. However, amidst this growth, regulatory compliance
remains paramount, with adherence to regulations like the TCPA and
CASL crucial for maintaining trust and avoiding penalties. Despite
challenges such as carrier filtering and increasing competition,
the market's future appears promising, with continuous advancements
to further enhance customer engagement and integration with
technologies like RCS and OTT messaging platforms.
Top Key Companies in A2P Messaging Market:
The A2P Messaging Market comprises major providers, such as
AT&T (US), China Mobile (China), Sinch (Sweden), Twilio (US), Infobip (UK), Vonage
(US), Orange (France), Comviva
(India), Route Mobile
(India), BICS (Belgium), Monty Mobile (UK), Tata
Communications (India), Syniverse
(US), Tyntec (UK), Soprano Design (Australia), Genesys (US), Clickatell (US),
CEQUENS (Egypt), MSG91
(India), Plivo (US), Mitto
(Switzerland), Bird (Netherlands), Telewhale (Cyprus), EnableX.io (Singapore), TextUs (US), Voxvalley
(Singapore). To increase their
market share in the A2P messaging industry, these competitors have
used a variety of growth methods, including partnerships,
agreements, collaborations, new product releases, product
enhancements, and acquisitions.
Recent Developments
- In February 2024, Communications
Platform-as-a-Service (CPaaS) solutions firm Sinch India launched
its new solution, Sinch Trust, to bring transparency and
trustworthiness to business messaging. Sinch Trust addressed
critical needs in the Indian SMS market by offering much-needed
transparency and reliability and equipping businesses with the
tools to capitalize on missed opportunities that turn into
potential gains.
- In February 2024, Vonage
partnered with KDDI Web Communications to bring Vonage
Communications APIs to customers in Japan. With Vonage's Communications APIs,
businesses in Japan would be able
to bring new communications capabilities to customers through
online calling and two-way messaging and build better connections
and deeper engagement. In addition, security could be enhanced with
simple, seamless two-factor authentication powered by the Verify
API, while Vonage's conversational commerce application, powered by
Jumper.ai, enabled businesses to create AI-powered omnichannel
experiences that boost sales and increase customer
satisfaction.
- In February 2024, Infobip
introduced its Rich Communication Services (RCS) Business Messaging
solution to enable MNOs and enterprises to engage with customers
and create memorable experiences by delivering rich conversational
messages.
- In February 2024, Route Mobile
partnered with Billeasy to introduce a first-of-its-kind ticket
purchase experience through Rich Communication Services (RCS)
Business Messaging for Maha Metro Pune. Through this strategic
partnership, users would have the convenience of purchasing Maha
Metro Pune e-tickets directly via RCS Messages on phones.
- In November 2023, AT&T
introduced AT&T ActiveArmor, offering new text-filtering
features for even more protection, blocking spam text messages, and
even taking down malicious websites.
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A2P Messaging Market Advantages:
- Almost any mobile phone user can receive A2P messages,
regardless of their location or internet availability. It is the
perfect instrument for reaching a large audience because of its
high penetration rate.
- A2P messages—in particular, SMS—are delivered instantaneously
and frequently have open rates that above 90%. This guarantees that
recipients read messages as soon as possible.
- A2P messaging is an affordable communication option,
particularly for companies who have a lot of messages to send out.
Because of its price and effectiveness, it provides a strong return
on investment (ROI).
- Marketing campaigns, transactional notifications, customer
support alerts, two-factor authentication (2FA), appointment
reminders, and more may all be accomplished with A2P
messaging.
- Personalised messages can be sent depending on information
about the user, including name, preferences, and actions. Customer
satisfaction and engagement both rise as a result of this
personalisation.
- Comparing A2P messaging to other communication channels,
engagement rates are typically higher. Compared to emails or other
digital communications, recipients of SMS messages are more likely
to reply or take action.
- A2P messaging services, including SMS, are extremely safe and
dependable. Compared to email, they are less vulnerable to spam and
other online risks because they use established mobile
networks.
- Due to their ability to function internationally, A2P messaging
systems are a great resource for companies with a global clientele.
They can communicate with clients across international borders
without experiencing major delays or extra expenses.
Report Objectives
- To determine, segment, and forecast the global A2P Messaging
Market based on offering, application, communication channel, SMS
traffic, end user, and region in terms of value.
- To forecast the size of the market segments to five main
regions: North America,
Europe, Asia Pacific, Middle
East & Africa, and
Latin America.
- To provide detailed information about the major factors
(drivers, opportunities, threats, and challenges) influencing the
growth of the A2P Messaging Market.
- To study the complete value chain and related industry segments
and perform a value chain analysis of the A2P Messaging Market
landscape.
- To strategically analyze the macro and micro markets to
individual growth trends, prospects, and contributions to the total
A2P Messaging Market.
- To analyze the industry trends, patents, and innovations
related to the A2P Messaging Market.
- To analyze the opportunities for stakeholders by identifying
the high-growth segments of the A2P Messaging Market.
- To profile the key players in the market and comprehensively
analyze their market share/ranking and core competencies.
- To track and analyze competitive developments, such as mergers
& acquisitions, product launches & developments,
partnerships, agreements, collaborations, business expansions, and
Research & Development (R&D) activities.
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