The value of the global premium A2P and P2A messaging market, which was estimated to be around US$ 79,601.0 million in 2021, is expected to rise at a CAGR of 5.0% to US$ 1,17,695.0 million by 2029.
The value of the global premium A2P and P2A messaging market, which was estimated to be around US$ 79,601.0 million in 2021, is expected to rise at a CAGR of 5.0% to US$ 1,17,695.0 million by 2029. The market for premium P2P and A2P messaging makes up almost 55% of the market for customer communication.
The growth of the premium A2P and P2A messaging markets will keep accelerating as a result of ongoing improvements in customer communication services. The demand for SMS-powered two-factor authentication, an increase in the number of mobile subscribers, and a growing trend in mobile marketing via messaging are some of the factors that are fueling the growth of the premium A2P messaging and P2A messaging markets.
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Competitive Landscape
Major solution vendors are inclined at investing heavily in customer communication technology innovations to uncover increased applications of premium A2P and P2A messaging. The vendors are also focusing on strategic partnerships and collaborations for captivating competitive market positioning and increased market shares.
For instance, In August 2019, Comviva joined hands with N-able Pvt Ltd. as a local strategic alliance partner to catalyze digital services in Sri Lanka. N-able leveraged Comviva’s innovative offerings to the telecom service providers in Sri Lanka, through its Digital Services Delivery Platform (DSDP).
Key Companies Profiled
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Premium A2P (Application-to-Person) messaging refers to the sending of text messages from a business or application to a person’s mobile phone. This type of messaging is used for things like appointment reminders, marketing campaigns, and notifications. P2A (Person-to-Application) messaging refers to messages sent from a person’s mobile phone to an application or business. This type of messaging is typically used for things like customer service inquiries, complaints, and feedback. Both A2P and P2A messaging can be done via SMS (Short Message Service) or other messaging platforms like WhatsApp or RCS (Rich Communication Services).
Enterprises Focusing on RCS (Rich Communication Services)
Rich communication services allow senders and receivers to communicate in two ways. Consumers can tap on their screens to respond to RCS messages. It is expected that advertisers and marketers will take advantage of it, but its implementation will reach across all companies. RCS is not yet widely accepted, and in the next five years, just 10% of smartphones are projected to be able to receive RCS messages according to FMI research. RCS will yield significantly better results than SMS, but it will take a couple of years for it to hit its pace. RCS currently has nearly 170 million worldwide subscribers. This application is regarded as a vibrant new business alternative for companies.
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Premium A2P and P2A Messaging Market Outlook by Category
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Premium A2P And P2A Messaging Market review , outlook , forecast , demand , size , share , key trends , analysis , Research , overview
Jun 09, 2023
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