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.
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The A2P Messaging [https://www.marketsandmarkets.com/Market-Reports/a2p-messaging-market-44.html?utm_source=prnewswire&utm_medium=referral&utm_campaign=paidpr] 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(TM). 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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