Premium A2P and P2A Messaging Market by Traffic (National, International), Tools (Cloud API Messaging Platforms, Traditional and Managed Messaging Services) & Region - Forecast 2022to2029
The market for premium P2P and A2P messaging was worth around US$ 79,601.0 million in 2021 and is anticipated to grow at a CAGR of 5.0% to reach US$ 1,17,695.0 million by 2029. A2P and P2A premium messaging accounts for roughly 55% of all consumer communications. The expansion 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 users, and the expanding trend of mobile marketing via messaging are some of the causes that are fueling the expansion of the premium A2P messaging and P2A messaging markets.
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.
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Key Companies Profiled
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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About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Aw
Jan 27, 2023
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