Categories: Market Research

A2P Messaging Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The A2P Messaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s A2P Messaging Global Market Report 2024, The A2P messaging market size has grown steadily in recent years. It will grow from $69.96 billion in 2023 to $72.68 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to internet penetration, rise in smartphone usage, business communication evolution, SMS integration in services, security and authentication needs.

The A2P messaging market size is expected to see strong growth in the next few years. It will grow to $88.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to IoT communication, banking and financial services usage, healthcare and appointment reminders, adoption of chatbots and AI, industry-specific integration. Major trends in the forecast period include compliance with regulatory standards, interactive messaging experiences, vertical-specific messaging solutions, API integration and platform diversification, omnichannel messaging strategies.

Increasing penetration of smartphones is expected to propel the growth of the A2P messaging market going forward. A smartphone refers to a portable electronic device that connects to the internet and cellular networks. A2P messaging helps smartphone users receive messages from a business application for marketing or customer service purposes, mainly via an automated procedure. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Therefore, the increasing penetration of smartphones is driving the growth of the A2P messaging market.

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The A2P messaging market covered in this report is segmented –

1) By Component: Platform, A2P Service

2) By SMS Traffic: National Traffic, Multi-Country

3) By Deployment Mode: On-Premises, Cloud

4) By Application: Authentication Services, Promotional and Marketing Services, Customer Relationship Management Services, Pushed Content Services, Interactive Messages, Other Applications

5) By End Users: Banking, Financial Services, and Insurance, Retail and Ecommerce, E-Governance, Hyperlocal Businesses, Healthcare, Travel and Hospitality, Other End Users

Major companies operating in the A2P messaging market are forming partnerships to develop new products and strengthen their positions in the market. Collaborations and partnerships in the A2P messaging market foster innovation, leverage complementary expertise, and accelerate the development and commercialization of advanced therapies by combining resources and capabilities. For instance, in June 2021, Du, an UAE-based telecommunications company partnered with Route Mobile Limited, an India-based cloud-communication platform service provider to launch A2P messaging hub. The messaging hub is a scalable solution that is entirely managed by Route Mobile and built to accommodate a higher capacity of SMS terminations. Through their cooperation, du will be able to take advantage of Route Mobile’s firewall solutions and position them in relation to other carriers in order to close revenue leaks. Route Hub, the carrier-grade, fully scalable SMS hubbing platform created in-house by Route Mobile, provides managed services to mobile operators worldwide. The messaging hub is anticipated to offer businesses, over-the-top (OTT) providers, and mobile network operators (MNO) a comprehensive and customized communication service.

The a2p messaging market report table of contents includes: