Enterprise A2P SMS Market is Expected to Exhibit a CAGR of 6.1

enterprise-a2p-sms-market

The global enterprise A2P SMS market was valued at US$ 59.9 billion in 2016 and is projected to reach US$ 108.2 billion by 2025. Increasing number of network device users contributes to major growth of the market. According to Coherent Market Insights, around 17.1 billion network devices were used globally in 2016, the number of which is projected to reach 24.1 billion by 2021. Growing e-commerce industry also plays a major role in growth of this market.

According to Coherent Market Insights, in 2016, the U.S. e-commerce industry generated revenue of US$ 322 billion and is project to reach US$ 459 billion by 2020. Password reset, delivery status, special offers, product launches, sale details, signup details, and payment confirmation are some of the major SMS services provided by e-commerce companies. This in turn, fuels growth of this market.

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Key Takeaways of the enterprise A2P SMS Market:

The global enterprise A2P SMS market is estimated to exhibit a CAGR of 6.1% over the forecast periodIn 2016, this market generated revenue of US$ 59.9 billion and is projected to reach US$ 108.2 billion by 2025

Among application, the customer relationship management service segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Owing to high focus on customer engagement and adoption of digitalization by various business organization, the segment is expected to gain significant traction.

Among end users, the banking, financial services, and insurance segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Moreover, retail and e-commerce industry is projected to exhibit the highest CAGR over the forecast period.

Among organization size, the large enterprise segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Increasing adoption of digitalization in various companies of different verticals, have fueled growth of the enterprise A2P SMS market.

Among geography, Asia Pacific enterprise A2P SMS market held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. In 2016, this market in Asia Pacific generated revenue of US$ 28.2 billion with 44.2% market share. India, China, and Japan are some of the major countries that drive rapid growth of this market in Asia Pacific.

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Some of the major players involved in the global enterprise A2P SMS market include Syniverse Technologies, LLC, AMD Telecom S.A., Fortytwo Telecom AB. , CLX Communications AB , Ogangi Corporation , Silverstreet BV, Tanla Solutions Ltd., Symsoft AB, Cybercomm, and Infobip Ltd.

 

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