The e-commerce sector currently caters to all the leading end-use sectors, including tourism, transport, hospitality, healthcare, and entertainment. E-commerce penetration is surging rapidly in the region and is further estimated to fuel the growth of the regional enterprise A2P SMS market. SMS is the most convenient way to carry out promotional activities to reach the masses in this region.
The global market for enterprise A2P SMS is highly fragmented with the presence of a plethora of players striving to stay ahead in the game. The low scope of product differentiation is also intensifying the competition among the current players. This is also creating barriers for new players who want to venture into the market. According to the report, the leading service providers of enterprise A2P SMS are acquiring several small-scale vendors. The regional players are also strengthening their position in the market with extensive marketing activities, thus, pushing the market landscape towards consolidation in the near future.
The companies in the global enterprise A2P SMS market are adopting innovative approaches and leveraging emerging opportunities in this space. Latest insights reveal that the strategies applied by the market players does not follow a specific status quo. The strategies range from mergers and acquisitions to the adoption of new technologies, product launch, and market expansion.
In spite of the robust trend of online messaging apps, several consumers in the developing regions still employ SMS as their primary source of digital communication. According to the report, marketers are not oblivious to this fact and are thereby using A2P SMS services for boosting their marketing efforts and reaching out to a wider customer base. Not only are private organizations taking leverage of this service, governments across developing countries are using it to communicate key information regarding policies and regulations with their citizens.
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The growing pervasiveness of enterprise A2P SMS is the next generation of technological advances which will be one of the core points of interaction in both the B2B as well as B2C sectors. The growing demand for mobile business applications across the globe fuelled by the convergence of IP messaging and SMS solutions has triggered the adoption of enterprise A2P SMS, according to a recent market research study published by Future Market Insights. According to this report, the global market for enterprise A2P SMS is projected to be valued at US$ 100,103.5 Mn by the end of 2028 rising from a valuation of US$ 53,600.0 Mn in 2017. The market is likely to foresee a stable growth rate of 5.8% from 2018 to 2028.
Hybrid Cloud-based Messaging Platform and 2FA to Surface as a Principal Trend
Messaging solution providers in this market offer multi-channel cloud-based mobile marketing platforms for creating SMS campaigns and push messaging. This also allows marketers to send messages virtually to each mobile device utilising push notifications, email, SMS, outbound dialling, IP messaging, and social media channels. These solutions increased the scalability to marketers.
Companies offering these solutions include Vibes, mGage, Fastsms, LLC, and Mblox, Inc. On the other hand, SMS-powered two-factor authentication or 2FA is an effective and efficient tool that requires users to enter a password along with the short code delivered through SMS to a handset. This supplementary authentication method offers a more secure user experience and is poised to progress steadily over the years ahead.
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Spam Messages to Act as a Roadblock in Market Progression
Phishing, spam, spoof and malware transmitted via the mobile messaging system negatively impacts subscriber trust, weakens brand loyalty and intensifies the operating costs as well. Mobile spam affects the revenue and brand value of operators, advertisers, app developers, subscribers, and device manufacturers. According to analysts at Future Market Insights, this factor is expected to act as a major roadblock in the growth of the global enterprise A2P SMS market in the long run.
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The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.