Premium A2P and P2A messaging market players are displaying interest towards niche applications in e-commerce and retail businesses, to leverage key growth opportunities, post pandemic.
DUBAI, UAE / ACCESSWIRE / July 23, 2020 / Future Market Insights: The premium A2P and P2A messaging market is expected to surpass a valuation of US$ 75 Bn in 2020. According to FMI, the coronavirus pandemic will generate higher demand for premium A2P and P2A messaging services, as end user verticals are increasingly shifting their operations to online, cloud-based infrastructure, as work-from-home becomes the norm. In addition, OTT applications will also gain demand during the crisis period further aiding market growth.
"Frequent innovations in mobile transactions in addition to application in the BFSI sector with minimal data connectivity issues are likely to provide impetus to the the premium A2P and P2A messaging market. Also, massive penetration of mobile devices and services and strategic product promotion will aid market growth for the foreseeable future," says the FMI analyst.
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Premium A2P and P2A Messaging Market - Important Takeaways
- Authentication service applications are witnessing high demand owing to the increased sharing of personal data across the internet.
- E-commerce and retail sector applications are anticipated to witness high growth, aided by tech savvy consumers, and internet and smartphone penetration.
- Asia Pacific is a fast growing premium A2P and P2A messaging market, owing to widespread adoption of services, particularly in Australia and China.
Premium A2P and P2A Messaging Market - Driving Factors
- Rapid growth of global population coupled with high penetration of smartphone devices are key growth factors
- Frequent innovations in the mobile transactions sector is a key contributor to market developments.
- Security and scalability of cloud API services is expected to generate major growth opportunities.
Premium A2P and P2A Messaging Market - Leading Constraints
- Changes in government regulations governing communication and telecom industries is restricting market growth.
- High complexity of conventional telecom infrastructure and issues of gray routing hinder market growth.
Expected Impact on Market by Coronavirus Outbreak
The coronavirus crisis has pushed corporate entities, entertainment businesses, and government and education sectors to move operations to online channels. Further, the growing popularity of cloud-based systems during the crisis period will generate remunerative opportunities for market players. Potential applications in BFSI, entertainment, and electronics will aid in the generation of major revenue streams even in pandemic.
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Some of the top players operating in the premium A2P and P2A messaging market are Mitto, Tata Communications Ltd., Kaleyra, Nexmo, MSG 91, Tecomsa Ltd., AT&T, SAP SE, and Vodafone among others. Market players are focusing on potential applications in the IT, BFSI, and telecom sectors to increase penetration. For instance, Mavenir has announced the interconnection of Deutsche Telecom, Telefonica, and Vodafone through its RCS mobile business messaging cloud.
More on the Report
FMI's provides in-depth insights on the premium A2P and P2A messaging market. The market is segmented in terms of application (inquiry and search related services, customer relationship management services, authentication services, promotion and marketing services, notification and alerts, voting and entertainment, pushed content, interactive messages, and others), traffic (national and international), tools (cloud API messaging platforms, and traditional and managed messaging services) and end user (BFSI, IT & telecom, media & entertainment, travel & transport, retail & e-commerce, healthcare, government, utilities & logistics, and others) across eight key regions (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan, GCC countries, and Middle East and Africa).
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SOURCE: Future Market Insights