Enterprise A2P SMS had a market value of USD 44.96 billion in 2020. The effects of COVID-19 have been unprecedented and staggering, and business A2P SMS has experienced a surge in demand across all regions as a result of the pandemic. Our analysis predicts that the market will grow significantly by 3.9% in 2020 compared to year-over-year growth between 2017 and 2019. The market is anticipated to expand at a CAGR of 4.6% between 2021 and 2028, rising from USD 46.81 billion in 2021 to USD 64.24 billion in 2028. The market's demand and growth rate returning to pre-pandemic levels after the pandemic is over is what is responsible for the CAGR's consistent increase.
Enterprise A2P SMS refers to the practice of communicating with clients via mobile applications. Smartphone and mobile device adoption is likely to fuel market expansion. Due to the growing competition among businesses, industries are heavily investing in A2P messaging. The increased emphasis on customer engagement and acquisition is anticipated to increase the size of the global market.
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Based on channel, deployment mode, application, end-use vertical, and geography, the study thoroughly segments the global data visualization market. Each segment and its corresponding sub-segments are thoroughly examined in the report using a graphical and tabular representation. By using it to identify and develop strategies based on the fastest-growing market segments and those with the highest revenue creation, as highlighted in the report, market players, investors, and new entrants can all profit from this analysis.
COVERAGE OF REPORTS
To give the user a better understanding, the enterprise A2P SMS market research report highlights key global geographical areas. The report also examines technologies that are being adopted quickly on a global scale and offer market insights into the most recent industry growth trends. It also provides some additional drivers and constraints that will help the reader learn more about the market in-depth.
Key Industry Developments:
In November 2020, Infobip Ltd. announced a deal to buy OpenMarket Inc. from Amdocs Inc. The acquisition is expected to strengthen Infobip's presence outside the US.
KEY INDUSTRY PLAYERS
Important players are forming strategic alliances and working together to increase business opportunities, including Orange Business Services, Global Message Services, Infobip Ltd, Smsglobal, Tyntec Group Limited, Vodafone Group Plc, Genesys Telecommunications, Mitto, and CLX Communications AB. In order to offer business solutions for customer engagement, the companies also work with network operators. These players are making investments in cutting-edge messaging systems to support message delivery that never stops.
List of Key Companies Profiled:
SAP SE (Walldorf, Germany)
Orange Business Services (Paris, France)
Global Message Services AG (Baar, Switzerland.)
Infobip Ltd (London, United Kingdom)
Smsglobal (New York, United States)
NTT Communications Corporation (Tokyo, Japan)
Tata Communications Limited (Mumbai, India)
China Unicom (Hong Kong)
Tyntec Group Limited (London, United Kingdom)
Twilio Inc. (California, United States)
Mitto (Switzerland.)
Vodafone Group Plc (Berkshire, United Kingdom)
Genesys Telecommunications (California, United States)
Zen Interactive Technologies (Dubai)
AMD Telecom S.A (Switzerland)
CLX Communications AB (Sweden)
RESTRAINING FACTORS
Digital platform usage is growing, which has led to concerns about data security and privacy. Rising cybercrime and data theft can negatively impact a customer’s experience.
In response to the growing number of data breaches and issues with data protection, governments have introduced new regulations. These government regulations strengthen virtual data protection and security. The General Data Protection Regulation, for instance, which the European Union introduced in May 2018 offers data protection laws and keeps track of a person's actions within the area. In a similar vein, the California Consumer Privacy Act was introduced by the federal government of the United States in January 2020 to give customers access to or control their personal data.
REGIONAL INSIGHTS
Over the forecast period, the market is anticipated to expand significantly across all industries. Nevertheless, during the anticipated period, market growth is likely to be hampered by the growing number of privacy and security threats. The threat posed by gray routes is one of the major dangers that industries must deal with. According to a report by Mobilesquared, the grey route cost USD 5.76 billion in losses in 2018. Similarly, traffic blending is also creating challenges for service providers. Various companies, even with installed firewall solutions, witnessed traffic blending issues. This is likely to hinder the enterprise A2P SMS market's growth.
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