A2P SMS (Application-to-Person) Market Size Demonstrates Immense Growth Potential with Staggering CAGR Value by 2027 | Twilio Inc., Syniverse Technologies, LLC, Nexmo Inc., OpenMarket, Inc., Tyntec Ltd., Ogangi Corporation, CLX Communications
A2P (Application-to-Person) SMS messaging also known as professional or enterprise SMS is a process for sending SMS by an application to a mobile subscriber. This service is used by many businesses for the purpose to communicate with its customers or to send time-sensitive alerts resulting in improving communication and increasing efficiency this includes, banking notifications, automatic booking confirmations, appointment reminders, marketing notifications, loyalty programs and SMS based on two factor authentication. Presently, A2P service is used by major industrial verticals such as BFSI (Banking, Financial services and Insurance), retail, marketing, healthcare, tourism, media and others. For example, financial institutions use A2P SMS for sending automated, event-based notifications to their customers.
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The vertical segment of this service include BFSI, retail, media & entertainment, travel & transport, hospitality and others. The BFSI segment of A2P SMS has the highest growth among all other verticals owing to increase in the usage of mobile based banking services that includes money transfers, online payments, generating OTPs, transaction notifications, fraudulent activity warnings, checking account balance and other such services. Increased awareness about the benefits of using a bank for safety of money is expected to drive customers subscribe to various banking services. Eventually this would lead to growth of BFSI vertical in the A2P messaging arena.
The A2P SMS market is segmented on the basis of type into cloud API messaging services and traditional & managed messaging services. Cloud API messaging services is a low-cost, automatically scalable model with reliable services and high flexibility. The global A2P SMS market is further segmented on the basis of application as pushed content services, interactive services, promotional campaigns CRM services and other services. The A2P SMS market is segmented by regions into North America, Europe, Asia Pacific, Middle East & Africa and South America. Beepsend AB, CLX Communications AB, Dialogue Communications Ltd, Infobip Ltd., Tanla Solutions, Syniverse Technologies, LLC, Nexmo Inc., Trillian Group Ltd., Twilio Inc., tyntec among others are some of the chief markets players operating in the global A2P SMS market.
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