The global market for application-to-person (A2P) SMS features a largely fragmented vendor landscape, with no leading player accounting for a notable share in global revenue, observes Transparency Market Research in a recent report. The intense level of competition in the market can be attributable to the lack of differentiation among product offerings and the presence of numerous players in the global market. Some of the leading players in the market are Syniverse Technologies LLC, AMD Telecom SA, Fortytwo Telecom AB, and Silverstreet BV.
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According to the study, the global A2P SMS market had a revenue valuation of US$62.01 bn in 2017 and is expected to reach US$86.53 bn by 2025, expanding at a 4.2% CAGR from 2017 to 2025. The global A2P SMS market volume stood at approximately 1,717 bn in 2017 and is expected to rise to 2,353 bn by 2025 by, expanding at a CAGR of 4.2% from 2017 to 2025.
In 2016, Asia Pacific dominated the market and gathered approximately 40% of the overall market revenue share, followed by North America that accounted for a major share of the global market revenue. The Asia Pacific region is likely to retain its leading position throughout the forecast period, with notifiable rise in global A2P SMS revenue share in 2025.
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In terms of application, the segment of customer relationship management services is expected to remain the most lucrative over the report’s forecast period. Customer relationship management services are used to offer billing and transaction-related information to the customers and are finding extensive demand across the banking and financial sector as consumers increasingly rely on online services rather than physical transactions for most of their banking purposes.