Application to Person SMS Market: Increasing Number of Applications to Bolster Market Growth

The international market for application-to-person (A2P) SMS comes with a mostly fragmented vendor landscape. There is no clear leading market player that accounts for a sizeable share of the market in terms of global revenue, as noted by Transparency Market Research in its recent market intelligence report. The level of competition is intense in the market for application to person SMS and absence of differentiation amongst various product offerings and the presence of several market players in the world market can be attributed for intensity of competition. Silverstreet BV, Fortytwo Telecom AB, AMD Telecom SA, and Syniverse Technologies LLC are a few of the eminent market players that adorn the global market for application to person SMS.

According to the published market research report, the world market for application to person SMS exhibited a market revenue valuation of around US$ 62.01 bn in the year 2017 and is forecasted to reach an amount of US$ 86.53 bn by the year 2025, rising at a growth rate of 4.2% CAGR from the time period that extends from the year 2017 to the year 2025. The volume of the world market for application to person SMS market stood at around 1,717 bn in the year 2017 and the same is forecasted to increase to a quantity of around 2,353 bn by the year 2025, rising at a growth rate of CAGR of 4.2% from the year 2017 to 2025. 

What could be the Growth Trajectories for the Market?

The international market for application to person SMS is forecasted to be encouraged by various growth promoting elements like the soaring number of mobile subscribers across the globe, increase in activities of mobile marketing by developers and marketers of application. Proliferation of application to person SMS services in mobile health, mobile payment across many different sectors, and mobile banking are also fuelling the market growth. Many factors like widespread availability of low-cost smart phones together with phenomenal penetration of internet, flourishing industry of industry of e-commerce, rise in services that are cloud/web enabled such as mobile banking and mobile payments are also forecasted to promote growth of the market for application to person SMSs over the period of forecast.

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A wide array of applications makes use of application to person SMSs currently and as such this wide usage is fuelling its demand. Utilization like updation about opportunities that are location-based, brand promotion, campaign perks, breaking news, and various promotional campaigns are attributed with the growth of the market. Broadcasting transactional messages make use of application to person SMS services widely and the same is used by numerous industries such as banking, entertainment, tourism, media and healthcare, retail, financial services, and marketing. As such with increasing set of applications pertaining to these services the need for application to person SMSs is also forecasted to bolster. 

However, there is a flipside of the market too. Certain growth restraining elements such as technical anomalies that are associated with phishing and spam messages, the concept of bulk SMS, illicit routes that affect revenues of the operators of telecom and all these are estimated to restrain growth of the said market.

Which Geographical Segments would Retain Its Lead in the Industry?

From the regional point of view, in the present market scenario, Asia Pacific and North America respectively held two leading spots in the world market. The regional dominance of Asia Pacific is owing to large base of human population and phenomenal increase in the number of subscription of mobile. The flourishing market for E-commerce and BFSI are also forecasted to the propel the said market in Asia Pacific.

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