According to the latest report by IMARC Group, titled "Premium Messaging Market Report by Type (A2P Messaging, P2A Messaging), Tools (Cloud API Messaging Platform, Traditional and Managed Messaging Services), End User (BFSI, Transport and Travelling, Healthcare, Media and Entertainment, Retail and E-Commerce, IT and Telecom, Government, and Others), and Region 2024-2032," the global premium messaging market reached a value of US$ 77.1 Billion in 2023. Premium messaging refers to a service that aids in sending mobile messages, such as SMS and MMS, from an application to a mobile user. It includes P2A (person-to-application) messaging, that is commonly used for various SMS lottery campaigns, TV voting campaigns, subscriptions, competitions, and A2P (application-to-person) messaging, which is typically used for alerts, notifications, and marketing messages. These services are utilized for purchasing messaging programs offered by third-party content providers at premium rates. These programs are initiated through five or six-digit numbers, also called short codes, which are utilized to track text messages from mobile phones to interactive mobile messaging applications. Since premium messaging services are user-friendly, provide value and help generate interest regarding the services offered by the business, they are widely preferred by the masses.
Global Premium Messaging Market Trends:
The global market is majorly driven by the increasing use of SMS as a business communication tool for operational and marketing communications. Furthermore, the ubiquity of text messages due to compatibility with every handset is a crucial factor that is expected to contribute to the premium messaging market significantly. Moreover, the shifting focus on enhancing customer interaction and the widespread adoption of A2P messaging is propelling the market. Besides this, a considerable rise in the mobile subscriber base and the increased revenue for mobile network operators are offering numerous growth opportunities for the key market players. Additionally, the rising demand for SMS-powered two-factor authentication and the emerging trend of mobile marketing via messaging are providing a boost to the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 116.4 Billion by 2032, exhibiting a CAGR of 4.5% during 2024-2032.
Market Summary:
- On the basis of the type, the market has been segmented into A2P and P2A messaging.
- Based on the tools, the market has been bifurcated into cloud API messaging platform and traditional and managed messaging services.
- On the basis of the end user, the market has been classified into BFSI, transport and travelling, healthcare, media and entertainment, retail and e-commerce, IT and telecom, government, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include AMD Telecom S.A., AT&T Inc., Comviva Technologies Limited (Tech Mahindra Limted), Infobip Ltd., Mavenir, Sinch, Syniverse Technologies LLC, Tata Communications Limited, Twilio Inc., Tyntec and Verizon Communications Inc.
Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, Tools, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
AMD Telecom S.A., AT&T Inc., Comviva Technologies Limited (Tech Mahindra Limted), Infobip Ltd., Mavenir, Sinch, Syniverse Technologies LLC, Tata Communications Limited, Twilio Inc., Tyntec and Verizon Communications Inc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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