According to the latest report by IMARC Group, titled "Premium Messaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global premium messaging market reached a value of US$ 69.1 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 94.7 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800