Premium A2P and P2A Messaging Demand to Hit US$ 75 Bn in 2020

Growing preference for efficient and integrated communication continues to stimulate the demand for premium application-to-person (A2P) and person-to-application (P2A) messaging solutions. The vast expanse of cloud computing industry and rampant Internet penetration have been working in favor of the premium A2P and P2A messaging market. Attaining the value in excess of US$ 75 Bn by 2020, global premium A2P and P2A messaging market is set for 1.5X growth revenues growth over the next decade. Various start-ups, including Uber, Airbnb, and LINE are preferring these messaging platforms as a scalable communication solution.

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Opportunities Abound in CRM Services

Accounting for about a fourth of total market value, customer relationship management (CRM) services continues to remain the top application category of premium A2P and P2A messaging. Promotional and marketing services, following CRM services in terms of revenue generation, are also leveraging the solution significantly. On the other hand, usage of premium A2P and P2A messaging in authentic services is increasing rapidly.

Stakeholders Compete Based on IP-Based Messaging Services

A majority of enterprises are moving from conventional messaging systems to IP-based messaging services on the back of their enhanced security, multi-media interaction, and reduced traffic. Further, they can be integrated with circuit-switched SMS. Google has launched e-mail to SMS and vice-versa service in Nigeria, Kenya, and Ghana, while Facebook utilizes SMS service to send notifications on feature phones. Such trends are offering potential opportunities to premium A2P and P2A messaging market players.

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Market players continue to reap higher profits from the banking, financial security, and insurance (BFSI sector), where demand for premium A2P and P2A messaging is estimated to reach revenues worth of about US$ 17 Bn in 2019. IT & telecom industry, in addition, is also showcasing wide acceptance for premium A2P and P2A messaging services. While adoption in media & entertainment (gaming) remains modest, stakeholders are tapping white spaces in the retail and e-commerce vertical.