A2P Messaging Set for Explosive Growth, Achieving USD 79.9 Billion by 2030

NEW YORK - July 22, 2024 - PRLog -- The Application-to-Person (A2P) messaging market is projected to attain a value of USD 79.9 billion by 2030, growing at a rate of 3% by the decade's end. In 2022, the platform category held approximately 60% of the market share. This growth is driven by the diverse applications of these platforms across various industries, including travel & tourism, media & entertainment, banking, financial services, and insurance (BFSI), and healthcare.

For mid-sized companies, A2P messaging is commonly used to describe various products, promote offerings, and provide updates. It benefits both sides in terms of novel product engagement and helps enterprises retain loyal customers. From support to retail, these platforms play a significant role in multiple sectors.

The industry is led by cloud-based solutions, thanks to their ability to facilitate effective, unified marketing campaigns that enhance customer communication. Cloud platforms integrate SMS, MMS, phone, and other solutions to offer a secure mobile messaging experience. They also capitalize on the flexibility and scalability of cloud computing, enabling enterprises to scale their messaging capabilities up or down based on demand without significant infrastructure investments. Cloud platforms dynamically allocate resources to manage varying message volumes, ensuring smooth message delivery.

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Promotional campaigns are expected to witness the fastest growth by the decade's end, largely because A2P marketing allows businesses to send promotional discounts and offers. By providing targeted recommendations based on customer interests, businesses can reach their audiences more effectively and create tailored experiences.

The Asia-Pacific (APAC) region holds the largest revenue share, according to a report by market research firm P&S Intelligence. The growth of e-commerce and mobile financial services, the rising demand for notifications and alerts, regional enterprise expansion, technological advancements, infrastructure development, and the affordability and reach of A2P communications are key factors driving the industry. These elements collectively promote the use of A2P messaging services, enabling businesses to interact with clients efficiently, provide real-time updates, and support secure transactions.

The national segment leads the industry. During the pandemic, store closures and business disruptions impacted retail marketing, but the increase in transactions, notifications, and alerts resulted in a surge in message traffic, driven by the growth of the e-commerce sector.