Beepsend provides A2P insight in Global Market Trends Report
Beepsend was recently profiled in the report “Premium A2P and P2A Messaging Market – Global Forecast to 2021” as one of ten leading global vendors. We were pleased to contribute our market expertise to this report projecting growth and change in the messaging market over the next five years.
The report conducted by MarketsandMarkets categorizes the Global Premium Application to Person (A2P) and Person to Application (P2A) messaging market into segments by messaging platform, application, traffic, industry, and region. Application to Person (A2P) messaging is a service where a SMS message is sent from an application, generally a web application to a mobile subscriber; P2A is where a person sends a SMS to an application. A2P messaging helps a business to reach a significant number of current or potential customers rapidly and at a very low cost.
According to the report “the premium A2P and P2A messaging market size is estimated to grow from USD 55.49 billion in 2016 to USD 71.60 billion by 2021, at a CAGR of 5.23% from 2016 to 2021.” This favorable growth prediction is based on increased mobile marketing, growth in mobile payment and banking applications, ability to receive messages without data connection, and the rapid increase in the mobile subscriber base.
A2P messaging can be used across a variety of industries from government, banking, and IT to healthcare, travel and tourism, and retail and eCommerce. Some of the most common uses of A2P messaging are for notifications and alerts, authentication services such as 2 Factor Authentication and password resets, promotion and marketing, and voting and surveys. Per the report findings, retail and eCommerce is forecasted to hold the largest market share due to the increasing number of internet users, prevalence of smartphones and tech-savvy consumers.
A2P messaging is a powerful medium for businesses to connect with their mobile consumers whenever and wherever. With minimal initial outlay, businesses can better reach customers, offer value adding services and enhance engagement. The technology is already at hand…contact Beepsend today to discuss how A2P messaging can help your business grow with the times.