BANGALORE, India, Oct. 12, 2020 /PRNewswire/ -- According to the Latest Market Research Report "A2P & P2A Messaging Market by Type (A2P, P2A), by Traffic (Multi-Country, National), by Messaging Platform (Cloud API Messaging Platform, Traditional & Managed Messaging Platform), by Industry (Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Education, Consumer Goods & Retail, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality), by Application (Authentication Services, Customer Relationship Management Services, Inquiry & Search Related Services, Interactive Messages, Notifications & Alerts, Promotional & Marketing Services, Pushed Content Services, Voting & Entertainment), and Region – Global Forecast to 2025", published on Valuates Reports.
Major factors driving the growth of Application to Person (A2P) & Person to Application (P2A) Messaging Market size include increased mobile marketing by advertisers and application developers, innovations in mobile payment and mobile banking apps, the ability to access messages without internet connexion, and the rapid growth in the mobile user base.
The report provides an exhaustive assessment of A2P & P2A Messaging Market size, shares, strategies, products, and manufacturing capabilities of the leading players. It also offers in-depth information about lucrative emerging markets, new product launches, untapped geographies, recent developments, and investments.
Interaction and engagement with consumers have become important for businesses in the current market scenario. This, in turn, has boosted the growth of the A2P & P2A Messaging Market size.
Due to the benefits offered, such as scalability and security for building a unique API, the adoption of Cloud API is expected to drive the growth of A2P & P2A Messaging Market size during the forecast period. Cloud API offers an interface for companies and back-end facilities to communicate. This platform also permits two-way communication in booking, banking, notification, confirmation, and advertisement.
Consumers nowadays often prefer personalized and brief communication due to their fast-paced Lifestyle. The A2P and P2A messaging applications are perfect for both personalized and brief communication experience. This feature is expected to fuel the growth of A2P and P2A messaging market size.
North America is expected to hold the largest A2P and P2A messaging market share.
This rapid growth is attributed to the widespread adoption of services across numerous enterprises over the forecast timeframe. Stakeholders present in the A2P and P2A messaging business ecosystem in this region benefit from the growing developments in regulations and technologies.
Premium Messaging Market size was valued at USD 54,579 Million in 2016, and is projected to reach at USD 78,349 Million by 2023, with a CAGR of 5.4% during the forecast period.
Increase in mobile subscriber base; focus on enhancing customer interaction, and surging adoption of A2P (two-factor authentication) are some of the major driving factors expected to increase the Premium Messaging Market size's growth.
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