The global A2P SMS market will continue soaring until 2027 although the COVID-19 outbreak hits the world economy, the latest survey on A2P revealed. The market will attain US$86.3 billion by that year.
On Dec. 7, 2020, Reportlinker.com released “Global A2P SMS Industry” which examined the condition of the A2P market for this year and seven years ahead. The A2P SMS market will reach US$65.7 billion in 2020. The market will grow at a Compound Annual Growth Rate (CAGR) of 4% between 2020 and 2027.
Country and Service Segment in More Details
The report especially brought up the results of the global A2P SMS market in the US and China markets, the two economic superpowers. The A2P SMS market in the US will reach US$19.3 billion in 2020. On the other hand, the same market in China will attain US$15.4 billion in 2027. The CAGR of the analyzed period will be 3.8%. Other important markets are Japan and Canada which will grow at 3.7% and 3.3% CAGR, respectively. From the European market, Germany will grow at 3.9% CAGR.
The report also broke down several segments that mostly use the A2P SMS platform. For Pushed Content Services, the survey predicted it will book a 3.5% CAGR and attain US$23 billion at the end of 2027.
For the Customer Relationship Management Services sector, the survey projected the growth will be at 6% CAGR. The data included pandemic impacts on the international economy.
The A2P SMS mostly influences the promotional campaign sector. The survey predicted the Promotional Campaigns segment to grow at 3.7%. The statistic will be propelled by the segments in the US, Canada, Japan, China, and Europe.
The markets in the countries will enhance the combined market size of the A2P SMS of US$8 billion in 2020. By the end of 2027, the market will have to attain US$10.4 billion in the countries.
The global A2P SMS market will see the fastest performance in Asia-Pacific. China, Australia, India, and South Korea will drive the market to reach US$9.7 billion in 2027. Get various information, tips, and trends about A2P and SMS marketing campaigns in our blog, here. Should your company require services on A2P, hit the Contact button.
Also read: Bulk SMS Messaging for Enhancing Customer Relationship Management