Premium messaging is a ubiquitous and discreet technique of reaching everyone using a basic feature phone without any additional access to data services. Application-to-person (A2P) premium message is a type of SMS service sent from an application, particularly a web application, to a mobile subscriber. SMS can also be sent from mobile subscribers to web applications, which are known as person-to-application (P2A) messaging.
The general uses of premium messaging are marketing messages, alerts, notifications, voting, subscriptions, and flight alerts. SMS can reach any network globally and it is centrally invoiced; thus, it is mostly preferred over other content delivery mediums. Premium messaging services are widely used in financial and banking services institutions, e-commerce, tourism, healthcare, and entertainment, among others.
Growth in mobile marketing activities by marketers and application developers are contributing to the growth of the premium messaging Market. Marketers, application developers, and brands, together utilize SMS services to retain and expand their customer base, by updating their customers with campaign perks, location-based opportunities, first-hand/breaking news, and other important information.
The premium messaging market is segmented on the basis of tools, end user, and geography. Based on the tools, the premium messaging market is segmented into cloud API messaging platform and traditional & managed messaging services. By end user, the premium messaging market is segmented into banking and financial institutions, transport and travelling, healthcare, media and entertainment, retail, and others. Among the end users, the banking and financial institutions segment dominated the market in 2016 due to rapid shift of financial institutions towards premium messaging services. This was due to rapid proliferation of mobile banking and mobile payment services across the globe. Geographically, the premium messaging market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among regions, the market in LAMEA is projected to grow at the highest CAGR during the forecast period owing increase in the number of mobile device subscribers and rise in adoption of premium messaging services, especially for sales, marketing, and promotions in the region.
The prominent companies-operating in the premium messaging industry-adopted expansion, partnership, and acquisition as their major strategies for business growth and expansion. Key players identified in the premium messaging market include Verizon, Mblox, Twilio, Inc., AT&T, Beepsend, CLX Communications, Dialogue Communications Ltd., Infobip Ltd., Mahindra Comviva, and Tata Communications Ltd.
KEY BENEFITS
The study provides an in-depth analysis of the premium messaging industry along with current and future trends to elucidate the imminent investment pockets.
Information regarding key drivers, restraints, and opportunities along with their impact analysis on the premium messaging market is provided in the report.
Porter's Five Forces analysis illustrates the potency of buyers and suppliers operating in the premium messaging industry.
The quantitative analysis of the global market from 2017 to 2023 is provided in the report to determine the premium messaging market size and potential.
KEY MARKET SEGMENTS
The premium messaging market is segmented based on tools, end user, and geography.
BY TOOLS
Cloud API messaging platform
Traditional and managed messaging services
BY END USER
Banking and financial institutions
Transport and travelling
Healthcare
Media and entertainment
Retail
Others (government, educational institutions, manufacturing, energy & utilities sectors)
BY REGION
North America
U.S.
Canada
Mexico
Europe
France
UK
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS PROFILED IN THE REPORT
Verizon
Mblox
Twilio, Inc.
AT&T
Beepsend
CLX Communications
Dialogue Communications Ltd.
Infobip Ltd.
Mahindra Comviva
Tata Communications Ltd.
