Application-to-Person SMS and API Effective & Cheaper mode for Undertaking Business Communications

The application-to-person (A2P) SMS and API market report provides an in-depth analysis of the global A2P SMS API market for the period 2014–2024, wherein 2015 is the base year and the years from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the A2P SMS and API market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during the forecast period. As, the API market is directly linked with the A2P SMS, the estimates for the A2P SMS market based on the application is also covered in report.

The study provides a holistic perspective on market growth in terms of revenue estimates (in US$ Mn), across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America (LATAM). The report provides cross-sectional analysis of the global A2P SMS API market in terms of market estimates and projections for all the segments across different geographic regions. Further, the report also covers profiling of major players, their growth strategies, their market positioning, and their various recent developments, and includes market positioning analysis of key players operating in the A2P SMS API market.

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Traditional API to Retain Dominance but Cloud-based Applications to Provide Most Promising Returns

Owing to deployment across a large number of industries, the technology behind traditional A2P SMS APIs are presently the leading contributor to the global A2P SMS and API market revenues. The segment accounted for 55.3% share of the market’s overall revenues in 2015 and is expected to retain its dominance from 2016 through 2024 as well, but lose prominence to the cloud API segment. The cloud API segment is expected to expand at a 4.3% CAGR over the said period, during which the segment of traditional API is expected to rise at a relatively less 3.9% CAGR.

Asia Pacific to Continue to Lead Global A2P SMS and API Market

Asia Pacific is presently the largest revenue contributor of the global A2P SMS and API market and is expected to expand at the fastest pace among key regional markets as well. The region’s prominence in the global market is owing to factors such as the rising penetration of smartphones, an expanding e-commerce industry, and rising online transactions. In the region, the technology segment of cloud API is expected to expand at a faster pace as compared to the traditional API segment. North America, presently the second-largest contributor to market’s revenues, is also expected to retain its position in the global market in the next few years as well.

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With smartphones becoming a ubiquitous product, industries such as tourism, retail, banking, financial services, and insurance (BFSI), healthcare, entertainment, and media are surging ahead to reach out to the vast base of mobile and smartphone users through A2P SMSs. By the end of 2014, half the world’s population had at least one mobile subscription, totaling to nearly 3.6 bn unique mobile subscribers. The numbers are expected to increase by over 1 bn by 2020 globally. Transparency Market Research analysts state that the factor is expected to have a substantial impact on the overall development of the A2P SMS and API market in the next few years.

The global A2P SMS API market is expected to expand at a 4.1% CAGR over the period between 2016 and 2024. The market, which held an opportunity worth US$171.9 mn in 2015, is expected to rise to US$245.9 mn by 2024. The global market for A2P SMS is expected to rise at a 4.9% CAGR over the said period and rise from a valuation of US$37.84 bn in 2015 to US$58.01 bn by 2024.

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