BFSI Segment to Dominate Asia-Pacific and South & Central America A2P SMS Market during 2021–2028

According to our new market research study on “Asia-Pacific and South & Central America A2P SMS Market Forecast to 2028 – COVID-19 Impact and Analysis,” the market is expected to reach US$ 38,156.43 million by 2028 from US$ 27,566.30 million in 2021; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the market along with the drivers and restraints pertaining to the market growth. BFSI is one of the most significant verticals that extensively use A2P SMS for communication purposes. The SMS is used in the vertical for money transfer, account balance & transaction notifications, fraudulent activity warnings, generating One Time Passwords (OTP), online security, and bill payments. In addition, balance alerts, and withdrawal and transactional notifications provide real time information to the customers. Considering its potential, banking and finance vertical is touted to be the major contributor of the growing A2P SMS market for nearly another half a decade. The increasing number of mobile subscribers would fuel the growth of the A2P SMS market in the coming years. Increased awareness and government encouragement regarding opening bank accounts and the benefits of using a bank for money safety are expected to drive customers subscribe to various banking services. Considering all the factors, the BFSI segment would lead the A2P SMS market during the forecast period.

The A2P SMS market is segmented into two major regions—Asia Pacific (APAC) and South America (SAM). Asia Pacific led the A2P SMS market and the market in the region is expected to witness high growth during the forecast period. The presence of large population, the robust economic development, and the increasing penetration of telecom infrastructure and digitalization of various sectors across APAC contribute to the growth of the market in APAC. China held the largest market share in APAC, followed by India. These two countries are currently experiencing a significant amount of digitalization and has the largest population than any other country.

Brazil held the highest market share in South America, followed by Argentina. The increasing rate of mobile phone subscribers coupled with the increasing tech investment is driving the digitalization in the region. Ecommerce, BFSI, retail, and hospitality are a few leading sectors that are significantly investing in digital technologies, which is subsequently driving the A2P SMS market growth in South America.

China, Brazil, and India are among the most affected countries due the COVID-19 outbreak. To adhere to the containment measures imposed by the regional government, the end users of A2P SMS market, such as BFSI, retail and e-commerce, media & entertainment, travel & hospitality, healthcare, and others, significantly invested in digital technologies. The A2P SMS was widely used by the above-mentioned industry players to provide updates to customers regarding their service offerings as well as tracking their products/services.

The A2P SMS market is segmented on the basis of application, vertical, and geography. By application, the market is segmented into promotional & marketing services, CRM—customer relationship management services, pushed content services, and others. Based on vertical, the market is segmented into BFSI, retail & e-commerce, media & entertainment, travel & hospitality, healthcare, government, and others. Geographically, the A2P SMS market is bifurcated into Asia Pacific and South America.

Anam Technologies; China Telecom Global Limited; Comviva; Coretalk; Infobip ltd.; Tata Communications Limited; Silverstreet; Twilio, Inc.; and Yunpian are among the key players profiled during this market study. In addition to these players, several other essential market players have been studied and analyzed to get a holistic view of the Asia-Pacific and South & Central America A2P SMS market.

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