
Published On: Nov 2022
Published On: Nov 2022
At 7.0% CAGR, the Asia Pacific A2P SMS and CPaaS market is projected to be worth US$ 42,753.55 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific A2P SMS and CPaaS market was valued at US$ 28,134.97 million in 2022 and is expected to reach US$ 42,753.55 million by 2028, registering an annual growth rate of 7.0% from 2022 to 2028. Cumulative demand for customer engagement usage to encourage the use of CPaaS and upward adoption of rich communication services.
Increased internet usage, increased reliance on cutting-edge APIs, increased adoption of rich communication services (RCS), and widespread use of OTT messaging platforms by businesses across the nation are all predicted to contribute to the growth of CPaaS. With more individuals utilizing smartphones, text messaging has become a very popular form of communication. It is possible to improve such an experience for its clients by implementing RCS solutions. The subscriber base grows because of new technological developments like long-term voice-over evolution. As a result, businesses are using RCS solutions for digital product marketing to reach a wide audience. The CaaS industry is expected to be driven, in addition to the advantages of individual messaging, by businesses using rich communication services for Application to Person (A2P) messaging. Companies are investing more money on SMS marketing to reach a big client base quickly. SMSs have the highest Click Through Rate (CT) of any marketing medium and a broad audience. The RCS corporate messaging platform is being created to take the role of the current A2P messaging systems, hence promoting the adoption of rich communication services in APAC. This is expected to drive the market during the forecast period.
On the contrary, expanding security concerns for cloud based CPaaS hurdles the growth of Asia Pacific A2P SMS and CPaaS market.
Key players dominating the Asia Pacific A2P SMS and CPaaS market are Vonage; 8X8, INC.; Avaya Inc.; IntelePeer Cloud Communications LLC.; MessageBird; Plivo Inc.; Cisco Systems, Inc.; TWILIO INC.; Voximplant; and Wazo Coummunication Inc. among others.
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