Report : Asia Pacific A2P SMS and CPaaS Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Channel [Message (Chat Apps and SMS), Voice, Email, Webpush, and Others], Enterprise Size (SMEs and Large Enterprises), and Industry (IT and Telecom, BFSI, Retail and Ecommerce, Healthcare, and Others)
At 7.0% CAGR, the Asia Pacific A2P SMS and CPaaS market is speculated 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.
- Based on component, the Asia Pacific A2P SMS and CPaaS market is bifurcated into solution and service. The solution segment held 78.6% market share in 2022, amassing US$ 20,895.56 million. It is projected to garner US$ 32,953.96 million by 2028 to expand at 6.9% CAGR during 2022–2028.
- Based on channel, the Asia Pacific A2P SMS and CPaaS market is categorized into message, voice, email, webpush, and others. The message segment held 97.7% market share in 2022, amassing US$ 27,492.11 million. It is projected to garner US$ 40,316.48 million by 2028 to expand at 6.6% CAGR during 2022–2028. The message segment is further bifurcated into chat apps and SMS.
- Based on enterprise size, the Asia Pacific A2P SMS and CPaaS market is categorized SMEs and large enterprises. The large enterprises segment held 63.8% market share in 2022, amassing US$ 17,937.63 million. It is projected to garner US$ 26,129.70 million by 2028 to expand at 6.5% CAGR during 2022–2028.
- Based on industry, the Asia Pacific A2P SMS and CPaaS market is categorized into IT and telecom, BFSI, retail and ecommerce, healthcare, and others. The retail and ecommerce segment held 28.5% market share in 2022, amassing US$ 8,005.11 million. It is projected to garner US$ 13,158.14 million by 2028 to expand at 8.6% CAGR during 2022–2028.
- Based on country, the Asia Pacific A2P SMS and CPaaS market has been categorized into the China, Japan, India, Australia, South Korea, Pakistan, and Rest of Asia Pacific. Our regional analysis states that China captured 31.9% market share in 2022. It was assessed at US$ 8,976.73 million in 2022 and is likely to hit US$ 13,459.40 million by 2028, exhibiting a CAGR of 7.0% during the forecast period.
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.
- In July 2022, Symbio, Cisco partner to launch Webex Calling in Singapore.
- In May 2021, Customer Engagement Giant Twilio Acquired Indian CPaaS Startup ValueFirst.
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