Report : Europe 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 5.6% CAGR, the Europe A2P SMS and CPaaS market is speculated to be worth US$ 27,592.30 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe A2P SMS and CPaaS market was valued at US$ 19,902.03 million in 2022 and is expected to reach US$ 27,592.30 million by 2028, registering an annual growth rate of 5.6% from 2022 to 2028. Growing demand for customer engagement usage to encourage the use of CPaaS and increasing adoption of rich communication services.
CPaaS has experienced considerable expansion. Initially, effective message services were the sole means through which channel brands would strongly wish to communicate with their customers. Businesses now require a wider range of assets to maintain value development. RCS Business Messaging, WhatsApp Business Platform, AI-powered chatbots, and A2P messaging are just a handful of the numerous CPaaS systems that allow businesses to interact with clients across various digital touchpoints. CPaaS has demonstrated that it is the best issue solution during these trying times by assisting businesses in preserving continuity and sustainability. Moreover, by enabling firms to add new services and provide a great user experience, CPaaS has helped them fulfil the increased client demand. While saving money and time, the solution enables firms to respond to changing demands swiftly. Additionally, incorporating CPaaS communication features into a brand's app speeds up and even makes this feasible, enabling the company to interact directly with customers without requiring a significant amount of development and expenditure. This enables businesses and brands to satisfy their business objectives without incurring the costs associated with establishing, maintaining, and updating separate systems. With automated API scalability, CPaaS may even assist businesses in advancing their business intelligence (BI) by providing real-time insights through an intuitive interface. 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 Europe A2P SMS and CPaaS market.
Based on component, the Europe A2P SMS and CPaaS market is bifurcated into solution and service. The solution segment held 80.4% market share in 2022, amassing US$ 15,996.89 million. It is projected to garner US$ 21,796.04 million by 2028 to expand at 5.3% CAGR during 2022–2028.
Based on channel, the Europe A2P SMS and CPaaS market is categorized into message, voice, email, webpush, and others. The message segment held 96.8% market share in 2022, amassing US$ 19,274.72 million. It is projected to garner US$ 25,529.35 million by 2028 to expand at 4.8% CAGR during 2022–2028. The message segment is further bifurcated into chat apps and SMS.
Based on enterprise size, the Europe A2P SMS and CPaaS market is categorized SMEs and large enterprises. The large enterprises segment held 65.8% market share in 2022, amassing US$ 13,102.34 million. It is projected to garner US$ 17,273.24 million by 2028 to expand at 4.7% CAGR during 2022–2028.
Based on industry, the Europe A2P SMS and CPaaS market is categorized into IT and telecom, BFSI, retail and ecommerce, healthcare, and others. The retail and ecommerce segment held 35.0% market share in 2022, amassing US$ 6,971.06 million. It is projected to garner US$ 10,312.25 million by 2028 to expand at 6.7% CAGR during 2022–2028
Based on country, the Europe A2P SMS and CPaaS market has been categorized into the Germany, France, Italy, UK, and Rest of Europe. Our regional analysis states that Rest of Europe captured 35.8% market share in 2022. It was assessed at US$ 7,118.96 million in 2022 and is likely to hit US$ 9,836.65 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.
Key players dominating the Europe 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 Aug 2021, Avaya and Microsoft Announced Integration of Microsoft Azure Communication Services with Avaya OneCloud™ CPaaS.
- In May 2020, Virgin Media Business And 8x8 Sign Strategic Partnership to Accelerate Cloud Communications Adoption Across The UK.
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