U.S (New York) – New research study titled “Premium Messaging Market ” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Premium messaging is a ubiquitous and discreet technique of reaching everyone using a basic feature phone without any additional access to data services. Application-to-person (A2P) premium message is a type of SMS service sent from an application, particularly a web application, to a mobile subscriber. SMS can also be sent from mobile subscribers to web applications, which are known as person-to-application (P2A) messaging.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The general uses of premium messaging are marketing messages, alerts, notifications, voting, subscriptions, and flight alerts. SMS can reach any network globally and it is centrally invoiced; thus, it is mostly preferred over other content delivery mediums. Premium messaging services are widely used in financial and banking services institutions, e-commerce, tourism, healthcare, and entertainment, among others. Growth in mobile marketing activities by marketers and application developers are contributing to the growth of the premium messaging Market. Marketers, application developers, and brands, together utilize SMS services to retain and expand their customer base, by updating their customers with campaign perks, location-based opportunities, first-hand/breaking news, and other important information.
The premium messaging market is segmented on the basis of tools, end user, and geography. Based on the tools, the premium messaging market is segmented into cloud API messaging platform and traditional & managed messaging services. By end user, the premium messaging market is segmented into banking and financial institutions, transport and travelling, healthcare, media and entertainment, retail, and others. Among the end users, the banking and financial institutions segment dominated the market in 2016 due to rapid shift of financial institutions towards premium messaging services.
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This was due to rapid proliferation of mobile banking and mobile payment services across the globe. Geographically, the premium messaging market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among regions, the market in LAMEA is projected to grow at the highest CAGR during the forecast period owing increase in the number of mobile device subscribers and rise in adoption of premium messaging services, especially for sales, marketing, and promotions in the region.
KEY BENEFITS
The study provides an in-depth analysis of the premium messaging industry along with current and future trends to elucidate the imminent investment pockets.
Information regarding key drivers, restraints, and opportunities along with their impact analysis on the premium messaging market is provided in the report.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the premium messaging industry.
The quantitative analysis of the global market from 2017 to 2023 is provided in the report to determine the premium messaging market size and potential.
KEY MARKET PLAYERS PROFILED IN THE REPORT
Verizon
Mblox
Twilio, Inc.
AT&T
Beepsend
CLX Communications
Dialogue Communications Ltd.
Infobip Ltd.
Mahindra Comviva
Tata Communications Ltd.
KEY MARKET SEGMENTS
The premium messaging market is segmented based on tools, end user, and geography.
BY TOOLS
Cloud API messaging platform
Traditional and managed messaging services
BY END USER
Banking and financial institutions
Transport and travelling
Healthcare
Media and entertainment
Retail
Others (government, educational institutions, manufacturing, energy & utilities sectors)
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BY REGION
North America
U.S.
Canada
Mexico
Europe
France
UK
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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