The global premium messaging market size reached US$ 77.1 Billion in 2023. Looking forward, the market is expected to reach US$ 116.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2023-2032.
Premium messaging refers to a service wherein Short Message Service (SMS) is sent using a unique short code. Its subscription requires an additional fee compared to the standard messaging rate, which is billed into the user’s mobile credits. It gives access to various information and services, including routes, quizzes, music, translations, ringtones, phone numbers, search results, contest games, chat sessions, background images, and stock exchange prices, using speed dial numbers. Nowadays, these services operate on-demand and at a predetermined frequency, such as flight delays and sports results.
It also provides the benefits of weather alerts, transport updates, and reverse charge phone calls. Apart from this, the rising prevalence of medical conditions is expanding the use of premium messaging in the healthcare industry for automatic reminders about upcoming appointments and hassle-free communication. Furthermore, it is employed in the banking, financial services, and insurance (BFSI) sector across the globe to enhance internal and external communications with staff, automate back-end IT processes, and improve customer relations and services.
2. What is the expected growth rate of the global premium messaging market during 2024-2032?
3. What are the key factors driving the global premium messaging market?
4. What has been the impact of COVID-19 on the global premium messaging market?
5. What is the breakup of the global premium messaging market based on the type?
6. What is the breakup of the global premium messaging market based on the tools?
7. What is the breakup of the global premium messaging market based on the end user?
8. What are the key regions in the global premium messaging market?
9. Who are the key players/companies in the global premium messaging market?
Premium messaging refers to a service wherein Short Message Service (SMS) is sent using a unique short code. Its subscription requires an additional fee compared to the standard messaging rate, which is billed into the user’s mobile credits. It gives access to various information and services, including routes, quizzes, music, translations, ringtones, phone numbers, search results, contest games, chat sessions, background images, and stock exchange prices, using speed dial numbers. Nowadays, these services operate on-demand and at a predetermined frequency, such as flight delays and sports results.
Premium Messaging Market Trends:
A significant increase in the number of mobile subscribers, along with the surging adoption of two-factor authentication, represents one of the key factors positively influencing the market. Moreover, enterprises are utilizing cloud application programming interface (API) with embedded contextual communications for applications, such as field service software and customer relationship management (CRM). This is aiding in registering users, enhancing customer interaction, and sending status updates on pending services globally. In addition, premium messaging can be used for charity and voting activities. For instance, subscribers can easily send an SMS message to donate funds and help people in need during a natural disaster.It also provides the benefits of weather alerts, transport updates, and reverse charge phone calls. Apart from this, the rising prevalence of medical conditions is expanding the use of premium messaging in the healthcare industry for automatic reminders about upcoming appointments and hassle-free communication. Furthermore, it is employed in the banking, financial services, and insurance (BFSI) sector across the globe to enhance internal and external communications with staff, automate back-end IT processes, and improve customer relations and services.
Key Market Segmentation:
This report provides an analysis of the key trends in each sub-segment of the global premium messaging market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, tools and end user.Breakup by Type:
- A2P Messaging
- P2A Messaging
Breakup by Tools:
- Cloud API Messaging Platform
- Traditional and Managed Messaging Services
Breakup by End User:
- BFSI
- Transport and Travelling
- Healthcare
- Media and Entertainment
- Retail and E-Commerce
- IT and Telecom
- Government
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AMD Telecom S.A., AT&T Inc., Comviva Technologies Limited (Tech Mahindra Limted), Infobip Ltd., Mavenir, Sinch, Syniverse Technologies LLC, Tata Communications Limited, Twilio Inc., Tyntec and Verizon Communications Inc.Key Questions Answered in This Report
1. How big is the global premium messaging market?2. What is the expected growth rate of the global premium messaging market during 2024-2032?
3. What are the key factors driving the global premium messaging market?
4. What has been the impact of COVID-19 on the global premium messaging market?
5. What is the breakup of the global premium messaging market based on the type?
6. What is the breakup of the global premium messaging market based on the tools?
7. What is the breakup of the global premium messaging market based on the end user?
8. What are the key regions in the global premium messaging market?
9. Who are the key players/companies in the global premium messaging market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Premium Messaging Market
6 Market Breakup by Type
7 Market Breakup by Tools
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- AMD Telecom S.A.
- AT&T Inc.
- Comviva Technologies Limited (Tech Mahindra Limted)
- Infobip Ltd.
- Mavenir
- Sinch
- Syniverse Technologies LLC
- Tata Communications Limited
- Twilio Inc.
- Tyntec
- Verizon Communications Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | September 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 77.1 Billion |
| Forecasted Market Value ( USD | $ 116.4 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
