A2P Messaging Market size was valued at USD 63.4 billion in 2021 and is expected to reach a value of USD 80.7 billion by 2028, growing at a CAGR of 3.6% during the forecast period 2022 to 2028. The global market provides a detailed overview of the A2P Messaging Market, which can be segmented by component, deployment mode, application, and vertical. By Component, the A2P messaging market has been segmented into Platform and A2P services. The Platform segment is likely to be the largest and fastest-growing in various component types. By Deployment Mode, the market has been segmented into On-premises, Cloud. The cloud segment accounted for the highest revenue share in the market. By Application, the A2P messaging market has been segmented into Authentication Services, Promotional and Marketing Services, Customer Relationship Management Services, Pushed Content Services, Interactive Messages, and Others. The Authentication Services segment is expected to gain maximum revenue share during the forecast period. Based on Vertical, the market is segmented into Banking, Financial Services and Insurance, Retail and eCommerce, Hyperlocal Businesses, Healthcare, Travel and Hospitality, and Others. According to precision business insights, the Banking, Financial Services, and Insurance segment is predicted to register the fastest growth rate during the forecast period.
In November 2020, Twilio acquired Segment, the market-leading customer data platform, at USD 3.2 billion. This acquisition helps developers and companies access the world’s leading cloud communications platform to effectively manage customer communications, including SMS, Messaging, Voice, Video, Email, and Internet of Things (IoT).