SMS Market - Forecast(2024 - 2030)

Report Code: ITR 22416 Report Format: PDF + Excel

SMS Market Overview

SMS Market is analysed to grow at a CAGR of 7.9% during the forecast 2021-2026 to reach $60.3 billion by 2026. SMS stands for Short Message Service which is typically a text messaging service and a component of most telephone, Internet and mobile device systems. It uses standardized communication protocols that let mobile devices exchange short text messages. An intermediary service can facilitate a text-to-voice conversion to be sent to landlines. SMS can be of many types such as Application generated, Personal or Human generated and others and used for different applications worldwide. Application to Person (A2P) messaging is the powerful medium for businesses or enterprises in the communication market space to connect with mobile consumers. Businesses use text messaging to notify the users about updates for improving the user experience, which results in revenue growth of the company. SMS are used for various applications such as outbound marketing, offering promotional campaigns and various transactional messages to build better customer relationships across a wide range of industries, such as BFSI, retail & e-commerce, travel & tourism, marketing, local businesses, healthcare and many others. These wide range of user applications and informative applications tend to enhance the global SMS Market size in the forecast period.  

Report Coverage

The report: “SMS Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the SMS Market.
By Type: Application generated, User generated and Others.
By Deployment Type: On-Premises and Cloud.
By Range: National, Multi-National and Worldwide.
By Applications: Authentication & Verification, Promotion & Marketing, Customer Relationship Management (CRM), Information Broadcasting, Health Notifications and Others.
By End-Use Industry: BFSI, Telecommunication, Healthcare, Government bodies, Academic Institute, Enterprise, Travel & Tourism and Others.
By Geography: North America(U.S., Canada and Mexico); Europe(U.K., Germany, Italy, France, Spain, Russia, Rest of Europe); APAC (China, Japan, South Korea, India, Australia, Rest of APAC); South America(Brazil, Argentina, Rest of Americas); RoW (Middle East & Africa).

Key Takeaways

  • Growing number of mobile subscribers and rising demand of user identification and verification systems in global market is analysed to significantly drive the market during the forecast period 2021-2026.
  • User generated is analysed to hold significant share in 2020 owing to the increasing number of mobile subscribers across the globe. This tends to bring major growth in the number of SMS users in the global level further propelling the SMS Market growth.
  • Authentication is expected to hold the highest market share in the forecast period owing to rise in the demand of security over small enterprises, large enterprise and various government generated programs.
  • Asia-Pacific is analysed to grow at highest CAGR during the forecast period owing to the availability of largest population as compared to other regions. This high number of population further boosts the number of mobile subscribers which is major growing factor of SMS Market.

Global SMS Market Share, By Region, 2020 (%)

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SMS Market Segment Analysis - By Type

By Type, the SMS Market Report is segmented into Application generated, User generated and Others. User generated is analysed to hold highest share and grow at highest CAGR of 7.9% during the forecast period 2021-2026 owing to the increasing number of mobile subscribers across the globe. User generated SMS are typically those services which are used by the customers to communicate and share information with the help of text messages from one source to other source. With the advancement in SMS services offered by the mobile operators, now users can communicate with SMS services from one country to other. Various schemes are now being provided to the customers such as unlimited SMS for a period of time which has brought a major boost in the market growth of SMS Market in global level. On the other hand, Application generated SMS are typically used for authentication and verification of users and for various information broadcasting applications.  

SMS Market Segment Analysis - By Applications

By Applications, the SMS Market Report is segmented into Authentication, Promotion & Marketing, Customer Relationship Management (CRM), Information Broadcasting, Health Notifications and Others. Authentication segment is analysed to grow at highest CAGR of 8.2% during the forecast period 2021-2026. With the increasing demand of providing security to customer personalized data over small and large enterprise sector as well as personal level, the need to authenticate and verify the customer is genuine or not, SMS services are used in various end use industries. Rise in advancement of technologies, users are now provided with two-step verification system with the help of SMS. Moreover, different BFSI industries uses One-time password (OTP) service for instant verification of the customer. These developments has brought a significant growth in the Authentication & Verification application of SMS Market in global level.

SMS Market Segment Analysis – By Geography

Asia-Pacific is analysed to be the major region with a share of 30% in 2020 for the SMS Market owing to the presence of highly populated countries such as China, India, Japan and Others. With the availability of large number of population, the number of mobile subscribers is of major factor for the growth of SMS Market in this region. Moreover, high population density further increases the number of bank users which further enhanced the application of authentication and verification through SMS services. Moreover, the SMS services used for the promotion & marketing of various products or services through SMS is expected to bring significant growth in the demand of SMS Market in this region. However, North America region is analysed to grow at highest rate during the forecast period 2021-2026 majorly attributed to the presence of large enterprises and various Cloud based SMS providers which will drive the market growth of SMS Market in the forecast period.

SMS Market Drivers

Growing number of Mobile subscribers:

The growing mobile subscribers base has brought a significant growth in the SMS market. As per the GSMA Mobile economy 2021 report, there were approximately 5.2 billion unique mobile subscribers in 2020 and is expected to reach 5.7 billion by the end of 2025 with the CAGR of 1.8%, wherein smartphones accounted for 60% of the connections, and it is expected that the number would reach approximately six billion in 2026, with an 80% share of smartphones. With the increase in the mobile subscriber base, enterprises, MNOs, and application developers have the opportunity to connect directly with their customers more efficiently across the globe. As it would be expected, customers with mobile phones frequently use messaging to communicate, this enables enterprises to send notifications, alerts, verifications, and promotional messages to their customers using SMS features. These features tend to drive the SMS Market growth in the forecast period.

Rising demand of security and Promotional messages:

Rising demand of security for the customers to overpower hack of bank accounts, piracy of transaction details and personalized data is a major driving factor for the growth of SMS market. Leading organizations of the BFSI Industry is providing highly secured data protection to their customers by using SMS features for verification and authentication of user. Various features such as One-time password (OTP) and sharing of important links through SMS to registered mobile subscriber has brought a two-step verification facility to the customers. Moreover, marketing sector has provided a boom in the growth of SMS market in global level. Providing all the updates and promoting their products to the customers using SMS features to increase sale and revenue of their company is another factor which is used in recent years which has driven the SMS Market growth in global market. 

SMS Market Challenges

Stringent government regulations and policies:

Messaging is the simple, easiest, most commonly used, and fastest communication channel for any enterprise or user to address in a small or larger scale. It is most commonly used in various industries, such as banking, finance, retail, healthcare, and travel and hospitality. Owing to the personal nature of text messages, and the context transmitted in them, it is highly regulated by government bodies all over the globe. Government regulatory bodies are more concerned about addressing customer issues related to the security provided by enterprises and MNOs in the Application to person messaging space. Regulatory laws restrict enterprises to send bulk SMS to their customers. There are several restrictions placed on enterprises, SMS aggregators, and MNOs over sending messages to the customer in terms of the limited number of messages per day, particular time slot, and do-not-disturb activation by user. Industry governing bodies such as Cellular Telecommunications and Internet Association (CTIA), National Regulatory Authorities (NRAs), TRAI, and Federal Communications Commission (FCC) have implemented complex rules and regulations on the use of text messaging. These strict government regulations and policies will bring major challenges in the SMS Market growth in the forecast period.

SMS Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the SMS Market. The SMS top 10 companies includes Teckst, SendPulse, Teradata, Mozeo, LLC, FirstHive, Target Everyone, Avochato, SimplyCast, TextMagic, CallHub, Mobile Text Alerts, Twilio, Cytech Ltd. among others.

Acquisitions/Technology Launches/Partnerships

In November 2020, Twilio acquired Segment, the market-leading customer data platform, at USD 3.2 billion. This acquisition helps developers and companies to access the world’s leading cloud communications platform to effectively manage customer communications, including SMS, Messaging, Voice, Video, Email, and Internet of Things (IoT). 

Relevant Report Titles:

A2P SMS Market – Forecast (2021-2026)
Report Code: ITR 46772

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1. SMS Market Overview
    1.1 Definitions and Scope
2. SMS Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Service Type
    2.3 Key Trends segmented by Geography
3. SMS Market
    3.1 Comparative Analysis
        3.1.1 Product/Service Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis
4. SMS Market– By Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital Funding
5. SMS Market– By Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Framework
    5.2 Customer Analysis
    5.3 Case Studies
    5.4 Ease of Doing Business Index
6. SMS Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Network of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Network of substitutes
7. SMS Market– By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
    7.4 Suppliers and Distributors
8. SMS Market– By Type
    8.1 Application generated
    8.2 User-generated
    8.3 Others
9. SMS Market– By Deployment Type
    9.1 On-Premises
    9.2 Cloud
10. SMS Market– By Range
    10.1 National
    10.2 Multi-National
    10.3 Worldwide
11. SMS Market– By Applications
    11.1 Authentication & Verification
    11.2 Promotion & Marketing
    11.3 Customer Relationship Management (CRM)
    11.4 Information Broadcasting
    11.5 Health notifications
    11.6 Others
12. SMS Market- By End-Use Industry
    12.1 BFSI
    12.2 Telecommunication
    12.3 Healthcare
    12.4 Government Bodies
    12.5 Academic Institute
    12.6 Enterprise
    12.7 Travel & Tourism
    12.8 Others
13. SMS Market– By Region
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 South America
        13.2.1 Brazil
        13.2.2 Argentina
        13.2.3 Rest of South America
    13.3 Europe
        13.3.1 Germany
        13.3.2 France
        13.3.3 UK
        13.3.4 Italy
        13.3.5 Spain
        13.3.6 Russia
        13.3.7 Rest of Europe
    13.4 APAC
        13.4.1 China
        13.4.2 Japan
        13.4.3 South Korea
        13.4.4 India
        13.4.5 Australia
        13.4.6 Rest of APAC
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. SMS Market- Industry Landscape Analysis (Premium)
    14.1 Market Share by Region
    14.2 Market Share by Industry
    14.3 Market Share by Type
15. SMS Market- Key Companies by Country (Premium)
16. SMS Market Entropy
    16.1 New Product Launches
    16.2 M&As, Collaborations, JVs and Partnerships
17. SMS Market- Company Analysis
    17.1 Teckst
    17.2 SendPulse
    17.3 Teradata
    17.4 Mozeo
    17.5 LLC
    17.6 FirstHive
    17.7 Target Everyone
    17.8 Avochato
    17.9 SimplyCast
    17.10 Twilio
    17.11 Cytech Ltd 

LIST OF TABLES

1.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
1.1 OCCASIONS Market 2019-2024 ($M) - Global Industry Research
1.2 SPECIAL OFFERS Market 2019-2024 ($M) - Global Industry Research
1.3 CELEBRATIONS Market 2019-2024 ($M) - Global Industry Research
2.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
2.1 CLOUD Market 2019-2024 ($M) - Global Industry Research
2.2 ON-PREMISE Market 2019-2024 ($M) - Global Industry Research
3.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
3.1 BFSI Market 2019-2024 ($M) - Global Industry Research
3.2 TRANSPORTATION Market 2019-2024 ($M) - Global Industry Research
3.3 RETAIL Market 2019-2024 ($M) - Global Industry Research
3.4 TELECOM IT Market 2019-2024 ($M) - Global Industry Research
3.5 HEALTHCARE Market 2019-2024 ($M) - Global Industry Research
4.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 (Volume/Units)
4.1 OCCASIONS Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 SPECIAL OFFERS Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 CELEBRATIONS Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 (Volume/Units)
5.1 CLOUD Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 ON-PREMISE Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 (Volume/Units)
6.1 BFSI Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 TRANSPORTATION Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 RETAIL Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 TELECOM IT Market 2019-2024 (Volume/Units) - Global Industry Research
6.5 HEALTHCARE Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
7.1 OCCASIONS Market 2019-2024 ($M) - Regional Industry Research
7.2 SPECIAL OFFERS Market 2019-2024 ($M) - Regional Industry Research
7.3 CELEBRATIONS Market 2019-2024 ($M) - Regional Industry Research
8.North America GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
8.1 CLOUD Market 2019-2024 ($M) - Regional Industry Research
8.2 ON-PREMISE Market 2019-2024 ($M) - Regional Industry Research
9.North America GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
9.1 BFSI Market 2019-2024 ($M) - Regional Industry Research
9.2 TRANSPORTATION Market 2019-2024 ($M) - Regional Industry Research
9.3 RETAIL Market 2019-2024 ($M) - Regional Industry Research
9.4 TELECOM IT Market 2019-2024 ($M) - Regional Industry Research
9.5 HEALTHCARE Market 2019-2024 ($M) - Regional Industry Research
10.South America GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
10.1 OCCASIONS Market 2019-2024 ($M) - Regional Industry Research
10.2 SPECIAL OFFERS Market 2019-2024 ($M) - Regional Industry Research
10.3 CELEBRATIONS Market 2019-2024 ($M) - Regional Industry Research
11.South America GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
11.1 CLOUD Market 2019-2024 ($M) - Regional Industry Research
11.2 ON-PREMISE Market 2019-2024 ($M) - Regional Industry Research
12.South America GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
12.1 BFSI Market 2019-2024 ($M) - Regional Industry Research
12.2 TRANSPORTATION Market 2019-2024 ($M) - Regional Industry Research
12.3 RETAIL Market 2019-2024 ($M) - Regional Industry Research
12.4 TELECOM IT Market 2019-2024 ($M) - Regional Industry Research
12.5 HEALTHCARE Market 2019-2024 ($M) - Regional Industry Research
13.Europe GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
13.1 OCCASIONS Market 2019-2024 ($M) - Regional Industry Research
13.2 SPECIAL OFFERS Market 2019-2024 ($M) - Regional Industry Research
13.3 CELEBRATIONS Market 2019-2024 ($M) - Regional Industry Research
14.Europe GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
14.1 CLOUD Market 2019-2024 ($M) - Regional Industry Research
14.2 ON-PREMISE Market 2019-2024 ($M) - Regional Industry Research
15.Europe GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
15.1 BFSI Market 2019-2024 ($M) - Regional Industry Research
15.2 TRANSPORTATION Market 2019-2024 ($M) - Regional Industry Research
15.3 RETAIL Market 2019-2024 ($M) - Regional Industry Research
15.4 TELECOM IT Market 2019-2024 ($M) - Regional Industry Research
15.5 HEALTHCARE Market 2019-2024 ($M) - Regional Industry Research
16.APAC GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
16.1 OCCASIONS Market 2019-2024 ($M) - Regional Industry Research
16.2 SPECIAL OFFERS Market 2019-2024 ($M) - Regional Industry Research
16.3 CELEBRATIONS Market 2019-2024 ($M) - Regional Industry Research
17.APAC GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
17.1 CLOUD Market 2019-2024 ($M) - Regional Industry Research
17.2 ON-PREMISE Market 2019-2024 ($M) - Regional Industry Research
18.APAC GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
18.1 BFSI Market 2019-2024 ($M) - Regional Industry Research
18.2 TRANSPORTATION Market 2019-2024 ($M) - Regional Industry Research
18.3 RETAIL Market 2019-2024 ($M) - Regional Industry Research
18.4 TELECOM IT Market 2019-2024 ($M) - Regional Industry Research
18.5 HEALTHCARE Market 2019-2024 ($M) - Regional Industry Research
19.MENA GLOBAL SMS MARKETING SOFTWARE MARKET, BY MARKETING CAMPAIGN Market 2019-2024 ($M)
19.1 OCCASIONS Market 2019-2024 ($M) - Regional Industry Research
19.2 SPECIAL OFFERS Market 2019-2024 ($M) - Regional Industry Research
19.3 CELEBRATIONS Market 2019-2024 ($M) - Regional Industry Research
20.MENA GLOBAL SMS MARKETING SOFTWARE MARKET, BY DEPLOYMENT MODEL Market 2019-2024 ($M)
20.1 CLOUD Market 2019-2024 ($M) - Regional Industry Research
20.2 ON-PREMISE Market 2019-2024 ($M) - Regional Industry Research
21.MENA GLOBAL SMS MARKETING SOFTWARE MARKET, BY INDUSTRY VERTICAL Market 2019-2024 ($M)
21.1 BFSI Market 2019-2024 ($M) - Regional Industry Research
21.2 TRANSPORTATION Market 2019-2024 ($M) - Regional Industry Research
21.3 RETAIL Market 2019-2024 ($M) - Regional Industry Research
21.4 TELECOM IT Market 2019-2024 ($M) - Regional Industry Research
21.5 HEALTHCARE Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US SMS Market Revenue, 2019-2024 ($M)
2.Canada SMS Market Revenue, 2019-2024 ($M)
3.Mexico SMS Market Revenue, 2019-2024 ($M)
4.Brazil SMS Market Revenue, 2019-2024 ($M)
5.Argentina SMS Market Revenue, 2019-2024 ($M)
6.Peru SMS Market Revenue, 2019-2024 ($M)
7.Colombia SMS Market Revenue, 2019-2024 ($M)
8.Chile SMS Market Revenue, 2019-2024 ($M)
9.Rest of South America SMS Market Revenue, 2019-2024 ($M)
10.UK SMS Market Revenue, 2019-2024 ($M)
11.Germany SMS Market Revenue, 2019-2024 ($M)
12.France SMS Market Revenue, 2019-2024 ($M)
13.Italy SMS Market Revenue, 2019-2024 ($M)
14.Spain SMS Market Revenue, 2019-2024 ($M)
15.Rest of Europe SMS Market Revenue, 2019-2024 ($M)
16.China SMS Market Revenue, 2019-2024 ($M)
17.India SMS Market Revenue, 2019-2024 ($M)
18.Japan SMS Market Revenue, 2019-2024 ($M)
19.South Korea SMS Market Revenue, 2019-2024 ($M)
20.South Africa SMS Market Revenue, 2019-2024 ($M)
21.North America SMS By Application
22.South America SMS By Application
23.Europe SMS By Application
24.APAC SMS By Application
25.MENA SMS By Application
26.APPOINTMENT REMINDER, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.AVOCHATO, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.CALLHUB, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.CYTECH LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.FIRSTHIVE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.MOZEO LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.MOBILE TEXT ALERTS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.SIMPLYCAST, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.SENDPULSE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.TECKST, Sales /Revenue, 2015-2018 ($Mn/$Bn)