Global Premium Messaging Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Inquiry And Search Related Services, Voting And Entertainment, Authentication Services, Notifications And Alerts, Promotional And Marketing Services, Others), By Traffic (Multi-Country, National), By Industry (Telecom And IT, BFSI, Retail And E-Commerce, Travel And Tourism, Media And Entertainment Enterprises, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Aug 2021
- Report Code : KSI061610787
- Pages : 114
The global premium messaging market is evaluated at US$63.980 billion for the year 2019 and is projected to grow at a CAGR of 5.19% to reach the market size of US$91.180 billion by the year 2026.
Market Overview.
Premium messaging is referred to a special program that can be subscribed to by giving an additional fee. For such a subscription, an increased amount is charged for the service which either reflects on the bill if the phone is postpaid or is deducted from the prepaid credit.
The premium messaging services are widely used for participation in various types of contests or lucky draws being broadcast on TV or radio, for spoil alerts, horoscopes, weather alerts or to participate in interactive radio or TV shows. Moreover, premium messaging are mostly text-based and are also used for making donations, subscription or voting services.
Key market drivers.
Few factors including the rising subscription base of mobile services, emphasis on improving customer interaction, and wide utilization of communication devices are responsible for the global growth of the premium messaging market. Moreover, the cost-effectiveness of SMS coupled with continuously dropping prices of premium messages and instant delivery of messages are some factors contributing to the market growth significantly. However, increasing instances of mobile messaging spam and the adoption of illegitimate routes for sending messages can hamper market growth.
The surge in the adoption of two-factor authentication is anticipated to be a tailwind to the market during the forecast period.
Two-factor authentication has gained significant traction in recent years given the rise in the number of cyber-attacks and mobile messaging spam. Key features of SMS include instant delivery, high open rate, and cost-effectiveness. Despite the fact that only private financial institutions initially adopted two-factor authentication, this feature is now increasingly being implemented by companies across all industry verticals for numerous applications such as new registration authentication, password resets, and changes in user profile information.
Innovations done in order to enhance the customer interface will drive the market in the coming years.
Several sectors have adopted SMS services for various purposes in recent years. With the increase in the adoption of bringing your own device trend coupled with the boom in the concept during the year 2020, the demand has increased in several end-use sectors as well.
Impact of COVID-19 on the Premium Messaging Market
The advent of COVID-19 had a positive impact on the premium messaging market given the shift towards digitally working during the period as several industries opted for work from home coupled with bringing your own device trends to restrict human contact while continuing operations virtually. The adoption of digital services increased in the year 2020 with the emergence of several coworking platforms like Zoho amongst others. The demand for premium messaging is expected to continue with the same trend in the coming years given the rise in the market penetration of mobile users and subscribers
Global Premium Messaging Market Scope:
Report Metric | Details |
Market size value in 2019 | US$63.980 billion |
Market size value in 2026 | US$91.180 billion |
Growth Rate | CAGR of 5.19% from 2019 to 2026 |
Base year | 2019 |
Forecast period | 2021–2026 |
Forecast Unit (Value) | USD Billion |
Segments covered | Application, Traffic, Industry, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | mBlox, OpenMarket, Sybase 365, AMD Telecom SA, Infobip Plt, Dialogue Communications Ltd., Mobicage NV, Symsoft AB, V3Mobi Communications Pvt. Ltd., CLX Communications |
Customization scope | Free report customization with purchase |
Segmentation
By Application
Inquiry And Search Related Services
Voting And Entertainment
Authentication Services
Notifications And Alerts
Promotional And Marketing Services
Others
By Traffic
Multi-Country
National
By Industry
Telecom And IT
BFSI
Retail And E-Commerce
Travel And Tourism
Media And Entertainment Enterprises
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
UK
Others
Middle East & Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Others
Frequently Asked Questions (FAQs)
Q1. What will be the premium messaging market size by 2026?
A1. The global premium messaging market is projected to reach a total market size of US$91.180 billion in 2026.
Q2. What are the growth prospects for the premium messaging market?
A2. The premium messaging market is projected to grow at a CAGR of 5.19% during the forecast period.
Q3. What is the size of global premium messaging market?
A3. Premium Messaging Market was valued at US$63.980 billion in 2019.
Q4. How is the premium messaging market segmented?
A4. The global premium messaging market has been segmented by application, traffic, industry, and geography.
Q5. What factors are anticipated to drive the premium messaging market growth?
A5. Few factors including the rising subscription base of mobile services, emphasis on improving customer interaction, and wide utilization of communication devices are responsible for the global growth of the premium messaging market.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Premium Messaging Market Analysis, by Application
5.1. Introduction
5.2. Inquiry And Search Related Services
5.3. Voting And Entertainment
5.4. Authentication Services
5.5. Notifications And Alerts
5.6. Promotional And Marketing Services
5.7. Others
6. Premium Messaging Market Analysis, by Traffic
6.1. Introduction
6.2. Multi-Country
6.3. National
7. Premium Messaging Market Analysis, by Industry
7.1. Introduction
7.2. Telecom And IT
7.3. BFSI
7.4. Retail And E-Commerce
7.5. Travel And Tourism
7.6. Media And Entertainment Enterprises
7.7. Others
8. Premium Messaging Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. UK
8.4.4. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. India
8.6.3. Japan
8.6.4. South Korea
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Indonesia
8.6.8. Others
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. mBlox
10.2. OpenMarket
10.3. Sybase 365
10.4. AMD Telecom SA
10.5. Infobip Plt
10.6. Dialogue Communications Ltd.
10.7. Mobicage NV
10.8. Symsoft AB
10.9. V3Mobi Communications Pvt. Ltd.
10.10. CLX Communications
mBlox
OpenMarket
Sybase 365
AMD Telecom SA
Infobip Plt
Dialogue Communications Ltd.
Mobicage NV
Symsoft AB
V3Mobi Communications Pvt. Ltd.
CLX Communications
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