High-Performance Message Infrastructure Market Trends [2031]

Report Description

High-Performance Message Infrastructure Market Outlook 2031

The global high-performance message infrastructure market size was valued at USD 1.09 Billion in 2022 and is likely to reach USD 3.86 Billion by 2031, expanding at a CAGR of 15.1% during 2023 – 2031. The market's growth is attributed to rising adoption of IoT-connected devices.

Increasing adoption of IoT-connected devices is expected to boost the demand for high-performance message infrastructure. High-performance message infrastructure is used in IoT-connected devices for communicating in the system. It transmits device telemetry or messages from the IoT devices to the IoT Messaging Hub, which helps businesses maintain, manage, track, and monitor equipment effectively. Therefore, growing demand for IoT-connected devices is estimated to enhance the market. For instance,

• According to a recent study, 15.14 billion connected IoT devices are available across the globe, and the number is estimated to reach 29.42 billion by 2030.

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High-performance message infrastructure is a technology that offers single and safe messaging support for simple integration of services and applications on various platforms. It provides reliance and protects information from being compromised or forged as well as ensures the uninterrupted systems. This message infrastructure is widely used in BFSI, IT & telecom, retail, and transportation & logistics industries to offer high message rates with low latency.

The COVID-19 pandemic hampered the demand for high-performance message infrastructure. The abrupt rise in COVID-19 infection encouraged governments to take preventive measures such as lockdowns and social distancing that led businesses to shift their focus toward a remote working model and reduce their investment in new technologies, which impeded the market.

The fall in the severity of COVID-19 infection in late 2020 encouraged the adoption of cloud-based services, which propelled the demand for high-performance message infrastructure, as it allows users to deliver as well as receive messages and notifications on web, iOS, and Android at no cost.

Impact of Artificial Intelligence (AI) on High-Performance Message Infrastructure

The growing technological advancements in cloud infrastructure and the introduction of artificial intelligence create an immense opportunity for high-performance message infrastructure. AI-augmented messaging and AI email tagging play a vital role in human interactions with customers. AI-powered messaging employs propensity modeling that enables customer service agents to handle a large part of customer queries.

AI-enabled email tagging direct emails to the right office without human intervention by scanning them. Companies are developing AI-powered message platforms to help businesses grow, creating a lucrative opportunity in the market. For instance,

• On August 12, 2023, Clicks Daily, a data and technology company focused on machine learning and artificial intelligence, announced the launch of an AI-powered messaging platform that empowers brands to deliver targeted messages directly to all in-home connected smart devices, including televisions.

High-Performance Message Infrastructure Market Dynamics

Major Drivers

Growing penetration of digitalization is expected to boost the demand for high-performance message infrastructure during the forecast period. Digitalization across the globe is encouraging businesses to adopt high-performance message infrastructure to enhance their business operation and efficiency. It powers communication, marketing, commerce, logistics, and security, which increases its adoption in several industries, especially in BFSI and retail.

Increasing preference for cloud-based solutions is projected to drive the market in the coming years. Cloud solution uses high-performance message infrastructure for different applications on the cloud to communicate with each other using messages. Thus, rising adoption of cloud-based solutions is propelling the market.

Existing Restraints

Increasing incidence of cyber threats and rising concern about data privacy is expected to restrict the demand for high-performance message infrastructure. Many high-performance message platforms are not designed with high-security features that encourage hackers to plant phishing scams, spam over instant messages, viruses, spyware, and a wide variety of worms.

Emerging Opportunities

Increasing acquisitions and mergers between companies to offer encrypted messaging services and software for users create an immense opportunity in the market. High-performance messaging infrastructure uses encrypted messaging features to protect messages from interception during that transaction. On June 25, 2021, Amazon Web Services, Inc. (AWS), a subsidiary of Amazon that provides on-demand cloud computing platforms, announced the acquisition of Wickr known for its instant messenger application. This acquisition helped AWS to deliver encrypted messaging features to its customers.

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Scope of the High-Performance Message Infrastructure Market Report

The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

High-Performance Message Infrastructure Market Segment Insights

Component Segment Analysis

Based on component, the high-performance message infrastructure market is bifurcated into software and services. The software segment dominated the market in 2022 and is expected to continue its dominance throughout the assessment period, owing to rapid technological advancements. High-performance message software helps businesses automate their business processes and offers high message rates with low latency. Moreover, the development of high-performance messaging software is propelling the segment.

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Industry Vertical Segment Analysis

In terms of industry vertical, the global market is segregated into banking, financial services, and insurance (BFSI); IT & telecom; government; retail; energy & utilities; transportation & logistics; and others. The banking, financial services, and insurance (BFSI) segment held a large market share in 2022, due to rising industrialization and increasing disposable income in emerging nations.

The BFSI industry widely utilizes high-performance message infrastructure to improve operational efficiency and compliance management, as it provides real-time data processing and streamlines applications for managing mission-critical transactional workloads, such as regulatory reporting and payment processing.

The transportation & logistics segment is projected to expand at a robust pace in the coming years, owing to evolving consumption patterns, rising demand for online shopping through e-commerce platforms, and growing urbanization. High-performance message infrastructure is used in the transportation industry to manage fleets, as it helps dispatchers and drivers to communicate without interruption. It also provides precise guidance, effective coordination, and timely updates, improving overall operational effectiveness that increases its adoption in transportation & logistics.

Regional Outlook

Based on region, the high-performance message infrastructure market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a major share of the market in 2022, due to increasing advancements in software development, rising adoption of advanced technologies, and the presence of established market players such as Oracle, Twilio Inc., Amazon Web Services, Inc., International Business Machines Corporation, and VMware.

Moreover, companies in the region are adopting the Everything-as-a-Service (XaaS) model to improve their cybersecurity, data analytics capabilities, and cloud infrastructure, which propelled the demand for high-performance message infrastructure, as it streamlines and simplifies communication among advanced devices for gaining optimized results.

Rising demand for IoT-connected devices in the region is boosting the demand for high-performance message infrastructure, as it is used in IoT-connected devices to communicate in the system by transmitting device messages from the IoT devices to the IoT messaging hub. For instance,

• The number of IoT-connected devices in North America in 2022 was 2.79 billion and is estimated to reach 6.24 billion by 2030.

The market in Asia Pacific is anticipated to expand at a high CAGR in the coming years, owing to rising IT infrastructure and increasing adoption of outsourced business process services in commercial sectors. Moreover, governments in the region are developing and introducing new instant messaging platforms with cloud-enabled technologies, which enhance the demand for high-performance message infrastructure. For instance,

• On July 30, 2021, Government of India launched an instant messaging platform, Sandes. Sandes is an open-source, secure, and cloud-enabled platform hosted by the government with features such as one-to-one and group messaging.

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