Premium Messaging Market Size, Share, Growth | Forecast 2031
Premium Messaging Market Size, Share, Growth | Forecast 2031
Segments - Premium Messaging Market by Products (Premium SMS and Premium MMS), Origin and Termination (Application to Person and Person to Application), Applications (Banking, Financial Services, and Insurance, Media & Entertainment, Hospitality, Outsourcing, Retail, and Shipping & Logistics), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
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| Report ID :ICT-SE-538
| 4.1 Rating
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| 186 Pages
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Report Description
Premium Messaging Market Outlook 2031
The global premium messaging market size was valued at USD 78.76 Billion in 2022 and is projected to reach USD 126.44 Billion by 2031, expanding at a CAGR of 5.4% during the forecast period 2023 - 2031. The growth of the market is attributed to the improved mobile marketing initiatives, quality improvement in content providers, and progress in SMS aggregators.
Premium messaging is a form of SMS that can be sent using a special short-code and the cost of the service is deducted from user’s available smartphone credits. A key example of premium SMS can be, texting in to vote for a candidate or competitor in entertainment shows such as singing competition, dancing, or talent search show. The charge for using the SMS service is debited from sender’s credit balance on smartphone.
In general, premium texting can be described as a SMS or texting service that users have to pay for sending it to third-party messaging systems that charge regular text messaging prices. These payments are either charged for content submitted to the user’s phone or for service attendance. Short codes are used in lieu of telephone numbers to send or receive text or video messages to or from programs.
Premium Messaging Market Trends, Drivers, Restraints, and Opportunities
- Extensive use of SMS as a corporate contact platform for organizational and marketing communications is expected to driving the premium messaging market growth.
- Premium messaging systems are preferred by customers as the systems offer user-friendly and reducing cost of service. This is projected to boost the market.
- Availability of low-cost text messages service along with easy accessibility to the service using smartphones are key factors projected to fuel the premium messaging market expansion in the coming years.
- Growing use of social messaging sites as voting platform for various polls is anticipated to hamper the premium messaging market expansion during the forecast period. .
- Rising concerns related to threats such as mobile spam and the proliferation of instant messaging are expected to impede the premium messaging market growth.
- Advancement of new system such as customer relationship management (CRM) tactics is expected to create several opportunities for the players in the coming years.
Scope of Premium Messaging Market Report
The report on the global premium messaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Premium Messaging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Products (Premium SMS and Premium MMS), Origin and Termination (Application to Person (A2P) and Person to Application (P2A)), Applications (Banking, Financial Services, and Insurance (BFSI), Media & Entertainment, Hospitality, Outsourcing, Retail, and Shipping & Logistics) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
mBlox, OpenMarket, Sybase 365, AMD Telecom SA, Infobip Plt., Dialogue Communications Ltd., Mobicage NV, Symsoft AB, V3Mobi Communications Pvt. Ltd. AT&T, T-Mobile, and Sprint |
Global Premium Messaging Market Segment Insights
SMS segment is expected to hold a large market share
On the basis of products, the premium messaging market share is bifurcated into premium SMS and premium MMS. The premium SMS segment is expected to hold a large share of the market during the forecast period owing to the easy access to SMS service and low-cost as compared to premium MMS. The rising adoption of premium SMS service by several entertainment companies for promotion of their TV shows and programs present a key driver for the segment growth.
Person to application segment is projected to exhibit a high CAGR
In terms of origin and termination, the global premium messaging market is segmented into application to person and person to application. The person to application segment is projected to exhibit a high CAGR during the forecast period owing to the wide use of applications for using premium SMS service. On the other hand, the application to person segment is expected to constitute a major market share in the coming years due to rising adoption of the service type.
BFSI segment is expected to grow at a substantial rate
Based on applications, the global premium messaging market is divided into banking, financial services, and insurance (BFSI), media & entertainment, hospitality, outsourcing, retail, and shipping & logistics. The BFSI segment held a key share of the market in 2020 and is anticipated to expand at a substantial rate during the forecast period.
Premium messaging is widely adopted by the BFSI sector to inform consumers of order notices, payment updates, premium dues, new deals, and pricing alerts. However, the media & entertainment segment is projected to register a substantial growth rate during the forecast period. The messaging system is used by customers for various applications such as competing in or subscribing to contests, quizzes, programs, or voting via the service in media and entertainment. This presents a key factor drives the segment growth.
On the other hand, the hospitality segment is anticipated to exhibit a significant CAGR during the forecast period owing to wide applications of the service for advising customers about hotel, flight, tourism company promotional schemes, as well as sending booking information.
Market in North America is expected to grow at a rapid pace
In terms of regions, the premium messaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to grow at a rapid pace in the coming years owing to early adoption of new technology in the communication industry and presence of big global players in the region especially in the US.
Some new developments such as the launching of less fees charged for premium SMS by three big operators of the US, AT & T, T-Mobile, and Sprint are key aspects for regional market growth. On the other hand, the market in Asia Pacific is projected to hold a large market share during the forecast period due to the implementation of long-term evolution (LTE) solutions of the telecommunication industry in countries such as Japan and Korea.
Segments
The global premium messaging market has been segmented on the basis of
Products
- Premium SMS
- Premium MMS
Origin and Termination
- Application to Person
- Person to Application
Applications
- Banking, Financial Services, & Insurance (BFSI)
- Media & Entertainment
- Hospitality
- Outsourcing
- Retail
- Shipping & Logistics
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- AT&T
- T-Mobile
- Sprint
- mBlox
- OpenMarket
- Sybase 365
- AMD Telecom SA
- Infobip Plt.
- Dialogue Communications Ltd.
- Mobicage NV
- Symsoft AB
- V3Mobi Communications Pvt. Ltd.
Competitive Landscape
Major players competing in the premium messaging market include AT&T; T-Mobile; Sprint; mBlox; OpenMarket; Sybase 365; AMD Telecom SA; Infobip Plt.; Dialogue Communications Ltd.; Mobicage NV; Symsoft AB; and V3Mobi Communications Pvt. Ltd.
Frequently Asked Questions
The market in North America is expected to grow at a rapid pace in the coming years owing to early adoption of new technology in the communication industry and presence of big global players in the region especially in the US.
North America is estimated to account for a large market share owing to increasing trend of big data analytics coupled with growing demand for cloud computing.
The premium SMS segment is expected to hold a large share of the market during the forecast period owing to the easy access to SMS service and low-cost as compared to premium MMS.
The Premium Messaging Market is studied from 2023 - 2031.
Premium Messaging Market is growing at a CAGR of 5.4% in forecast period.
The global Premium Messaging Market size was valued at USD 78.76 billion in 2022.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Premium Messaging Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Premium Messaging Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Premium Messaging Market - Supply Chain
4.5. Global Premium Messaging Market Forecast
4.5.1. Premium Messaging Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Premium Messaging Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Premium Messaging Market Absolute $ Opportunity
5. Global Premium Messaging Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Premium Messaging Market Size and Volume Forecast by Applications
5.3.1. Banking, Financial Services, & Insurance (BFSI)
5.3.2. Media & Entertainment
5.3.3. Hospitality
5.3.4. Outsourcing
5.3.5. Retail
5.3.6. Shipping & Logistics
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Premium Messaging Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Premium Messaging Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Premium Messaging Demand Share Forecast, 2019-2026
7. North America Premium Messaging Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Premium Messaging Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Premium Messaging Market Size and Volume Forecast by Applications
7.4.1. Banking, Financial Services, & Insurance (BFSI)
7.4.2. Media & Entertainment
7.4.3. Hospitality
7.4.4. Outsourcing
7.4.5. Retail
7.4.6. Shipping & Logistics
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Premium Messaging Demand Share Forecast, 2019-2026
8. Latin America Premium Messaging Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Premium Messaging Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Premium Messaging Market Size and Volume Forecast by Applications
8.4.1. Banking, Financial Services, & Insurance (BFSI)
8.4.2. Media & Entertainment
8.4.3. Hospitality
8.4.4. Outsourcing
8.4.5. Retail
8.4.6. Shipping & Logistics
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Premium Messaging Demand Share Forecast, 2019-2026
9. Europe Premium Messaging Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Premium Messaging Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Premium Messaging Market Size and Volume Forecast by Applications
9.4.1. Banking, Financial Services, & Insurance (BFSI)
9.4.2. Media & Entertainment
9.4.3. Hospitality
9.4.4. Outsourcing
9.4.5. Retail
9.4.6. Shipping & Logistics
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Premium Messaging Demand Share Forecast, 2019-2026
10. Asia Pacific Premium Messaging Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Premium Messaging Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Premium Messaging Market Size and Volume Forecast by Applications
10.4.1. Banking, Financial Services, & Insurance (BFSI)
10.4.2. Media & Entertainment
10.4.3. Hospitality
10.4.4. Outsourcing
10.4.5. Retail
10.4.6. Shipping & Logistics
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Premium Messaging Demand Share Forecast, 2019-2026
11. Middle East & Africa Premium Messaging Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Premium Messaging Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Premium Messaging Market Size and Volume Forecast by Applications
11.4.1. Banking, Financial Services, & Insurance (BFSI)
11.4.2. Media & Entertainment
11.4.3. Hospitality
11.4.4. Outsourcing
11.4.5. Retail
11.4.6. Shipping & Logistics
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Premium Messaging Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Premium Messaging Market: Market Share Analysis
12.2. Premium Messaging Distributors and Customers
12.3. Premium Messaging Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. AT&T
12.4.2. T-Mobile
12.4.3. Sprint
12.4.4. mBlox
12.4.5. OpenMarket
12.4.6. Sybase 365
12.4.7. AMD Telecom SA
12.4.8. Infobip Plt.
12.4.9. Dialogue Communications Ltd.
12.4.10. Mobicage NV
12.4.11. Symsoft AB
Methodology
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