The global application-to-person (A2P) SMS and application program interface (API) market is characterized by stiff competition. With new entrants expected to foray into the space in the next couple of the years, competition is slated to get even tougher. Notwithstanding the cutthroat environment, the global A2P SMS API market is still expected to expand at a healthy CAGR of 4.1% from 2016 to 2024 to achieve a market valuation of US$245.9 mn by 2024 from US$171.9 mn in 2015.
Browse the full Global Application-to-Person (A2P) SMS and API Market Report:http://www.mrrse.com/application-to-person-sms-api-market
Popular Strategies Applied by Vendors to Gain and Retain Foothold in the Market
Application-to-Person (A2P) SMS, also referred to as enterprise or professional SMS, typically entails sending a text message from a web app to a mobile subscriber. A2P is used to send marketing messages such as push notifications and alerts. API is the acronym for application programming interface. It is roughly defined as: The allowance and processes to give programs access to connect and essentially, communicate with other programs. In the market, APIs as open source applications, have been utilized by most key vendors, including Nexmo Inc., Twilio Inc., and Syniverse Technologies, to reach out to a larger developer base across the globe. Further, to garner loyalty from developers, A2P SMS and API providers are providing complementary technical support to resolve technical glitches occurring while integrating the APIs in different apps.
Extra Security Provided by 2FA Expected to Drive Market Growth
The growing preference for 2FA over conventional ways of securing crucial consumer data during online transactions, is expected to substantially boost the A2P SMS and API market. 2FA is a two factor authentication, which due to an extra layer of security is provided to the consumers. 2FA is gradually becoming the first choice for enterprises across the world.
Furthermore, the growing usage of A2P SMS for mobile marketing will also provide a fillip to the A2P SMS and API market in the near future. An explosion of mobile devices worldwide has proved to be a boon for organizations in various industries as well as it provides them with a chance to reach out to a larger base of prospective consumers through A2P SMSs.
Security Concerns and Less Message Visibility Counteracting Market’s Growth
In the last couple of years, communication lines of mobile network operators (MNOs) have become highly susceptible to security breaches on account of lack of effective security tools. Most MNOs worldwide still stick to firewalls installed prior to 2012. They are incapable of providing the requisite visibility necessary to detect and ward off gray routes and other security threats. Gray routes hold more than two-thirds of A2P SMS traffic across the globe, which highlights the fact that one-third of A2P traffic can be monetized by MNOs. Thus, illicit traffic and security risks would drive up overall profitability of A2P SMS and API market in the next couple of years.
Browse the full Press Release of Global Application-to-Person (A2P) SMS and API Market at :http://www.mrrse.com/global-application-to-person-sms-api-market
Traditional API Accounted for Over Half the Market Share in 2015
The global A2P SMS API market can be segmented based on various parameters. By technology type it is divided into two: cloud API and traditional API. Of them, traditional API accounted for over 55.3% of the global market’s revenues in 2015. By end users it can be divided into SMS aggregators, marketers/resellers, bulk SMS providers and telecom operators. The segment of bulk SMS providers led with over 34.1% share in the revenues of the global market in 2015. It can be further divided on the basis of applications into customer relationship management services, pushed content services, interactive services, promotional campaigns, and others. Geographically it can be divided into Asia Pacific (APAC), North America, Middle East and Africa (MEA), Europe, and Latin America.