Europe A2P SMS and CPaaS market Forecast to 2028 – COVID-19 Impact and Regional Analysis – By Component (Solution and Services), Channel [Message (Chat Apps and SMS), Voice, Email, Webpush, and Others], Enterprise Size (SMEs and Large Enterprises), and Industry (IT and Telecom, BFSI, Retail and Ecommerce, Healthcare, and Others)
The A2P SMS and CPaaS market in Europe is expected to grow from US$ 19,902.03 million in 2022 to US$ 27,592.30 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Mounting Trend of Mobile Marketing via Messaging
Through CPaaS, businesses use mobile marketing to instantly notify and inform their consumers and provide them with tickets and promotional messaging. As one of the simplest and most economical forms of communication for generating leads, boosting sales, and cultivating relationships with customers, mobile marketing has been widely adopted across a variety of industry verticals, including BFS, media and entertainment, travel, tourism, retail, aerospace, insurance, and healthcare. The urgent need to secure their customers and their organizations' data has emerged as one of their top objectives as businesses employ SMS messaging services to communicate with users and enhance their user experience. Mobile network operators and SMS aggregators are placing more emphasis on A2P messaging to boost their income. For example, when a mobile marketer utilizes A2P messaging, businesses pay the telecom operator and SMS aggregator for their services. The CPaaS industry has a significant window of opportunity for growth in mobile marketing. Advancements are expanding new potential in the CPaaS industry in mobile marketing. For instance, in May 2022, Mass reported that MTarget had chosen iBASIS to introduce CPaaS mobile marketing campaigns via APIs for contact centers and enterprises in banking, finance, and retail. This campaign management would be implemented via programmable voice calls.
Germany, France, the UK, Russia, and Italy are among the major economies in Europe. With the growing competitive rivalry in the market, European businesses are turning to CPaaS solutions to develop a transparent communication model with their customer by adding voice, video, and messaging features to the existing business software using APIs. The presence of major market players in this Europe region is also predicted to boost the market growth. As a result, most of the activity of e-commerce takes place in just three European countries: the United Kingdom, Germany, and France, but the Europe eCommerce market that is leading or developing in other parts of Europe. The dynamic shift in the retail industry from the earlier single point of interaction to omnichannel interactions through the web or social media has driven the market of retail and eCommerce. As a result, it builds and distributes real-time communication software and propels the growth of A2P SMS and CPaaS market in Europe, which is expected to grow rapidly during the forecast period.
Europe A2P SMS and CPaaS market Revenue and Forecast to 2028 (US$ Million)
Europe A2P SMS and CPaaS market Segmentation
The Europe A2P SMS and CPaaS market is segmented into component, channel, enterprise size, industry, and country. Based on component, the market is bifurcated into solution and services. The solution segment held a larger market share in 2022.
Based on channel, the market is segmented into message, voice, email, webpush, and others. The message segment held the largest market share in 2022. The message segment is further bifurcated into chat apps and SMS. Based on enterprise size, the market is divided into SMEs and large enterprises. The large enterprises segment held a larger market share in 2022. Based on industry, the market is segmented into IT and telecom, BFSI, retail and ecommerce, healthcare, and others. The retail and ecommerce segment held the largest market share in 2022. Based on country, the market is segmented into Germany, UK, France, Italy, and Rest of Europe. The Rest of Europe dominated the market share in 2022. Vonage; 8X8, INC.; Avaya Inc.; IntelePeer Cloud Communications LLC.; MessageBird; Plivo Inc.; Cisco Systems, Inc.; TWILIO INC.; Voximplant; and Wazo Communication Inc. are the leading companies operating in the A2P SMS and CPaaS market in the region.
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