North America 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 North America is expected to grow from US$ 14,711.31 million in 2022 to US$ 20,924.22 million by 2028. It is estimated to grow at a CAGR of 6.0% from 2022 to 2028.
Growing adoption of Rich Communication Services
Increased internet usage, increased reliance on cutting-edge APIs, increased adoption of rich communication services (RCS), and widespread use of OTT messaging platforms by businesses across the nation are all predicted to contribute to the growth of CPaaS. With more individuals utilizing smartphones, text messaging has become a very popular form of communication. It is possible to improve such an experience for its clients by implementing RCS solutions. The subscriber base grows because of new technological developments like long-term voice-over evolution. As a result, businesses are using RCS solutions for digital product marketing to reach a wide audience. The CaaS industry is expected to be driven, in addition to the advantages of individual messaging, by businesses using rich communication services for Application to Person (A2P) messaging. Companies are investing more money on SMS marketing to reach a big client base quickly. SMSs have the highest Click Through Rate (CT) of any marketing medium and a broad audience. The RCS corporate messaging platform is being created to take the role of the current A2P messaging systems, hence promoting the adoption of rich communication services in North America.
The US, Canada, and Mexico are among the major economies in North America. North America is predicted to have the greatest revenue share in the A2P SMS and CPaaS market. It is because of the increasing rate of adoption of numerous advanced technologies. The increasing use of cutting-edge technologies such as machine learning, industrial automation, and growing digitalization across regional organizations are expected to boost market growth in the region. Furthermore, North America is becoming a hub for various industrial verticals such as IT & Telecom, BFSI, healthcare, and energy & utilities these industrial sectors have a large client base, which is expected to provide CPaaS providers with new lucrative opportunities. Several businesses in North America use cost-effective and user-friendly browser-based communication solutions and client feedback through digital means such as social media, contact centers, web portals, and mobile phones. As a result, the North America A2P SMS and CPaaS market is expected to grow during the forecast period.
North America A2P SMS and CPaaS market Revenue and Forecast to 2028 (US$ Million)
North America A2P SMS and CPaaS market Segmentation
The North America 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 BFSI segment held the largest market share in 2022. Based on country, the market is segmented into US, Canada, and Mexico. The US 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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