Global Short Message Service (SMS) Marketing Market Size, Trends and Growth Opportunity, By Component (Software, Services), By Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises), By Deployment Type (SaaS, On-Premises), By Terminal Ty

Global Short Message Service (SMS) Marketing Market Size, Trends and Growth Opportunity, By Component (Software, Services), By Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises), By Deployment Type (SaaS, On-Premises), By Terminal Type (Mobile-Based, Desktop-Based), By Type of SMS (Transactional SMS, Promotional SMS, Alert SMS, Personalize SMS), By End User (Advertising and Event Management, Banking, Financial Services and Insurance (BFSI), Cab Aggregator, Media and Entertainment, Retail, Hotels and Resorts, Others), By Region and forecast till 2027.

Global Short Message Service (SMS) Marketing Market

Global Short Message Service (SMS) Marketing Market was valued at USD 64489.20 million in 2021 and is slated to reach at USD 84904.89 million by 2027 at a CAGR of 3.8 % from 2022-2027.

Short message service marketing (SMS) is a technique used by businesses to give permission-based text messaging. This is used in conjunction with product promotion. Short message service marketing, commonly known as text messaging, is popular since it allows different businesses to promote their products/services in order to optimise sales. It primarily incorporates current happenings, as well as offering coupons, special deals, and related information to consumers via text texts.

Market Drivers

The emergence of AI for analysing customer data to produce customised promotional messages is also anticipated to increase demand for short messaging service (SMS) marketing. Artificial intelligence (AI) is used to develop content, optimise delivery, increase consumer engagement, and decrease the cost and turnaround time for responses. Although they are not frequently used, AI-enabled technologies are supported by some businesses' applications. For instance, IBM Corporation's new Watson Marketing solution uses an AI-powered content management system to enhance customer communications. Short messaging service (SMS) marketing industry leaders provide creative methods to draw in more customers. As an illustration, TextMagic Ltd. provides SMS API to customers, allowing them to integrate text messaging with their current business software or application. This enables customers to send messages without going to a vendor portal. It is anticipated that increased competition in the industry and a higher rate of market expansion will result from improvements in services and product innovation along with cost-cutting measures.

The industry is expected to expand significantly as a result of more people having access to the internet and smartphones becoming more commonplace worldwide. A study by the Internet Innovation Alliance estimates that there were 208.2 million smartphones in use in the United States in 2016 and that figure would increase to 270.7 million by 2021. Similarly, according to research from the U.S. Pew Research Center, 81% of Americans own a smartphone, while 96% of individuals in the U.S. had a cell phone as of February 2019. According to analysis, text messages have a greater open rate because individuals frequently check their cellphones or mobile devices and open messages as soon as they are received. As a result, the growing use of smartphones is anticipated to open up attractive potential for the growth of the short message service (SMS) marketing Market

Market Restraints

The availability of constrained messaging space makes it difficult for the short message service (SMS) marketing business to expand. Because there is a character limit of 160 for messages, the SMS must be concise, clear, and to the point. Long messages exceed the character restriction, which divides the message into multiple smaller ones. Due to the fact that it is no longer appealing to the consumer, the impact on them is lessened.

Market Segmentation

Global Short Message Service (SMS) Marketing Market is segmented into Component, Enterprise Size, Deployment Type, Terminal Type, Type of SMS, End-User. By Component Type such as Software, Services. By Enterprise Size such as Small and Medium Enterprises (SMEs), Large Enterprises. By Deployment Type such as SaaS, On-Premises. By Terminal type such as Mobile-Based, Desktop-Based. By Type of SMS such as Transactional SMS, Promotional SMS, Alert SMS, Personalize SMS. By End-User such as Advertising and Event Management, Banking, Financial Services and Insurance (BFSI), Cab Aggregator, Media and Entertainment, Retail, Hotels and Resorts, Others.

Regional Analysis

Global Short Message Service (SMS) Marketing Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America currently holds a lion's share of the short messaging service (SMS) marketing market in terms of revenue and market share around here, due to the use of marketing services by both small and large businesses, as well as medium-sized and large organisations. The region with the highest projected compound annual growth rate is still expected to be Asia-Pacific. This is a result of increased smartphone usage and greater internet access in this area.

Key Players

This report includes a list of numerous Key Players, namely Oracle (U.S.), IBM (U.S.), Salesforce, Inc. (U.S.), Agile CRM (U.S.), Bitrix24 (U.S.), Celerity Systems (Pty) Ltd (U.K.), ClickSend (Australia), directSMS (Australia), Dove Soft Pvt Ltd (India), Exotel Techcom Pvt. Ltd (India).

Market Taxonomy

By Component

• Software
• Services

• Small and Medium Enterprises (SMEs)
• Large Enterprises

• SaaS
• On-Premises

• Mobile-Based
• Desktop-Based

• Transactional SMS
• Promotional SMS
• Alert SMS
• Personalize SMS

• Advertising and Event Management, Banking
• Financial Services and Insurance (BFSI)
• Cab Aggregator
• Media and Entertainment
• Retail, Hotels and Resorts
• Others

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.