The Global Bulk SMS Marketing Services Market is thriving on increased digitalization trends by 2030
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The
Bulk SMS Marketing Services market refers to platforms that enable businesses
and organizations to send bulk SMS messages via an application programming
interface (API) to a large number of customers simultaneously. Bulk SMS
services provide advantages like high message delivery rates, detailed
reporting on message performance, and two-way communication abilities. The need
for Bulk SMS services has increased as more businesses recognize text/SMS as
one of the most effective digital marketing channels given its high open rates
of 98%.
The Global
Bulk SMS Marketing Services Market Demand is estimated to be valued at
US$ 5.71 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast
period from 2024 to 2030.
Key Takeaways
Key players operating in the Bulk SMS Marketing Services are Arkema S.A.,
Covestro AG, DuPont, Inc., EOS GmbH, Evonik Industries AG, INTAMSYS, Prototal
Industries, Stratasys Ltd., BASF SE, Saudi Basic Industries Corporation
(SABIC), Huntsman International LLC., NatureWorks LLC. Key players provide
innovative features like unlimited texting, detailed analytics, two factor
authentications, and cross channel campaigns to help businesses maximize
engagements through SMS.
The growing demand in the Bulk SMS Marketing Services market is driven by
increasing preference of consumers to communicate over messaging applications
and the need of organizations to send timely communications. Bulk SMS helps
companies engage large audiences quickly and cost-effectively.
The global expansion of the Bulk SMS Marketing Services market has been
accelerated as businesses leverage these platforms to acquire and retain
customers across geographical boundaries. Leading providers have established
their presence worldwide by partnering with telecom operators and mobile
networks to ensure reliable delivery.
Market key trends
One of the key trends gaining traction in the Bulk SMS Marketing Services
market is personalized messaging. Platforms are offering advanced segmentation
capabilities that enable sending customized messages based on customer
attributes, past interactions, purchase behavior and location. This has
increased SMS marketing relevance and enhanced user experiences. Data analytics
and artificial intelligence are also being leveraged more to glean insights
from messaging responses and automate subsequent communications. Such trends
are expected to disrupt the Bulk SMS landscape and support the healthy growth
prospects over the forecast period.
Porter's Analysis
Threat of new entrants: New entrants face high initial infrastructure costs to
develop bulk messaging capabilities and establish relationships with mobile
network operators and SMS gateway providers.
Bargaining
power of buyers: Individual buyers have low bargaining power as bulk SMS
providers can benefit from economies of scale. However, large enterprises have
greater negotiating power.
Bargaining
power of suppliers: Providers have strong influence over SMS gateways and
relationships with mobile operators give them control over distribution
channels.
Threat
of new substitutes: Alternatives like messaging apps pose a minor threat
currently due to ubiquitous SMS reach.
Competitive
rivalry: Intense rivalry exists among well-established providers on pricing
strategies and value-added services.
Geographically, North America currently captures the largest share in the bulk
SMS marketing services market, in terms of value, owing to high mobile
penetration and extensive use of marketing tools. Asia Pacific is expected to
witness the fastest growth during the forecast period due to rising youth
population, increasing disposable income, and growth of social media in
countries like India and China.
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