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According to a new report, published by KBV research, The Global Premium Messaging Market size is expected to reach $129.47 billion by 2031, rising at a market growth of 8.8% CAGR during the forecast period.
The A2P SMS segment is leading the Global Premium Messaging Market by Product in 2023; thereby, achieving a market value of $59.13 billion by 2031. The increasing need for safe and dependable business communications, especially in the banking, healthcare, retail, and government services industries, is the main factor propelling the A2P SMS (Application-to-Person SMS) market. Businesses rely on A2P SMS for transactional alerts, OTP verifications, promotional campaigns, appointment reminders, and emergency notifications, making it an essential communication tool.
The Hospitality segment captured a CAGR of 9.2% during (2024 - 2031). Hotels, airlines, and travel agencies leverage premium SMS and MMS for reservation confirmations, itinerary updates, check-in reminders, and special promotions. The growing adoption of contactless services and AI-driven chatbots has also encouraged hospitality businesses to integrate premium messaging for automated customer support and loyalty program engagement. As the industry recovers post-pandemic, premium messaging remains essential for enhancing guest experiences, reducing service friction, and driving direct bookings.
Full Report: https://www.kbvresearch.com/premium-messaging-market/
The North America region dominated the Global Premium Messaging Market by Region in 2023; thereby, achieving a market value of $43.31 billion by 2031. The Europe region is expected to witness a CAGR of 8.7% during (2024 - 2031). Additionally, The Asia Pacific region would experience a CAGR of 9.4% during (2024 - 2031).
By Product
By Application
By Geography
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