Global Premium Messaging Market is Expected to Expand at an Enormous 40.7% CAGR over the Forecast P

The market research study, titled "Premium Messaging Market – A2P SMS Market, P2A SMS Market: Global Analysis, Trends, Size and Forecast (2007 – 2017)", presents a detailed overview of the global premium messaging market and presents a forecast till 2017. The report states that the market, which had a valuation of US$165.9 bn in 2011, reached US$236.9 bn in 2012, and US$1,134.2 billion by 2017, expanding at an unprecedented 36.6% CAGR between 2012 and 2017.

The rising use of mobile messages for a variety of marketing and communication activities by businesses and the continuously dropping prices of premium messages are some of the chief driving factors significantly impacting the global premium messaging market in a positive manner. Some of the other factors driving the demand for premium messaging services across the globe include the compatibility of text messages on all kinds of mobile handsets and the user-friendly nature of text messages. The widening popularity of social messaging services is, however, expected to restrain the market’s growth to some extent.

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The report segments the global market for premium messaging services into two broad categories: premium SMS and premium MMS. Of these, the market segment of premium MMS is currently the leading market segment, based on revenue as well as volume. The report states that the segment of premium MMS services will expand at the fastest pace over the report’s forecast period. The market for premium MMS services is expected to expand at an enormous 40.7% CAGR over the report’s forecast period. On the other hand, the market segment of premium SMS services, which accounted for a 86.2% share in the overall premium messaging market in 2012, is expected to rise to US$907.9 bn by 2017.

Both these segments are further segmented into the sections of application to person (A2P) and person to application (P2A) messages depending on the origin and destination of the messages. Of these, the market segment of A2P premium SMS accounted for a nearly 66% share in the premium SMS (PSMS) market segment in 2012.Geography-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Of these, the regional market of Asia Pacific led the global premium SMS services market in 2012. In 2011, the overall traffic for premium messages in this region was nearly 86 billion.

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Premium messaging is used in sectors such as shipping and logistics, retail, entertainment, BFSI, entertainment and media, hospitality, and outsourcing. Analysts predict that despite challenges such as the emergence of social networking sites and other online modes of communications, the BFSI sector is estimated to be the key user of premium messaging services. The sector is anticipated to utilize these services for establishing communication with a wider population base about payment reminders, alerts, premium dues, offers, and schemes. The entertainment and media industry is also using the services of this market to reach about to a large number of people about competitions, tickets, bookings, concerts, voting, and several other programs. Thus, the comfort of users with text messages is expected to be a lucrative opportunity for the global market to use it as a medium to communicate messages pertaining to public interest.

Researcher Tech Trends Up To Date. Market research is an important component of modern business strategy; the process of systematic gathering