Premium messaging services have been the standard forms of communicating since the evolution of mobile technology. Though charged initially, premium messages soon lost their premium pricing as the telecom service providers grew with larger subscriber bases. Today, with minimal charge, premium messaging services such as A2P MMS, A2P SMS, P2A MMS, and P2A SMS have become the obvious choices for several enterprises to establish meaningful communication with the masses.
The global premium messaging market is anticipated to grow at a remarkable pace due to the rising usage of mobile phones and other communication devices. The growing communication activities undertaken by business and enterprises due to a dip in the pricing of premium messages is also driving the global market.
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The usability of text messages across all platforms along with their user-friendliness is also driving the growth of the global market. Owing to these reasons, several enterprises and businesses along with private and public organizations are using SMS as a mode of communication with the masses. They not only come at a low price but can also reach the masses in a negligible timeframe.
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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.