Transparency Research Market has recently announced the publication of a new market research study, titled “BFSI A2P SMS Market – Switzerland Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” made available on the company website. The research study talks about the market in question, focusing on the overview, product segmentation, current market trends, drivers and barriers, and competitive scenario. In addition, historical data and estimates are presented in the study with the help of tables, charts, graphs, and infographics.According to the research study, in 2014, the Switzerland A2P SMS market for the BFSI industry was worth US$130.6 mn and is projected to reach a value of US$262.5 mn by the end of 2023. The market is estimated to exhibit a healthy 8% CAGR between 2015 and 2023.
Application-to-a-person is a type of mobile SMS service in which the SMS is sent from a web application to a mobile subscriber or person. The banking, financial services, and insurance industry is the major end user of the A2P SMS technology around the world. The major uses of A2P SMS in the BFSI industry include bill payments on various banks’ merchant sites, money transfer, one-time password, and other SMS services that are related to banking transactions.
A2P SMS enables diverse organizations to reach a greater audience of every age. Thus, the A2P SMS market provides several growth opportunities in the next few years. In recent years, the increased use of mobile phones for banking activities has augmented the marketing operations of application developers worldwide, fueling the growth of the A2P SMS market for the BFSI industry in Switzerland in the coming years. Moreover, the BFSI industry in Switzerland is expected to witness a substantial growth in demand for several A2P SMS applications such as bank account updates, one-time passwords, and payment confirmations. In addition, the growing employment rate in Switzerland is further boosting the demand for new bank accounts, resulting in increased use of mobile applications for banking purposes.
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On the flip side, the declining banking industry in Switzerland is a key factor that is anticipated to curb the growth of the A2P SMS market for the BFSI industry in Switzerland by marking down the consumer base of A2P SMS service providers in the coming years. Similarly, the introduction of new innovative applications and technologies in the BFSI sector is estimated to hamper the market’s growth in the forecast period.
Furthermore, the research study studies the major players operating in the A2P SMS market for the BFSI industry in Switzerland. A detailed analysis of these players has been included in the report, including their competitive and financial profiles, business policies, SWOT analysis, product portfolio, and major developments. Some of the major players in the market are Dialogue Communications Ltd., AMD Telecom S.A., GMS, FORTYTWO Group Ltd., Ogangi Corporation, Infobip Ltd., Silverstreet BV, mBlox, Inc., Beepsend AB, Symsoft AB, and Syniverse Technologies, LLC. Considering the high potential of the Switzerland A2P SMS market for the BFSI industry, several new players are expected to be a part of it and gain a competitive advantage in the market.
Key Segments of the Switzerland A2P SMS Market:
Switzerland A2P SMS market for BFSI industry, By Applications
- Pushed Content Services
- Customer Relationship Management (CRM)
- Promotional Campaigns
- Interactive Services
- Other (Inquiry Related) Services