The U.S. SMS Marketing Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The U.S. SMS marketing market size is projected to value USD 12.6 billion until 2025. It is expected to register a CAGR of 20.3% over the forecasted years, 2019 to 2025. The increasing adoption of mobile phones coupled with the need for implementing marketing strategies through virtual mode is anticipated to drive the market growth in the upcoming years.
Key Players:
- IBM Corporation
- Infoblip Ltd.
- InMobi
- Millennial Media
- Marketo
- Amobee, Inc.
- Salesforce, Inc.
- Oracle Corporation
- Chartboost
- SAS Institute Inc.
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Growth Drivers:
SMS marketing also reduces the overhead costs associated with marketing such as paper and labor costs, thereby facilitating convenient and fast means for marketing. Moreover, the discovery of various AI-enabled tools for SMS marketing tools is expected to propel the growth. Further, the usage of CTR (Click Through Rate) technologies for the efficient performance of the marketing campaign is gaining traction across the globe.
A published report by an online messaging service provider named Burst SMS stated that high CTR can be achieved by SMS as compared to other marketing tools. Moreover, text messages have additional features like low customer complaints and an increased open rate. These benefits along with enhanced CTR are projected to boost the demand for SMS marketing.
Along with a higher opening rate, the SMS also offers benefits like no internet dependency, affordability, and quick results. They also offer customized personal offers to target particular customers. This personalization helps in enhancing the chances of converting potential to actual customers.
End Use Outlook:
- Retail
- Media & Entertainment
- Travel
- Automotive
- Healthcare
- IT & Telecom
- BFSI
The U.S. SMS marketing market can be segmented into media & entertainment, retail, automotive, travel, IT & Telecom, BFSI, Healthcare, and others. In 2018, the retail segment held the largest share of exceeding 23.0% across the market. This can be associated with the rising adoption of such services by retailers for informing about various events and offers associated with their products.
The segment of media & entertainment is projected to register significant growth with around 22% CAGR over the forecasted years. This can be attributed to the surging usage of messaging services to promote events, TV shows, and movies. Moreover, rising popularity about the usage of two-way messaging services for SMS polls and SMS voting is anticipated to drive the market growth.
Enterprise Size Outlook:
- SMEs
- Large Enterprises
COVID-19 Impact Insights:
The market has been affected positively on account of the ongoing COVID crisis. This can be associated with the fact that is one of the feasible ways for marketing purposes that allows virtual interaction with the customers. Moreover, rapidly increasing usage of smartphones for marketing and entertainment purposes has been on the rise on account of lockdown and imposition of travel restrictions. However, a decrease in the profits of several players in this period has resulted in a reduction of investments for marketing purposes. This is projected to hinder the market growth for SMS marketing to some extent over the post-pandemic period.
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