SMS Marketing Software Market size worth $ 24,687.10 Million, Globally, by 2028 at 20.40% CAGR: Verified Market Research®
SMS Marketing Software Market is on a substantial growth trajectory and attributed to growth in demand for marketing automation software, increase in online shopping behavior, and availability of cloud-based solutions at a low price. Moreover, SMS marketing software helps businesses to build and manage subscriber lists, send mass text campaigns, automate customer engagement along with the continuously growing demand for marketing automation software is boosting the growth of the SMS Marketing Software Market.
Verified Market Research recently published a report, “SMS Marketing Software Market” By Deployment Model (Cloud-Based and On-Premise), By Marketing Campaigns (Occasions, Special Offers, Celebrations, and Others), By Industry Vertical (BFSI, Transportation, Telecom & IT, Retail, Healthcare, and Others), and By Geography. According to Verified Market Research, the Global SMS Marketing Software Market size was valued at USD 5,592.88 Million in 2020, and the market size will reach USD 24,687.10 Million by 2028, growing at a CAGR of 20.40% from 2021 to 2028.
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Global SMS Marketing Software Market Overview
Increasing usage of social media, more inclination towards shopping online, higher Impact of the marketing campaigns, and offers on the customer purchase are among the key factors promoting the companies to rely on the SMS marketing software. Growing disposable income of the population, fast pace lifestyle and busier work-life have shifted the population to rely on smartphones for connecting with each other. Thus, mobile phones are bridging the gap between efficient communication and hectic living standards.
The growth of the market is mainly hampered due to limited messaging space availability for sending messages. The space available is limited to 160 characters, thus requires keeping the SMS simple, crisp and precise. Long messages extending the character limit results in the breaking up the longer one into several smaller messages. This reduces the impact on the customer as it becomes irritating for the customer instead of attractive. Another limitation with SMS marketing is a feature to block incoming text from unknown numbers. This feature restraint the texts from reaching the customer inbox as they come from the unrecognized /unknown number. Moreover, SMS marketing has been growing its use for conducting campaigns and events. Various companies are using artificial intelligence to carry out marketing campaigns and remove the conventional technique to improve their effectiveness.
There are certain challenges and restraints faced that will hinder the overall market growth. The factors such as low consumer response rate and limited messaging space inhibit the growth of the SMS Marketing Software Market. Nevertheless, the advancements in technologies, the advent of AI-enabled SMS marketing tools that enhance text messaging services, and untapped potential in emerging markets offer favorable growth opportunities.
Key Developments in SMS Marketing Software Market
- Avochato offers HIPAA compliant SMS messaging for healthcare companies to communicate with patients over SMS. It provides higher security communication with patients over SMS while following HIPAA requirements.
- SimplyCast Partners with RANS to provide check-in solutions.
- SimplyCast partners with the community sector council of Nova Scotia.
The major players in the market are APPOINTMENT REMINDER, Avochato, CallHub, Cytech Ltd., FirstHive, Mozeo, LLC, Mobile Text Alerts, SimplyCast, SendPulse.
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Verified Market Research has segmented the Global SMS Marketing Software Market On the basis of Deployment Model, Marketing Campaigns, Industry Vertical, and Geography.
- SMS Marketing Software Market, By Deployment Model
- SMS Marketing Software Market, By Marketing Campaigns
- Special Offers
- SMS Marketing Software Market, By Industry Vertical
- Telecom & IT
- SMS Marketing Software Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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