The global mobile messaging market size is set to reach USD 101.41 billion in 2023. Overall sales of mobile messaging are likely to surge at 15.9% CAGR, taking the forecasted market valuation to USD 443.53 billion by the end of 2033.
The market is expected to change rapidly over the years. The key trends that are expected to shape the market are:
Rise of Rich Communication Services (RCS): RCS is a next-generation messaging protocol that aims to replace the traditional SMS protocol. RCS enables advanced features such as read receipts, group chats, high-resolution media sharing, and more.
It also allows businesses to add branding elements, interactive buttons, and rich media to their messages. More mobile carriers and messaging app providers are adopting RCS to enhance the user experience. For example, Google has been pushing RCS adoption through its Android Messages app, which is pre-installed on many Android phones.
Integration with Artificial Intelligence (AI): Messaging apps are increasingly incorporating AI-powered chatbots to provide instant customer support, automate business processes, and deliver personalized content. Chatbots use natural language processing (NLP) and machine learning (ML) to understand user queries and respond with relevant information.
For example, some airlines use chatbots to provide flight updates and help customers rebook flights in case of delays or cancellations. Facebook Messenger has also introduced chatbots that can be integrated with business websites to provide instant customer support.
Growth of Business Messaging: Businesses are leveraging messaging apps to connect with customers in real time, provide customer support, and facilitate transactions. Messaging platforms are adding new features to support business messaging, such as appointment scheduling, payments, and e-commerce.
For example, WhatsApp Business enables small businesses to create a profile, automate text messaging, and respond to customer queries. Facebook Messenger has also introduced tools for businesses to facilitate transactions, such as in-app payments and purchase receipts.
Expansion of Social Messaging: Social messaging apps like WhatsApp, Facebook Messenger, and WeChat are becoming more than just text messaging apps. They are evolving into social media platforms that offer a range of features such as video calls, newsfeeds, stories, and more.
Messaging platforms are also integrating with other social media platforms to provide a seamless user experience. For example, Instagram users can now connect their accounts to Facebook Messenger to send and receive messages from both platforms.
| Attributes | Details |
|---|---|
| Mobile Messaging Market CAGR (2023 to 2033) | 15.9% |
| Mobile Messaging Market Size (2023) | USD 101.41 billion |
| Mobile Messaging Market Size (2033) | USD 443.53 billion |
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According to recent research by Future Market Insights, the mobile messaging market is projected to expand at a rate of 15.9% during the forecast period from 2023 to 2033. The market outlook could be divided into short-term, medium-term, and long-term.
Short term (2023 to 2025): Messaging apps are adding more advanced features such as video calling, file sharing, and group chats. These features provide a richer user experience and make messaging apps more appealing to users. The availability of advanced text messaging features is expected to continue to drive the growth of the mobile messaging market in the short term.
Medium-term (2025 to 2028): Messaging apps are becoming an essential channel for businesses to engage with their customers. Messaging allows for more personalized and targeted communication, helping businesses build stronger relationships with their customers. With the growing importance of customer engagement, messaging apps are expected to continue to play a significant role in the mobile messaging market.
Long-term (2028 to 2033): Chatbots are AI-powered conversational agents that can communicate with users through messaging apps. The integration of chatbots into text messaging apps has opened up new opportunities for businesses to provide better customer service and increase engagement. Chatbots can handle routine inquiries, freeing up customer service agents to handle more complex issues. This trend has driven the growth of chatbots, which is expected to continue in the coming years.
Growing Smartphone Penetration: The number of smartphone users worldwide is expected to reach 3.8 billion in 2021, and this number is projected to grow to over 4.3 billion by 2023. With the increasing availability and affordability of smartphones, more people have access to mobile messenger, driving the demand for mobile messaging.
Need for Instant Communication: People expect to communicate instantly with their contacts, whether it's for personal or business purposes. Mobile text messaging apps provide a convenient and fast way to communicate, especially for real-time conversations. With the popularity of messaging apps, people can stay connected with their contacts from anywhere, at any time.
Shift to Remote Work: The COVID-19 pandemic has accelerated the shift towards remote work, with many employees working from home. Messaging apps have become an essential tool for remote teams to communicate and collaborate effectively. Many businesses are relying on messaging apps to maintain communication with their employees, making the mobile messaging market more critical than ever.
Rise of Social Media: Social media platforms such as Facebook, Instagram, and Twitter have become popular communication channels, especially among younger generations. Messaging apps have evolved to incorporate social media features, making them more appealing to users. This trend has driven the growth of social messaging, which is expected to continue in the coming years.
Increasing Use of Mobile Payments: The growth of mobile payments has created new opportunities for mobile messengers. Many text messaging apps now offer payment features that allow users to transfer money to their contacts without leaving the app. This trend has driven the growth of mobile payments, which is expected to continue to grow in the coming years.
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Security Concerns: Messaging apps store sensitive personal information, and as the usage of messaging apps grows, so does the potential for data breaches and privacy violations. This can lead to a loss of trust among users and businesses, resulting in lower adoption rates.
Competition from Established Players: The mobile messenger market is highly competitive, with established players such as WhatsApp, Facebook Messenger, and WeChat dominating the market. It can be challenging for new entrants to gain market share and establish themselves in such a competitive market.
Regulatory Challenges: The mobile messaging market is subject to various regulations related to data privacy, data protection, and content moderation. Complying with these regulations can be challenging and costly for messaging app providers, which may limit their growth potential.
Limited Internet Connectivity: In some parts of the world, internet connectivity is limited, which can limit the adoption of mobile messaging apps. Without access to a stable internet connection, users may not be able to use messaging apps effectively, limiting the market's growth potential in these regions.
Technological Limitations: The market is constantly evolving, with new features and technologies being introduced regularly. Messaging app providers must keep up with these changes and innovate to remain competitive. However, technological limitations, such as device compatibility and network infrastructure, can make it challenging for messaging app providers to offer new and advanced features.
User Retention: The market is highly competitive, and mobile messengers must continuously engage their users to retain them. Messaging apps that fail to provide a compelling user experience risk losing their users to competitors, which can limit their growth potential.
Monetization Challenges: Many messaging apps are free to use, which can make it challenging for messaging app providers to monetize their services. Developing sustainable revenue models can be a significant challenge for messaging app providers, which may limit their growth potential in the long term.
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The USA has one of the highest smartphone penetration rates in the world, with around 81% of adults owning a smartphone as of 2021. With the increasing availability and affordability of smartphones, more people have access to text messaging, driving the demand for mobile messaging.
Social media platforms such as Facebook, Instagram, and Twitter have a strong presence in the USA, with high adoption rates among users. Messaging apps have evolved to incorporate social media features, making them more appealing to users. This trend has driven the growth of social messaging in the USA.
The USA mobile messenger market is a highly competitive space with several prominent players. Here are some of the top companies in the US market:
India has the second-largest internet user base in the world, with over 750 million users, according to the Internet and Mobile Association of India (IAMAI). With such a high number of internet users, there is a huge potential for growth in the market.
India's e-commerce market is expected to grow significantly in the coming years. Messaging apps are becoming an essential tool for e-commerce businesses in India to communicate with their customers, provide customer support, and enable transactions.
Top companies in India’s mobile messaging market:
Japan has one of the highest rates of internet penetration in the world, with over 93% of the population using the internet. With such a high number of internet users, there is a huge potential for growth in the market.
Top companies in the Japanese mobile messenger market include:
China has a very large mobile payment market, with companies like Alipay and WeChat Pay dominating the space. Messaging apps in China are integrating mobile payment features into their platforms, which has created new opportunities for businesses to reach customers and for individuals to make transactions.
Social messaging, where mobile messengers incorporate social media features, is becoming more popular in China. This trend has driven the growth of social messaging in the country.
Top companies in the Chinese mobile messenger market include:
The growth potential for the banking and financial institutions vertical in the mobile messaging industry is unparalleled. This is attributed to the surging adoption of business mobility and premium messaging services, which are propelling the expansion of the BFSI sector.
In today's digital age, customer engagement has become a key component in building brand loyalty, and the BFSI sector is no exception. With the proliferation of mobile messaging solutions, financial institutions can now communicate with customers in real-time, providing them with transaction data, retail banking activities, and support for their financial needs.
The increasing number of internet users and the widespread use of smartphones have heightened the demand for prompt and efficient customer service. This trend is driving the explosive growth of mobile messaging in the BFSI industry, enabling financial institutions to build stronger relationships with their customers and stay ahead of the competition.
The mobile messaging market is highly competitive, and the market players have adopted various strategies to gain a larger market share. Here are a few examples:
Through 2033, the Mobile Messaging Market is projected to develop at a CAGR of 15.9%.
In 2023, the market is expected to attain USD 101.41 billion.
By 2033, the industry is to have expanded to USD 443.53 billion.
The demand gets driven up as mobile subscribers are steadily rising in number.
Text-based mobile marketing is acquiring popularity.
Data security and privacy issues limit the growth of the mobile messaging market.
1. Executive Summary | Mobile Messaging Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Hardware 5.2. Software 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 6.1. Platform 6.2. A2P Service 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 7.1. On-premises 7.2. Cloud 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Banking, Financial Services, and Insurance 8.2. Retail and E-commerce 8.3. Hyperlocal Business 8.4. Healthcare 8.5. Travel and Hospitality 8.6. Other End Users 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Verizon 19.2. Mblox 19.3. Twilio, Inc. 19.4. AT&T 19.5. Beepsend 19.6. CLX Communications 19.7. Dialogue Communications Ltd. 19.8. Infobip Ltd. 19.9. Mahindra Comviva 19.10. Tata Communications Ltd. 20. Assumptions & Acronyms Used 21. Research Methodology
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Mobile Messaging Market
