by Bulk SMS marketing services provide marketers with an effective platform to reach customers on their mobile devices through text messages. These services enable sending of promotional messages and alerts to large numbers of recipients simultaneously. SMS marketing helps businesses connect with their customer base on a personal level and also delivers promotional content directly to the receivers. Marketing agencies are widely utilizing bulk SMS services for sending one-way notifications about new product launches, discounts, incentives, events and location-based alerts to targeted subscriber lists. Additionally, organizations across various industry verticals including banking, ecommerce, travel and tourism are leveraging SMS as an effective communication channel for transactional notifications, payments reminders and customer support.
The global Bulk SMS Marketing Services Market is estimated to be valued at US$ 4.95 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Rise of Artificial Intelligence: Integration of artificial intelligence technologies in bulk SMS platforms is one of the key trends gaining traction in the bulk SMS marketing services market. AI capabilities help businesses to personalize messages, analyze customer behavior and send reminders or upsells basis individual preferences and purchase history. This drives higher customer engagement and conversions for marketers. AI-powered SMS marketing platforms also enable businesses to build customer profiles with attributes like location, past purchases, timings etc. which helps send the right message to the right audience at an optimal time.
Growth of Omnichannel Marketing: Businesses are innovating their marketing strategies to provide seamless experiences to customers across different channels including mobile, web, tablets, call centres etc. Bulk SMS services provide an important channel for omnichannel campaigns as it allows sending personalized messages based on customer journey and past engagements. SMS also acts as a re-engagement channel for supporting other marketing initiatives. This trend is expected to drive demand for more advanced SMS platforms that offer integrated omnichannel functionalities along with analytics.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the bulk SMS marketing services market size is moderate. New companies need significant capital for bulk SMS infrastructure, partnerships and client acquisition. However, SMS marketing has low initial setup costs which could allow startups to emerge.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various bulk SMS providers. However, buyers prefer providers with better technology, services and support.
Bargaining power of suppliers: Technology companies providing SMS APIs have high bargaining power due to limited alternatives and technology differentiation. Switching costs for buyers are also moderate.
Threat of new substitutes: New communication channels like messaging apps pose a potential threat. However, SMS still has the widest reach and is compatible with basic phones.
Competitive rivalry: The market is fragmented with global and local players. Competition is based on pricing, offerings, reach and customer service.
Key Takeaways
The global bulk SMS marketing services market is expected to witness high growth. The market is driven by increasing mobile phone penetration, rising demand for low-cost digital marketing and better ROI compared to traditional channels. The global Bulk SMS Marketing Services Market is estimated to be valued at US$ 4.95 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific region dominates the bulk SMS marketing services market currently due to large population base and increasing internet and smartphone adoption. China, India and Southeast Asian countries offer massive opportunities. North America and Europe are also major markets driven by tech-savvy customers and organizations.
Key players: Key players operating in the bulk SMS marketing services market are Agilecrm.com, Bitrix, Inc, Celerity Systems (Pty) Ltd, ClickSend, directSMS, Dove Soft Pvt Ltd., Exotel Techcom Pvt. Ltd, IMImobile, King Digital Pvt. Ltd., MessageBird, Osumare, SendPulse, Text Marketer, TextMagic Ltd, and others. These players compete based on technology, offerings, reach and pricing. Major players are focused on expanding into emerging markets and building partnerships.
