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Growing Employment Rate to Benefit BFSI A2P SMS Market in Switzerland

Wednesday, 02 March 2016 07:03

- Ankit Jain

Application-to-person (A2P) is a form of SMS that is sent from a web application to a person (mobile subscriber). The banking, financial services, and insurance (BFSI) industry is the most common end-user of this technology around the world. Some of the common uses of the A2P SMS in the BFSI industry are money transfer, bill payments on different banks’ merchant sites, one-time password (OTP), and several other messages that are associated with banking transactions. In 2014, the BFSI A2P SMS market in Switzerland was worth US$130.6 mn and is anticipated to be US$262.5 mn by the end of 2013. This market is expected to exhibit an 8% CAGR between 2015 and 2023.

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Growing Mobile Banking Activities to Drive A2P SMS Market in BFSI Industry

A2P SMS allows different organizations and companies to reach a larger audience of every age across various mobile phones and service operators at a very less cost. Hence, this market offers potential growth opportunities in the coming years. The increased mobile banking activities have accelerated the marketing operations of application developers, which have boosted the demand for A2P SMS in the BFSI industry. In addition, the BFSI industry in Switzerland has observed substantial growth in demand for various A2P SMS applications including one-time passwords, bank account updates, and payment confirmations. The growing number of mobile subscriptions in Switzerland is allowing the BFSI industry to reach the targeted audience effectively, fueling the A2P SMS market for the BFSI industry in Switzerland. Moreover, the increasing employment rate in Switzerland is further fuelling this market as new bank accounts in the form of corporate bank accounts, salary accounts, and intern accounts will need to be created.

On the other hand, the declining banking industry in Switzerland is one of the major factors that is expected to hamper the growth of the Switzerland BFSI A2P SMS market by marking down the client base A2P SMS providers in the next few years. Similarly, the introduction of disruptive applications and innovative technologies in the BFSI industry is further expected to curb the market’s growth till 2023.

Customer Relationship Management Applications Led A2P SMS Market for BFSI Industry in Switzerland in 2014

The A2P SMS market for the BFSI industry in Switzerland can be segmented on the basis of applications into customer relationship management, interactive services, promotional campaigns, pushed content services, and inquiry related services. In 2014, the customer relationship management (CRM) segment dominated the A2P SMS market for the BFSI industry in Switzerland in terms of revenue, holding a 32.6% share in the market. On the other hand, the promotional campaigns segment is anticipated to register a healthy 10% CAGR between 2015 and 2023. The rapid growth of this segment is due to the innovative and new banking services and products including different mobile banking apps.

The prominent players operating in the A2P SMS market for BFSI industry in Switzerland include Symsoft AB, Dialogue Communications Ltd., Ogangi Corporation, AMD Telecom S.A., GMS, Infobip Ltd., Silverstreet BV, mBlox, Inc., Beepsend AB, FORTYTWO Group Ltd., and Syniverse Technologies, LLC. Analyzing the lucrative potential of the A2P SMS market for BFSI industry in Switzerland, many new players will venture into this market in the next few years.

Browse the full Market Research Report at                                                                                     http://www.transparencymarketresearch.com/switzerland-bfsi-a2p-sms-market.html