SMS Firewall Market Forecast, Growth, Share, Driver, Tech Trends, Materials, Demand by 2027
Overview:
The global SMS firewall market is touted to reach USD 3.31 Bn mark by 2023, at a staggering growth rate of CAGR 10.5% from 2017 to 2023, Market Research Future (MRFR) reports. The SMS firewall works with various mobile network operators and SMS aggregators to ensure a hassle-free service. Preventing illegal SMS traffic and stopping probable data leakage are some of the key SMS firewall functions.
Drivers and Restraints:
With various media & entertainment sectors, government, BFSI, and others SMS as a medium to disseminate information, installation of SMS firewall has become of prime importance. The rise in application to person (A2P) SMS, stringent government measures, and growing concern regarding safety and security have opened up avenues for the global SMS firewall market. Other advantages, such as enhanced customer experience, high adaptability, reduced operational cost, fast implementation can also impact the global market growth in a significant way.
However, lack of technical expertise in programming SMS firewalls and anomaly in functionality can deter the predicted global market growth rate.
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Segmentation:
The global SMS firewall market has been segmented by SMS type, service, organization, and end-user.
By type, the segments are, application to person (A2P), person to application (P2A), and others. The A2P segment is touted to grow the maximum during the forecast period (2016-2023). Almost all the industry verticals are now relying on A2P such as banking, finance, travel, and healthcare. These type of SMS are spam free and expected to take the global market demand to new levels.
Service-wise segmentation includes SMS, A2P SMS, SMS fraud, unstructured supplementary service data (USSD), send routing info, signaling errors, and others. USSD is quite similar to that of SMS service, but it comes with a specific time frame within which the transaction can only take place. A2P SMS have various implementations, such as alerts, one-time passwords (OTP) verifications, and promotional messages.
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