Hampshire, UK – A new study by Juniper Research, the foremost experts in telecommunications markets, revealed the vendors who currently lead in the mobile messaging market.

The report assessed 27 mobile messaging vendors against a set of criteria, including the strength of their messaging solutions, company standing, and their breadth of support for emerging technologies, including RCS, APIs, and conversational AI.

The leading 3 platforms for 2024 are:

1.      Infobip

2.      Vonage

3.        Sinch

The research identified Infobip’s substantial investment in conversational AI as key to retaining its market-leading position. Conversational AI will be critical in maintaining revenue in this volatile market as demand for mobile messaging traffic migrates from SMS to channels that can leverage chatbots, such as RCS and OTT business messaging.

Research author Georgia Allen remarked, “The established mobile messaging ecosystem is under threat. High termination prices are driving enterprises to explore other channels. Vendors must capitalise on changing market conditions and ensure they provide emerging channels like RCS and APIs, or risk losing revenue to competing platforms.”

Diversification Needed in a Shrinking Market...

In terms of market strength however, Juniper Research forecasts that SMS global revenue will shrink from $66bn in 2024 to $47bn in 2029; a substantial 28% decline. This shift is being driven by the rise of commercially available alternatives in the face of rising SMS termination fees and high levels of fraud.

Channels, such as RCS and communications APIs, provide an alternative option for enterprises currently using SMS for authentication and identity.

An extract from the new report, Global Mobile Messaging 2024-2029, is now available as a free download.