A recent study by Verified Market Research found SMS marketing software market is on a substantial growth trajectory.
The Global SMS marketing software sector was valued at $5,592.88 million in 2020. By 2028, it is expected to reach $24,687.10 million, growing at a CAGR of 20.40% from 2021 and 2028. This considerable growth can be attributed to the growth in demand for marketing automation software, increase in online shopping behaviour and availability of cloud-based solutions at a low price.
The study finds that the continuously growing demand for marketing automation software is boosting the growth of the SMS marketing software market. Additionally, SMS marketing software helps marketers build and manage subscriber lists, send mass text campaigns, and automate customer engagement.
According to Verified Market Research, factors such as low consumer response rate and limited messaging space inhibit the growth of the SMS marketing software market. But, the advancement of AI-enabled SMS marketing tools and untapped potential in emerging marketers offer favourable growth opportunities.
[5 minute read]
Discover the top organisations in your market and industry that have customers buzzing using YouGov BrandRankings