With a CAGR of about 7.1% between 2023 and 2030, the global messaging platform market is expected to grow from an estimated $10 billion in 2022 to $17 billion by the end of 2030.
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In addition to email, messaging platforms offer a wide range of other communication and collaboration technologies, such as unified communications (UC), instant messaging (IM), security, email archiving and compliance, social media integration, collaboration tools, conferencing, archiving, and retention. There has been a rising need for cutting-edge methods of contact, from email to real-time messaging. Both business and individual users rely heavily on mobile and desktop clients as their key communication centers. As a result, the need for messaging platforms is predicted to increase as they help people with their various communication needs.
Because of the proliferation of mobile devices, people now expect a unified messaging revolution across a variety of virtual platforms in order to carry out their personal and professional responsibilities. The increasing need for highly optimized, touch-enabled mobile interfaces on smartphones and tablets is expected to drive growth in the messaging platform market over the anticipated time frame.
Enterprise social tools have enabled continuous use of social tools for internal objectives like training, recruiting, and internal communication in organizations with a large amount of unstructured data. Over the forecast period, the market is anticipated to develop as a result of the increasing dependence on corporate social tools. Organizations can benefit from e-mail archiving solutions and other digital message platforms when it comes to data security and storage. In addition, they are able to keep up with consumer demands and eliminate time zone barriers by having constant access to emails.
One of the primary development drivers is the increasing need for virtualization in IT. Through the use of virtualization, a company can increase its performance potential with a less investment of resources. The messaging platform market is anticipated to grow at a rapid rate as a result of its usefulness in helping service providers improve administrative efficiency, hardware usage, and economies of scale.
The global messaging platform market has been segmented into deployment, end-user, and geography.
The global messaging platform market is divided into two distinct submarkets, based on deployment type: on-premise and cloud. The cloud-based sector, which is expected to account for the largest share of the global market revenue in the coming years (53.3 percent in 2022), is expanding at a particularly rapid clip. Increased adoption of cloud-based technologies by SMEs is a potential driver of the market’s expansion throughout the forecast period. In addition, the trend toward telecommuting is expected to drive the industry’s growth over the next few years.
The global messaging platform market is divided into two distinct subsegments, serving different types of small and medium-sized businesses and major corporations. In addition, the small and medium-sized business sector, which held a sizable proportion of the global market in 2022, is anticipated to dominate the market during the forecast period. The predicted segment growth during the forecast period may be attributable to the increasing popularity of cloud computing and virtualization among SMBs. Demand for more protection of SME employees’ private information is another factor that will drive growth in this sector.
The global messaging platform market profiles key players such as:
- Openwave Messaging
- Microsoft Corporation
- Oracle Corporation
Over the course of the forecast period, the Asia-Pacific region is expected to continue its status as the world’s largest market for messaging platforms.
Approximately 58% of the worldwide revenue from messaging platforms will come from the Asia-Pacific region by 2022. Rapid expansion in the IT industry and rising awareness of messaging tools among SMEs in developing nations like India and China are also contributing factors to the region’s booming market. In addition, the growth in popularity of cloud-based solutions in these countries will determine the overall direction of the regional industry.
Increased adoption of cutting-edge technology in nations like the United States, as well as the presence of important industry players in both Canada and the United States, point to North America as the region with the quickest CAGR in the messaging platform sector over the coming years. The United States and Canada are expected to be the most lucrative markets in the world in the next years.