Frequently Asked Questions:
Messaging as a platform (MaaP) market also suffered from the COVID-19 pandemic, which resulted in a decline in revenue generated in 2020 due to the temporary suspension of different development projects and many deals also suspended by different industries.
The Asia Pacific accounted for the highest share in the global messaging as a platform (MaaP) market. As smartphone penetration increases, internet services proliferate, and the region’s internet subscribers grow, which can be attributed to the proliferation of smartphones.
Messaging as a Platform (MaaP) market is expected to grow due to major factors such as an increase in the number of smartphones in circulation, a growing market for mobile payments, a growing retail industry, and the use of SMS for marketing and customer relationship management
VoIP had a major share in 2021, with around 50% of the market revenue share. Besides, it is also projected to witness the fastest growth. In addition, government agencies and private businesses are establishing wireless communications infrastructure and adopting cloud-based VoIP services, which are expected to spur the demand for VoIP in the market. The growth of this market is primarily attributed to the cost-effectiveness of cloud-based VoIP services.
The retail segment had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period. As mobile banking and other solutions improve security and provide direct contact with consumers, MaaP is growing in popularity in the retail sector.