Missed Call Services Market Sales Size Share Forecast 2027

Missed Call Services Market GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2018-2024

REPORT DESCRIPTION Missed Call Services Market – Overview Over the past decade, mobile phones have become multifunctional devices and a convenient way for companies to reach their customers. Companies can reach customers via mobile in several ways such as bulk SMS marketing and missed call services. Missed call services are adopted by companies for the purpose of lead generation, user registration, alert subscription, coupon delivery, conducting surveys, and getting feedbacks. Moreover, several organizations are utilizing missed call services in order to gain feedback from customers or to perform surveys about their products and services. E-commerce companies are using missed call services for cash-on-delivery verification, customer mobile number verification, and mobile validation.

The global missed call services market is expected to grow with a CAGR of 7.4% over the forecast period (2019– 2027) owing to increasing adoption of missed call services by small and medium organizations for lead generation. Moreover, rising usage of cloud-based bulk SMS software is also expected to boost the market growth. However, data security concerns in cloud-based deployment are a major factor restraining growth of the market. Cloud-based deployment solutions store highly sensitive data related to customers' mobile numbers. A security breach can cause huge loss to the organization.

REPORT DESCRIPTION Missed Call Services Market Trend: Growth of the global missed call services market is driven by rising adoption of missed call services by various end-use industries such as BFSI, IT & telecommunication, e-commerce, and retail, for registration of new customers in the company’s database or for re-setting or sending passwords of users’ accounts.

Moreover, an increasing number of mobile users across the globe are boosting demand for missed call services across the globe. For instance, according to the India Brand Equity Foundation on February 2019, India accounts for nearly 30 million smartphone purchases every quarter, and it is expected that mobile phone subscriptions in India would reach 1.4 billion by 2021.

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REPORT DESCRIPTION Missed Call Services Market Taxonomy: Based on function, the lead generation segment is expected to exhibit the highest growth rate over the forecast period, owing to increasing adoption of missed call services across all end-use industries such as e-commerce, hospitality, BFSI, and education. Furthermore, online delivery partners use missed call service for customer’s mobile number verification, customer account activation, and for retrieving account password through a missed call from customer's registered mobile number.

Among deployment type, the cloud based segment is expected to exhibit the highest growth over the forecast period as it requires lower cost and less time for installation as compared to on premise-based deployment option.

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