KUALA LUMPUR, Jan 25 (Bernama) -- Global Over the Top (OTT) business messaging traffic will rise from 93 billion in 2023 to 254 billion by 2027, according to a new Juniper Research study.
In a statement, Juniper Research said this growth of 172 per cent will be driven by increased availability of open OTT messaging APIs and competitive pricing models, creating a viable rich media alternative to established operator-led channels, such as SMS.
OTT business messaging enables brands and enterprises to communicate with customers via the use of third-party messaging applications, such as WhatsApp and WeChat.
The research identified consistently low OTT business messaging pricing as a key driver of adoption by Communications Platforms-as-a-Service (CPaaS) platforms.
As OTT messaging pricing is set by the platform itself rather than operators, this provides a far less volatile pricing model compared to SMS.
The research predicted that the advanced security and rich media properties of OTT business messaging will attract high-spending enterprise users to leverage these services.
It also identified that the increased processing and strict channel verification systems of OTT messaging applications will be key to ensuring OTT communications are not susceptible to the same fraudulent activity found on channels such as SMS.
Additionally, it urged CPaaS platforms to develop advanced security features, including artificial intelligence (AI)-based fraud prevention, that go beyond the capabilities of the OTT messaging channel to provide value-added services for enterprises.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
-- BERNAMA
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