In just a few years, billions of consumers transitioned from largely static and monochromatic P2P SMS messaging to the rich, engaging and entertaining experience of chat apps. Carriers charged high fees for P2P SMS messages, Chat Apps provided an inexpensive alternative, and millions of people flocked to them to avoid those high carrier fees. The rapid shift to chat apps resulted in a significant downward impact downward impact on global carrier revenues to the tune of $33 billion in 2013...
The top 10 chat apps driving this shift have acquired over 2 billion users. There are likely another 150+ smaller players in niche segments globally. Collectively, chat apps are beginning to challenge social networks as the most popular way to communicate and stay in touch - IDC says chat applications are the future of social networking.
Most major countries have a dominant player, with WhatsApp and Facebook Messenger holding a lead in many markets outside of Northern Asia, North America and the Middle East. Asia is monopolized by WeChat/Weixin in China, LINE in Japan, Taiwan and Thailand, Kakao in Korea, and Viber in multiple countries across the globe.
After growth, comes money
After chat apps acquired their huge customer base, they began exploring ways to monetize, initially by selling virtual goods like games and stickers (e.g., emoticons). Now, messaging apps are moving into new, innovative sources of revenue while looking for ways to solidify their position in their core markets...
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Chat apps taking over the world | Enterprise Innovation
