Social networks are partly to blame
It seems like everywhere you go today people are on their smartphones sending and receiving text messages, making phone calls, and looking at social networks. A recently published research report found that in Q3 of 2012 messaging revenue and the total volume of text messages sent declined in the US for the first time. The report attributes some of the decline in text messaging to the rise of IP messaging.
IP messaging apps, such as Apple's iMessage allows users to send messages back and forth without having to pay the carrier using Wi-Fi. Another contributing factor to the reduction in number of text messages sent is significant increase in the use of twitter, Facebook, and other social networks.
Many people, particularly younger users, our increasingly communicating via tweets or Facebook updates. This may not surprise some people. Some analysts on Wall Street believed that text messaging had peaked in June of 2011.