Mobile Value-Added Services Market Overview
The Mobile Value-Added Services Market will obtain a value of USD 731.25 Billion and a CAGR of 14.3% between 2020-2030.
Users of smartphones and tablets have raised the need for communication services. As a result, more people are using social networks, mobile applications, and the internet. These elements are driving the growth of the mobile value-added services market. One of the key drivers driving the market's growth is the world's rapid urbanization, which includes a significant rise in smartphone users. Furthermore, the expanding use of 3G and 4G services, which has aided in the widespread use of the internet, is boosting market expansion.
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Mobile Value-Added Services (MVAS) are services offered by mobile service providers in addition to their core voice communication services. These services are designed to add value to their core offerings, typically by providing additional features or services on top of their existing voice communication services. Examples of MVAS include short message service (SMS), multimedia messaging service (MMS), mobile internet services, mobile gaming, location-based services, mobile banking, and many more. MVAS are becoming increasingly popular as mobile operators look for ways to enhance their customers’ experience and increase their revenue streams.
Moore's law asserts that integrated circuit capability doubles every two years and lowers the costs of producing consumer electronics items, which conflicts with advancements in the electronics sector. Mobile value-added service companies may now serve the middle, and lower classes of society since the cost of mobile phones, cell phones, tablets, and similar items has dropped significantly. As a result, the worldwide market for mobile value-added services is expected to generate significant market revenue due to the growing smartphone user base. Users may be discouraged from adopting mobile value-added services due to a lack of knowledge and a restrictive regulatory environment for many market competitors.
Another significant growth-inducing aspect is the rising preference for value-based content among young people, particularly in the form of OTT media services to access cutting-edge substances. In addition, the growing trend of digitalization across sectors is encouraging expectations for market expansion.
Mobile Value-Added Services Market segmentation
The Mobile Value-Added Services Market is divided into different segments.
Healthcare, BFSI, Telecom and IT, Media and Entertainment, Government, Retail and Consumer Goods, and Others are the market segments based on vertical. Throughout the projection period, it is projected that the demand for premium content, novel SMS services, and an increase in Internet services would propel the expansion of mobile value-added services. The market is divided into large companies, small and medium businesses, and end-users. The market for international mobile value-added services offered by large companies is expanding the quickest. Large businesses can lower their operating expenses while raising their profit margins. The main advantage of a large economy is that it creates possibilities and supports the growth of huge corporations.
Mobile Advertising, Location Based Services, Mobile Infotainment, Mobile Email IM, Short Messaging services, Multimedia Messaging services, Mobile Money, and Others are the market segments based on the solution types. In terms of worldwide mobile value-added services, mobile money dominates.
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By Type
- Short Message Service (SMS)
- Voice Data Value-Added Services (VAS)
By Product
- Mobile Games
- Mobile Music
- Mobile Wallet
- Mobile Commerce
- Mobile Advertising
- E-Mail IM
- Others
By Store
- Google Play
- App Store (iOS)
- Others
By Vertical
- BFSI
- IT telecommunication
- Retail
- Government
- Healthcare
- Media Entertainment
- Others
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
Mobile Value-Added Services (MVAS) Market Regional analysis
North America now dominates the worldwide market for value-added services and will keep this position during the evaluation period. The MVAS market in the area is driven by several MVAS providers offering services to organizations and vertical markets and advancements in value-added telematics techno.
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Recent developments
Weiyouxin Technology is a private domain SaaS software operation services provider. In January 2021, ZW Data Action Technologies, Inc, a provider of data analytics, digital advertising, precision advertising, and other value-added services, announced plans to invest in Weiyouxin Technology.
In January 2021, Netcracker Technology said that Tiscali, an Italian telecom service provider and longtime partner, had contributed to the advancement of its BSS operations by providing 5G and other services, such as online rating and payment, across all of its lines of business.
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