Mobile Value-Added Services Market 2022 | Increased Use of Mobile Applications and Mobile Web

According to Precision Business Insights (PBI), the latest report the global mobile value-added services market is expected to be worth USD 651.4 billion in 2021 and projected to grow at an 14.3% CAGR over 2022 to 2028. The coronavirus pandemic has triggered a chain of extraordinary events affecting every business. With the new coronavirus epidemic's ongoing spread, companies gradually flattening their recessionary curves by utilizing technology. Many firms will go through periods of response, recuperation, and renewal. Building business resilience and agility will help enterprises move beyond the COVID-19 crisis and into the next normal. Because of the extensive spread of the COVID-19 pandemic, the mobile value-added services (VAS) market is expected to develop throughout the projection period.

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The Short Messaging Services (SMS) Segment is Dominating the Mobile Value-Added Services Market:
The Short Messaging Services (SMS) segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to the growing use of short messaging services, along with the increased use of smartphones, is propelling the market forward. Furthermore, organizations rapidly see the benefit of SMS marketing owing to greater open rates, engagement, and click-through rates. Moreover, the large enterprises sub-segment is second highest to grow at a forecast period due to the large-scale business economy, huge corporations may lower their operating costs while increasing their profit margins. The main advantage of the large business economy is that it creates possibilities and facilitates the expansion of huge firms.

North America Leads Mobile Value-Added Services Market:
North America is expected to hold significant market share in the global Mobile Value-Added Services market and is projected to grow at a prominent growth rate over the forecast years. Increasing smartphone demand, cloud-based solution usage, and rapid technological development drive the North America mobile value-added services market. Moreover, the region's call is driven by the emergence and rise of the Internet of Things (IoT) applications. In Asia Pacific, nations such as India and China are also seeing strong growth in the industry. Factors such as the considerable presence of manufacturers, rapid economic expansion, and increased usage of smartphones, laptops, and other mobile value-added services are driving the Asia Pacific mobile value-added services market. Manufacturers in the Asia Pacific mobile value-added services industry sees lucrative expansion.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Mobile Value-Added Services market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In January 2021, Netcracker Technology announced that Tiscali, an Italian communications service provider, had supported its BSS functions with 5G and other services, including online grading and billing, throughout its lines of business.

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The mobile value-added services market is segmented based on by type, product type, by store, by vertical and geography.
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

Based on geography
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Key player's profiles in the mobile value-added services market report are Merck Animal Health, Ceva Sante AnimalS, Vetoquinol S.A., Zoetis, Boehringer, Ingelheim GmbH, Elanco, IDEXX, Heska Corporation, Covetrus, DRE Veterinary, Mars Inc., Virbac, Televet, Phibro Animal Health Corporation, and B. Braun Vet Care.

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