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Mobile Value-Added Services Market : Current Trends, Growth Prospects| At $2 Billion, by 2030 at 14.2% CAGR
Mobile Value-Added Services Market
Increase in the number of smartphone and tablet users globally, rapid rise in digitalization and consumer embrace of technology, surge in use of mobile applications, and innovation in the field of telecommunication drive the growth of the global mobile value-added services market. Region-wise, the market in Asia-Pacific is expected to maintain its dominance in terms of revenue during the forecast period.
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In the telecom sector, value-added services are referred to as non-core services. Mobile Value-added Services (MVAS), is a term used in telecommunications to describe digital services introduced to mobile phone networks other than voice services offered by content providers or through joint ventures with them. MVAS are available and are not included in the basic voice offers. These services are employed as a strategy for differentiation and allow mobile devices to be used independently by the end-user operators to create a new source of income, which is a major factor estimated to drive the mobile value-added services market demand in the upcoming years. According to mobile value-added services market analysis, the mobile value-added services are constantly evolving with the introduction of new mobile applications beyond the basic services, such as social media applications, Over-the-top (OTT) platform services, mobile banking, and others.
However, the mobile value-added services market still faces significant obstacles such as biased revenue share model where revenue is shared with different contributors, which is a serious challenge for the telecom industry to share revenue as this sector does not produce any content. Also, lack of technical capability and security of customers' data are the major restraining factors which are anticipated to hamper mobile value-added services market growth.
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Covid-19 Scenario:
The outbreak of the COVID-19 pandemic had a positive impact on the mobile value-added services market. The social distancing norms made many people aware of the applications that allow them to buy groceries online. So while shopping, more people opted to pay with their phones rather than using cash or credit cards.
During the pandemic, the mobile value-added services were used to provide various services by financial institutions, governments, education systems, and healthcare service providers to people who suffered from COVID-19.
The MVAS messaging ecosystem allowed citizens to use various mobile channels to book appointments for COVID-19 tests and other services, and it empowered healthcare practitioners to send out real-time public health notifications.
The report offers a detailed segmentation of the global mobile value-added services market based on solution, end-user, vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly one-third of the global mobile value-added services market share, and is likely to maintain its leadership status during the forecast period. However, the market in Europe is expected to manifest the highest CAGR of 14.7% from 2022 to 2030. The other regions analyzed in the study include North America and LAMEA.
Leading players of the global mobile value-added services market analyzed in the research include Mozat Pte Ltd., Apple Inc., Vodafone Group plc, Samsung Electronics Co. Ltd., Reliance Industries Ltd., Huawei Investment & Holding Co. Ltd., OnMobile Global Limited, Comviva Technologies, Alphabet Inc., and One97 Communications.
The report analyzes these key players of the global mobile value-added services market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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