Press release
Mobile Value Added Services Market Set to Reach $1892.3 Billion by 2029 with 0.15423798691693% Yearly Growth
Mobile Value Added Services Market
Global expansion in smartphone user demographics is bolstering the mobile value-added services market. This surge in smartphone usage is connected to factors such as enhanced internet access, escalating income brackets, increased social media memberships, and augmented communication necessities among others. The COVID-19 health crisis contributed significantly the escalation in smartphone use, stimulated by extended lockdown periods and remote work set-ups. This rising trend in smartphone users will propel the need for mobile value-added services, that aid smartphones in providing integral facilities like messaging, communication, entertainment, e-commerce, etc. A case in point is the statistics presented by British Broadcasting Corporation (BBC) in April 2024 which highlights that the portion of kids aged 5 to 7 using messaging services saw an increase from 59% to 65%, while the social media count raised from 30% to 38%, and livestream engagement rose from 39% to 50%. Notably, there is an admission of over half of under-13s making use of social media surpassing the permitted age norms of major platforms, resorting to falsification to attain access to new applications and amenities. Consequently, this global uptick in smartphone users will inevitably fuel the growth of the mobile value-added services market.
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How will the growth rate of the mobile value added services market shape industry trends by 2034?
Recently, we've seen a swift expansion in the market size of mobile value-added services. It is projected that its size will elevate from $960.55 billion in 2024 to $1066.12 billion in 2025, displaying a compound annual growth rate (CAGR) of 11.0%. Factors like the increase in mobile usage and the expanding subscriber base, the proliferation of smartphones and data consumption, the evolution of the mobile app ecosystem, SMS and messaging services, as well as mobile content and entertainment have considerably contributed to its historical period growth.
Expectations are that the mobile value added services market will experience a significant expansion in the coming years, with projections suggesting a growth to $1892.29 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.4%. This growth forecast is influenced by various factors including the emergence of the Internet of Things (IoT) and connected devices, the advent of edge computing, the growth of mobile e-commerce, the continued expansion of mobile health services, and cross-industry collaborations. Upcoming trends within the forecast period encompass the adoption of 5G technology, the incorporation of augmented reality (AR) and virtual reality (VR), the advancement of mobile health and wellness services, innovative developments in mobile gaming, and the broadening of mobile learning and educational technology (edtech) sector.
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What trends are poised to drive the future success of the mobile value added services market?
The trend of strategic collaboration is significant in the mobile value-added services sector. Main firms are honing in on these partnerships to utilize each other's skills, technology, and resources to provide improved and innovative mobile value-added services to consumers. These alliances also enable businesses to penetrate new markets and grow their operations. For example, in December 2022, Algerian telecom operator Djezzy joined forces with Algeria Telecom, another telecom company from Algeria, to enhance the service quality for each firm's clientele and ease services exchange between them. The main focus of this collaboration is to share value-added services, contributing to the progress of Algeria's ICT industry and enhancing living standards.
Which primary segments of the mobile value added services market are driving growth and industry transformations?
The mobile value added services market covered in this report is segmented -
1) By Solution: Mobile Advertising, Location-Based Services, Mobile Infotainment, Mobile Email And IM, Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Mobile Money, Other Solutions
2) By Store: Google Play, App Store (iOS), Other Stores
3) By End-user: Individual, Enterprise
Subsegments:
1) By Mobile Advertising: In-App Advertising, Mobile Search Advertising, SMS And MMS Advertising, Mobile Video Advertising
2) By Location-Based Services (LBS): Navigation And Mapping Services, Geofencing Services, Location-Based Promotions, Asset Tracking Services
3) By Mobile Infotainment: Mobile Gaming, Streaming Services (Video And Music), News And Information Apps, Social Media Integration
4) By Mobile Email And Instant Messaging (IM): Mobile Email Clients, Instant Messaging Apps, Group Messaging Services, Push Notifications
5) By Short Messaging Service (SMS): Promotional SMS, Transactional SMS, SMS marketing, Alert And Notification Services
6) By Multimedia Messaging Service (MMS): Picture Messaging, Video Messaging, Group MMS, Promotional MMS Campaigns
7) By Mobile Money: Mobile Wallets, Mobile Payment Solutions, Peer-To-Peer Payment Services, Mobile Banking Services
8) By Other Solutions: Mobile Health Services (mHealth), Mobile Learning (mLearning), Mobile Customer Support, Mobile Security Services
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Which geographical regions are pioneering growth in the mobile value added services market?
North America was the largest region in the mobile value-added services market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the mobile value added services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the mobile value added services market landscape?
Major companies operating in the mobile value added services market include Apple Inc., OnMobile Global Limited, Google LLC, AT&T Inc., Vodafone Idea Limited, Verizon Communications Inc., China Mobile Limited, Reliance Jio Infocomm Limited, Bharti Airtel Limited, Spice Digital Limited, Comverse Technology Inc., One97 Communications Ltd, Kongzhong Corp., InMobi, America Movil SAB DE CV, Cisco Systems Inc., Comviva Technologies Ltd., Huawei Technologies Co. Ltd., Monty Mobile, Reliance Industries Limited, Axiata Group Berhad, Telefonica S. A., MTN Group Limited, NTT DOCOMO INC., SK Telecom Co. Ltd., SoftBank Group Corp., Telstra Corporation Limited, Zain Group, Deutsche Telekom AG, Saudi Telecom Company
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What Is Covered In The Mobile Value Added Services Global Market Report?
•Market Size Forecast: Examine the mobile value added services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the mobile value added services market for a structured understanding.
•Key Players Overview: Analyze major players in the mobile value added services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the mobile value added services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the mobile value added services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the mobile value added services market.
•Industry Challenges: Identify potential risks and obstacles affecting the mobile value added services market.
•Competitive Landscape: Review strategic developments in the mobile value added services market, including expansions, agreements, and new product launches.
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