Press release
Soaring Demand Set to Propel Mobile Value Added Services Market to $1892.29 Billion by 2029
Mobile Value Added Services Market
What Is the Expected CAGR for the Mobile Value Added Services Market Through 2025?
The market size of mobile value-added services has experienced swift growth in the past few years. The market is projected to increase from $960.55 billion in 2024 to $1066.12 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%. Factors like the growth of mobile penetration and subscriber base, the surge in smartphone usage and data consumption, development of the mobile app ecosystem, SMS and messaging services, and mobile content and entertainment have contributed to the growth in the historic period.
What's the Projected Size of the Global Mobile Value Added Services Market by 2029?
In the coming years, the market size for mobile value-added services is projected to witness significant expansion, reaching $1892.29 billion in 2029 with a compound annual growth rate (CAGR) of 15.4%. The expected growth during the forecast period can be linked to the emergence of IoT and connected devices, the evolution of edge computing, the broadening scope of mobile e-commerce, continued expansion of mobile health services, and collaborations across various industries. Furthermore, major trends for this forecast period involve the acceptance of 5G technology, the incorporation of Augmented Reality (AR) and Virtual Reality (VR), the proliferation of mobile health and wellness services, innovation in mobile gaming, and the enlargement of mobile learning and edtech.
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Top Growth Drivers in the Mobile Value Added Services Industry: What's Accelerating the Market?
The escalation in the number of worldwide smartphone users is a key propellant for the expansion of the mobile value-added services industry. The rise in smartphone demand is motivated by a multitude of elements, including growing internet accessibility, increasing income strata, ballooning social media subscriptions, enhanced communication requirements, among others. The undue span of quarantine and remote-working situations throughout the COVID-19 outbreak has resulted in a significant surge in smartphone utilization. This upswing in smartphone users will consequently bolster the need for mobile value-added services as these services are essential to offer customers the required amenities like messaging, communicating, entertainment, online shopping, etc. For example, reports from the British Broadcasting Corporation (BBC) in April 2024 reveal there was a rise from 59% to 65% in the use of messaging services by children aged between five to seven. Additionally, social media usage increased from 30% to 38% and live-stream engagement shot up from 39% to 50%. What's more, a majority of children below 13 are active social media users, despite it being against the guidelines of several significant platforms, with a large number of children confessing to dishonesty to gain access to newer applications and services. Hence, escalating smartphone users around the globe will boost the growth of the mobile value-added services industry.
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What Trends Will Shape the Mobile Value Added Services Market Through 2029 and Beyond?
The primary trend in the mobile value-added services market is the development of strategic alliances. Major businesses are tuning their focus towards building strategic affiliations, leveraging each other's specialized knowledge, technology, and resources to provide upgraded and innovative mobile value-added facilities to clients. Such alliances also aid businesses in penetrating new markets and escalating their operations. For example, Djezzy, an Algerian telecommunications operator, joined forces with Algeria Telecom, in December 2022 - also of the Algerian telecommunications sector, to upgrade the service quality for both company's clientele and enable smoother service exchanges between the corporations. The ultimate objective of this alliance is to share value-added services, consequently propelling the ICT industry in Algeria and enhancing the standard of living.
What Are the Main Segments in the Mobile Value Added Services Market?
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 Top Companies are Driving Growth in the Mobile Value Added Services Market?
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
Which Regions Will Dominate the Mobile Value Added Services Market Through 2029?
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
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