Mobile Value Added Service Market to Undertake Strapping Growth During 2017 - 2022

The global mobile value added service market is growing at a brisk pace due to the rapid usage and increasing penetration of smartphones. The demand for value added services is growing in the users of mobile phones who have a great need for connectivity and portability. Mobile phones are not only used for making calls and they have turned into multipurpose devices that can enable the users to access apps, read the news, web surfing, checking e-mails and social media interaction. As the world is moving towards faster telecommunication services and high rate of internet penetration, the market for mobile value added services is bound to increase. One of the latest trends in the arena of mobile value added services is the emergence of location-enabled mobile value added services. With the help of location based services, consumers can get real-time directions to locations they want to explore, they can also avail weather forecasts and updates on traffic right from their mobile devices. Such type of location based services are also used by advertisers to generate notifications when the consumer is in the vicinity of their shop and they can instantly give an offer on shopping to such location specific customers. This is just one of the facets of mobile value added services and such kind of services have vast areas of application.

According to the assessment of Persistence Market Research, the global mobile value added service market is forecasted to reach a figure of about US$ 698,900 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.

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Mobile phones are now being used as a multipurpose device that have a powerful utility and infotainment potential rather than just used for making voice calls. From just a click of a button, one can find nearby restaurants, pay bills, receive latest breaking news and stock updates, and much more. The potential for mobile value added service market is endless. On top of this, there is a rapid increase in the usage of social networking applications and mobile banking and payments, and this is also giving a huge boost to the mobile value added service market. Furthermore, introduction of faster communication services are opening up the gates for new opportunities in this market. There is a great demand for entertainment services provided through mobiles and this generates opportunities in the on-demand music and video, specialized content in the local language and beaming of live television shows and sports events on mobiles. There is another segment of revenue which consists of caller tunes, contests that are based on SMS and subscription based alerts. As the popularity of smartphones increases and their prices decrease, consumers want more and more value added services on their mobiles for which they are willing to pay. Due to such factors, the market for mobile value added service is witnessing a sharp rise in demand.

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4 Forecast Highlights on Global Mobile Value Added Service Market

As per the forecast of Persistence Market Research, the wireless application protocol segment is slated to touch a value of nearly US$ 221,000 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The wireless application protocol segment is estimated to account for more than one-fourth of the revenue share of the platform segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.

As per the forecast of Persistence Market Research, the enterprise end user segment will reach a value of about US$ 122,400 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The enterprise end user segment is forecasted to account for nearly one-third of the total revenue share of the end user segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.

As per the forecast of Persistence Market Research, the mobile browsing segment is slated to reach a value of more than US$ 167,300 Mn in 2022. The mobile browsing segment is expected to lose market share by the end of the year 2022. The largest share is contributed by the North America region in the mobile browsing segment.
Persistence Market Research forecasts the U.S. mobile value added service market to exhibit a compound annual growth rate (CAGR) of nearly 9% from 2017 to 2022.

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