Mobile Value Added Services Market Trends 2023- Global Industry Share, Revenue, Growth Drivers, Key Players and Business Challenges till 2033: SPER Market Research
Mobile phones and tablets have become an essential part of everyday life. Service providers use such handheld devices to provide every required service in a human’s daily life, such as communicating via phone calls, sending emails, messages, video calls, and so on. Mobile value-added services (MVAS) are a collection of such services. MVAS refers to anything that mobile offers people in addition to their core deals. Mobile added value services include music, VAS services, m-education, video search, infotainment, and social networking apps like Facebook Messenger and WhatsApp, as well as online gaming, music, sports, missed call alerts, and so on. All of these services add value to the use of mobile devices.
According to SPER market research, Mobile Value Added Services (MVAS) Market – By Solution, By Vertical, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Mobile Value Added Services (MVAS) Market is predicted to reach USD 3,333.93 billion by 2033 with a CAGR of 14.41%.
The increased use of smartphones, combined with high Internet penetration around the world, is having a significant impact on the growth of the global mobile value added services market. In addition, the introduction of 3G and 4G network services, as well as fixed Internet subscriptions, are contributing to the growth of the MVAS market. People’s increasing reliance on the internet for activities such as gaming, ticket booking, movie viewing, payment processing, and office work via mobile phones is driving market demand for such services.. Another significant growth-inducing factor is the increasing preference, particularly among young people, for value-based content via over-the-top (OTT) media services to access creative content while on the go.
The lack of guidelines and regulatory framework for various market players of mobile value-added services (MVAS) may limit and restrict users’ ability to use mobile value-added services. As technology advances and new innovations emerge, it is critical to protect the data and information of value-added service users. Lack of privacy is the primary challenge confronting the mobile value-added service market. Furthermore, a lack of government initiatives and limited consumer authentication options for services that require the exchange of sensitive information, such as payments, may limit market growth.
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Impact of COVID-19 on Mobile Value Added Services (MVAS) Market
Furthermore, Despite the COVID-19 disruption, mobile value-added services (MVAS) continue to gain market prominence. MVA services were already having a big influence on the telecom sector before the pandemic. The pandemic has accelerated digitization and increased remote activities, as well as had an impact on corporate spending on ICT networks and services. As a result, investments in the mobile value-added services industry have increased. Global industry players are providing digital communications infrastructure to governments and health authorities in an efficient manner. Through a variety of mobile channels, the MVAS messaging ecosystem enables healthcare providers to disseminate real-time public health notifications and citizens to schedule appointments for COVID-19 tests and other services.
Mobile Value-Added Services Market key players
Geographically, Asia Pacific had the largest market share due to the growing use of mobile technology. Aside from that, the increasing adoption of smartphones among individuals is providing a positive market outlook for the region. Additionally, some of the market key players are Alphabet Inc., Apple Inc., Comviva Technologies, Huawei Investment & Holding Co. Ltd. and Mozat, One97 Communication.
Mobile Value Added Services (MVAS) Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Solution: Based on the Solution, Global Mobile Value Added Services (MVAS) Market is segmented as; Location Based Service, Mobile Advertising, Mobile Email & IM, Mobile Infotainment, Mobile Money, Multimedia Messaging Service and Others.
By Vertical: Based on the Vertical, Global Mobile Value Added Services (MVAS) Market is segmented as; Education, Government, Healthcare, Retail, Media and Entertainment, Telecom & IT and Others.
By End User: Based on the End User, Global Mobile Value Added Services (MVAS) Market is segmented as Large Enterprises and SMB.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Mobile Value-Added Services Market Share
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