Mobile Value-Added Services Market Growth 2023, Size, Rising Trends, Revenue, Competitive Analysis and Future Scope 2033: SPER Market Research
Value-added services in the telecom industry are non-core services that complement the core products. Mobile value-added services (MVAS) specifically pertain to features that can be added to the primary product, provided by mobile operators themselves or through third-party mobile service providers, in addition to voice communication services. These services, such as text messages, missed call alerts, call forwarding, and call blocking, are aimed at improving the user experience by offering additional functionalities.
According to SPER market research, ‘Mobile Value-Added Services Market Size By Vertical, By Solution, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Mobile Value-Added Services Market is predicted to reach USD 3329.6 billion by 2033 with a CAGR of 14.46%.
The mobile value-added services (MVAS) market is experiencing growth due to the introduction of new and innovative customized mobile apps and services. Telecom operators and service providers worldwide are catering to changing consumer needs by offering these offerings. The market is expanding as the number of MVAS subscribers and smartphone users increases, with a rising demand for personalized value-added services from businesses and consumers.
The proliferation of smartphones globally is a key driver for the mobile value-added service market. The presence of multiple vendors and competition among internet service providers has led to increased use of digital solutions, advanced applications, and value-added services. Smartphones now serve various purposes such as using applications, browsing the internet, sending emails, and engaging on social media. MVAS enhances the user experience by providing additional services alongside voice, SMS, and data services. Affordable smartphones have also contributed to increased adoption among lower-income populations, driving the demand for mobile value-added services.
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The forecasted period presents significant growth opportunities for mobile value-added services across various industries. The COVID-19 pandemic has accelerated digitization and remote activities, prompting businesses to seek new payment products and features for their employees. Additionally, the penetration of 5G and cloud-based gaming is expected to create substantial market prospects for mobile value-added services.
In addition, global mobile value-added services market faces challenges related to technological advancements, competition, privacy and security, regulations, affordability and accessibility, and customer loyalty and retention are crucial challenges in the VAS market. With so many options available to consumers, providers need to offer compelling and valuable services that keep customers engaged and satisfied. This requires constant improvement and innovation to meet evolving customer expectations. Understanding and addressing these challenges is essential for VAS providers to thrive in this dynamic market.
Furthermore, some of the market key players are Alphabet Inc., Apple Inc., Comviva Technologies, Huawei Investment & Holding Co. Ltd., Mozat Pte Ltd, One97 Communications, OnMobile Global Limited, Reliance Industries Ltd., Samsung Electronics Co. Ltd., Vodafone Group plc, Others
Global Mobile Value-Added Services Market Segmentation:
By Vertical: Based on the Vertical, Global Mobile Value-Added Services Market is segmented as; Media and Entertainment, Healthcare, Education, Retail, Government, Telecom and IT, Others.
By Solution: Based on the Solution, Global Mobile Value-Added Services Market is segmented as; Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Location Based Services, Mobile Email & IM, Mobile Money, Mobile Advertising, Mobile Infotainment, Others.
By End User: Based on the End User, Global Mobile Value-Added Services is segmented as; SMB, Large Enterprises.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
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 Future Share
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