Mobile Value-Added Services Market
According to a new report published by Allied Market Research, The mobile value-added services market was valued at $658.5 billion in 2021, and is estimated to reach $2226.2 billion by 2030, growing at a CAGR of 14.2% from 2022 to 2030.
In the telecom sector, value-added services are referred to as non-core services. Mobile Value-added Services (MVAS), is a term used in telecommunications to describe digital services introduced to mobile phone networks other than voice services offered by content providers or through joint ventures with them. MVAS are available and are not included in the basic voice offers.
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These services are employed as a strategy for differentiation and allow mobile devices to be used independently by the end-user operators to create a new source of income, which is a major factor estimated to drive the mobile value-added services market demand in the upcoming years. According to mobile value-added services market analysis, mobile value-added services are constantly evolving with the introduction of new mobile applications beyond basic services, such as social media applications, Over-the-top (OTT) platform services, mobile banking, and others.
However, the mobile value-added services market still faces significant obstacles such as biased revenue share model where revenue is shared with different contributors, which is a serious challenge for the telecom industry to share revenue as this sector does not produce any content. Also, lack of technical capability and security of customers’ data are the major restraining factors that are anticipated to hamper mobile value-added services market growth.
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The massive rise in mobile user base and high mobile phone usage is anticipated to increase mobile value-added services market opportunity. This is because of mobile phones are also heavily used for entertainment on the go. For instance, watching movies, playing games, watching news, cricket scores, money transfer, and others.
Another significant driver for mobile value-added services is the rollout of 4G and 5G network services because it necessitates the deployment of new services that will draw more users to the operator. With the rollout of new technology innovation in field of the telecommunication sector, content providers are now focusing on supplying fresh, interesting material that draws customers, and provides better customer service. These factors are anticipated to boost the mobile value-added services market size in the upcoming years.
The global mobile value-added services market share is segmented based on solution, end-user, vertical type, and region. By solution, it is classified into Short Messaging Services (SMS), Multimedia Messaging Services (MMS), location based services, mobile email & instant messaging, mobile money, mobile advertising, mobile infotainment, and others. By end-user, it is classified into small & medium enterprise and large enterprise. By vertical type, it is classified into media & entertainment, healthcare, education, retail, government, telecom & IT, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key players profiled in the mobile value-added services industry report include Mozat, Apple Inc., Vodafone Group plc, Samsung Electronics Co. Ltd., Reliance Industries Ltd., Huawei Investment & Holding Co. Ltd., Onmobile Global Limited, Comviva Technologies, Alphabet Inc., and One97 Communication.
The report offers a comprehensive analysis of the global mobile value-added services market forecast trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to growth of the market.
Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
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Impact of COVID-19 on the Global Mobile Value-added Services Industry
1. During the COVID-19 pandemic, governments of various countries imposed restrictions such as social distancing due to which healthcare professionals were facing issues but with the help of mobile value-added services healthcare professionals were able to provide medical consultation by using value-added services to evaluate and treat patients.
2. The mobile value-added services messaging infrastructure enables healthcare professionals to distribute real-time COVID-19 test appointment reminders and other services via multiple mobile channels.
3. It also helps the government and health authorities to provide updates regarding the norms and precautions to be taken by the people to protect themselves from COVID-19 during the pandemic period.
Key Findings of the Study
1. Based on the solution, the Short Messaging Service (SMS) sub-segment emerged as the global leader in 2021 and the mobile money sub-segment is anticipated to be the fastest-growing sub-segment during the forecast period.
2. Based on end-users, the large enterprises sub-segment emerged as the global leader in 2021 and the small & medium enterprises sub-segment is predicted to show the fastest growth in the upcoming years.
3. Based on vertical type, the government sub-segment emerged as the global leader in 2021 and the telecom & IT sub-segment is predicted to show the fastest growth in the upcoming years.
4. Based on region, the Asia-Pacific market registered the highest market share in 2021 and European market is predicted to show the fastest growth in the upcoming years.
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