Mobile Value-Added Services Market Size To Reach Approximately USD 2 Billion by 2030
Mobile Value-Added Services Market
WILMINGTON, DE, UNITED STATES, July 19, 2024 /EINPresswire.com/ -- 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.
Rising demand for mobile phones, increase in mobile application usage, and advancements in telecommunication sector have led to an increase in the demand for mobile value-added services, contributing to the mobile value-added services market growth in the upcoming years.
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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. 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, the mobile value-added services are constantly evolving with the introduction of new mobile applications beyond the 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 which are anticipated to hamper mobile value-added services market growth.
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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.
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.
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