Market Overview
The global Mobile Value-Added Services (MVAS) Market projects a growth rate of 14.3% with USD 731.25 billion by 2030. Value-added services have existed for a long time in the telecommunication sector as people have increased their use of mobile phones. All telecommunication operators offer VAS like welcome tunes, voice messages, and missed call alerts. People are using value-added services to increase the value of their experience while using mobile phones. As people seek to use phones as digital devices for multiple purposes, value-added services are on the rise.
Mobile network operators provide these value-added services through third party content generators under a revenue-sharing model. The customer usually has to subscribe to certain value-added services through additional payments. As disposable incomes rise and people shift their workspace into one phone, the demand for value-added services has increased day by day. The need for missed call alerts, instant voice messages, and call blocking services has only gone up in recent times. Thus, the VAS market is at an advantage during the forecast period.
The report talks about the various factors that influence the Mobile VAS sector and discusses market segmentation and regional analysis of the market for a better understanding of revenue flow. The report also discusses recent industry news to highlight the trends of the mobile VAS industry. The MVAS industry undergoes healthy growth in the forecast period and experiences an expansion in size and revenue.
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Market Segmentation
The MVAS market is segmented into different industrial segments based on different criteria. By type, the market divides into SMS, voice, and data-based VAS. The SMS-based VAS is the dominating sector by type.
The next segment divides by-products, including mobile games, mobile wallets, and mobile music. The leading industrial segment by-product is mobile games. Another segment in discussion is the store segment that includes Google Play and App store as major stores for these services.
Another discussion segment is vertical-based, subdividing into Media and Entertainment, IT, healthcare, BFSI, etc.
Drivers and Restraints
The growing demand and ownership of smartphones has created the illusion that they are advertising mobile value-added services right around the corner. Constant customer-specific modification and optimization of services is anticipated to have a positive influence on telecom operators and service providers in the Mobile Value-Added Services Market Growth, particularly in the education, advertisement, and IT and telecommunications industries. Mobile value-added services are expected to expand significantly across all industrial verticals during the forecast period. Increasing ownership of smartphones along with a growing demand for customized services is likely to be an significant determinant of growth in the coming years. Service providers' main concern has been to provide clients with the latest technology-related advances in value-added services. Rising smartphone ownership along with growing demand for personalized services is likely to be a major determinant of growth in the coming years. The need for customized value-added services by companies and consumers is gaining traction. It is therefore predicted that the demand for mobile value-added services will expand during the forecast period.
Regional Outlook
The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.
North America is the world's market share leading area for mobile value-added services. Business expansion is due to the emergence of various mobile value-added service providers providing their services to the businesses / vertical businesses.
In 2018, Europe was the second-largest market for internet value-added services. Europe had been split into the UK, Germany, France and the rest of Europe. According to the MRFR report, the UK is projected to gain the largest market share, followed by France, Germany, and the rest of Europe. Some of the other factors which are responsible for market growth include an increase in the number of companies that make use of various mobile value-added services. Mobile Value-Added Services are being used increasingly by companies in vertical IT and telecommunications, retail and BFSI in Europe today.
Competitive Analysis
The key market players operating in the global market as identified by MRFR are MyRepublic Limited, IPROTECH, Singtel, InMobi Pte. Ltd, OnMobile Global Limited, CALLUP, Vodafone Group PLC, Kongzhong Corporation, Stonehenge Telecom, Symsoft, Comviva, Giesecke+Devrient Mobile Security GmbH, Streamwide SA, TelcoVas, and Sangoma Technologies.
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Mobile Value-Added Services Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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