Mobile Value-Added Services Market Synopsis:
Market Research Future study discloses that the global mobile value-added services market is anticipated to expand at 15.3% CAGR and would achieve 309.1 billion in 2025 during the forecast period.
The global mobile value-added services are gaining traction due to factors such as expanding telecom and communication sectors that are allowing mobile subscribers to make usage of smartphones. In recent times, smartphones and tablets have become an integral part of everyday life and are now subjected to multiple developments to enhance the customer’s experience. Thus, this has increased the demand for smartphones across the world and has given a robust impression to the global mobile value-added service, which is now ready to achieve higher valuation during the assessment period.
At the same time, the constant modification and customization of services as per the consumer’s preference, especially in the field of education, advertisement, and IT and telecommunication industry have positively impacted the telecom operators and service breadwinners in the Mobile Value-Added Services Market. With this, the market can observe high growth rate in the coming years. Apart from this, the value-added services also deal with superior service experience and enhanced customer engagement and optimized investments, which is very beneficial for the service providers in this market. These factors are also contributing to the growth prospect of the market at a rapid pace.
As an add-on, the mobile value-added services are expected to witness significant growth from all industrial verticals during the forecast period owing to the owing to the mounting ownership of smartphones along with the rising need for personalized services. Now, the telecom operators and service providers across regions mainly in the emerging regions of Asia-Pacific are offering several new customized mobile apps and services to suit every customer’s needs, which is yet another prime factor for which the market is boosting at a rapid pace.
On the other hand, the mounting demand for personalized services is also likely to be significant elements of growth for the market during the years. The need for customized value-added services by enterprises and consumers is mainly gaining pace, where it is estimated that the market for mobile value-added services will view growth during the assessment period.
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Major Key Players:
The prominent key players of the global mobile value-added services market are listed as Singtel, IPROTECH, Symsoft, Streamwide SA, InMobi Pte. Ltd, OnMobile Global Limited, Kongzhong Corporation, CALLUP, TelcoVas, Vodafone Group PLC, MyRepublic Limited, Stonehenge Telecom, Giesecke+Devrient Mobile Security GmbH, Comviva, and Sangoma Technologies.
The segmental analysis of the global mobile value-added services has been done by type, product, store, and vertical.
- By the segment of type, the market includes short message service (SMS), voice, data, and value-added services (VAS). Among these, SMS is leading the mobile value-added service market. On the other hand, voice is the second-largest segment, and the VAS segment is anticipated to expand at the highest CAGR.
- In terms of product, the market is characterized by email and IM, mobile music, mobile wallet, mobile commerce, mobile advertising, mobile games, and others. Among these, mobile music and games are leading the mobile value-added services market.
- In terms of the store, the market includes Google Play, App Store, and others. among these, the google play segment held the largest market share in 2018. Whereas, the App Store segment was the second-largest market in 2018 and is now likely to enroll the highest CAGR in the estimated period.
- The segment of vertical, the mobile value-added services market has been categorized into banking, and insurance (BFSI), financial services, media & entertainment, healthcare, retail, government, IT & telecommunication, and others. These industry verticals are implementing mobile value-added services.
Regionally, the global mobile value-added services market has been studied among the critical regions of Asia-Pacific, North America, Europe, and the Middle East & Africa.
Among these, North America is the leading region in the market share of the mobile value-added services. The market growth in this region is credited to the existence of many mobile value-added services providers that offer various services to the enterprises and verticals.
Europe was listed as the second-largest market in the mobile value-added services market back in 2018. The region has countries like the UK, Germany, France, and entire Europe. Corresponding to the MRFR study, the UK is anticipated to attain the highest market share, after Germany, France, and the rest of Europe. The factors that are accountable for the market growth include an upsurge in the number of enterprises and verticals who are availing a variety of mobile value-added services. Mobile value-added services is swiftly used by businesses in the IT and telecommunication, retail, and BFSI verticals in Europe.
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