Mobile Value Added Services Market Outlook 2031
The global mobile value added services market size was USD 752.01 Billion in 2022 and is expected to reach USD 2.48 Trillion by 2031 expand at a substantial CAGR 14.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the introduction of high speed internet services such as 5G and 4G.
Mobile value added services (MVAS) are services provided other than voice call which include location-based services, multimedia messaging, short message service, mobile advertising, mobile infotainment, mobile money, and email & IM.
Mobile Value Added Services Market Trends, Drivers, Restraints, and Opportunities:
- Value added services offer an opportunity for operators, manufacturers, application developers, and other MVAS vendors to create additional revenue and increase customer base.
- Location-based services such as GPS, taxi services, and food ordering are extensively used. This, in turn, is expected to drive the market.
- Increasing adoption of tablets and smartphones are expected to propel the MVAS market.
- Rising communication services are expected to fuel the MVAS market.
- Increasing demand for mobile gaming is anticipated to boost the MVAS market.
- Introduction of social media has increased the usage of smartphones and PCs to access social sites such as Twitter, Friendster, and Facebook.
- M-wallet and online payment platform services are gaining importance, as many consumers prefer payments through m-wallet service. This factor is projected to boost the market.
Scope of The Mobile Value Added Services Market Report:
The report on the mobile value added services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mobile Value Added Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Solutions (Short Message Service, Multimedia Messaging Service, E-Mail & IM, Mobile Infotainment, Mobile Advertising, Location-based Services, and Mobile Money), Applications (Banking, Financial Services, And Insurance (BFSI), Education, Retail, Telecom & IT, Healthcare, Media & Entertainment, Government, and Others), and Regions
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Vodafone, Mahindra Comviva, Apple Inc., Google, Global Limited, Kongzhong Corporation, One97 Communications Limited, Comverse, AT&T, and InMobi
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Mobile Value Added Services Market Segment Insights:
The e-mail segment held a major market share of the total revenue in 2018
Based on solutions, the global mobile value added services market is segmented as short message service, multimedia messaging service, e-mail & IM, mobile infotainment, mobile advertising, location-based services, and mobile money. The e-mail segment is expected to expand at a robust CAGR during the forecast period.
E-mails are essential for corporate companies, as majority of their operations takes place over e-mails. Previously they connected through personal computers, but after the launch of mobile e-mail, the efficiency of corporates have increased.
The BFSI segment held a major market share of more than 30% of the total revenue in 2018
On the basis of applications, the global mobile value added services market is fragmented as Banking, Financial Services, and Insurance (BFSI), education, retail, telecom & IT, healthcare, media & entertainment, government, and others. The BFSI segment is expected to expand at a substantial CAGR during the forecast period. Growth of the segment is attributed to rising demand for applications that give continuous updates about stock market and updates about account data through short message service.
The market in North America is expected to expand at a rapid pace during the forecast period
In terms of regions, the global mobile value added services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America holds a major share of the total revenue, owing to rising use of location-based services, changing consumer preference to use smart phone applications, and established telecom infrastructure in the region.
The market in Asia Pacific is projected to expand at a substantial CAGR during the forecast period. Rising adoption of value added services in developing countries such as India and China are attributed to increasing expenditure of consumers and rising middle class population in the region. The market in Middle East and Africa is anticipated to grow at a slow rate, due to poor infrastructure and less awareness about value added services.
Segments
The global mobile value added services market has been segmented on the basis of
Solutions
- Short Message Service
- Multimedia Messaging Service
- E-Mail & IM
- Mobile Infotainment
- Mobile Advertising
- Location-based Services
- Mobile Money
Applications
- Banking, Financial Services, And Insurance (BFSI)
- Education
- Retail
- Telecom & IT
- Banking
- Healthcare
- Media & Entertainment
- Government
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Vodafone
- Mahindra Comviva
- Apple Inc.
- Google
- Global Limited
- Kongzhong Corporation
- One97 Communications Limited
- Comverse
- AT&T
- InMobi
Competitive Landscape
Key players in the global mobile value added services market include Vodafone, Mahindra Comviva, Apple Inc., Google, Global Limited, Kongzhong Corporation, One97 Communications Limited, Comverse, AT&T, and InMobi. Major players in the market are involved in several strategies such as mergers and acquisitions, partnerships, collaborations, and new product development to gain a competitive advantage and a steady market share during the forecast period.
For instance, in March 2015, InMobi, an online discovery and advertising platform provider, introduced a new product known as Appographic targeting, which helps marketing companies to upsurge downloads of their application. This product does not advertise the brand but promotes the performance, which in turn, generates revenue for InMobi. In December 2014, Kongzhong Corporation acquired Forgame Holdings Limited. This acquisition helped game development and distribution in China and all over the world.
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