Market Overview
The Mobile Value-Added Services Market will obtain a value of USD 733.83 Billion and a CAGR of 14.3% between 2020-2030.
Users of smartphones and tablets have raised the need for communication services. As a result, more people are using social networks, mobile applications, and the internet. These elements are driving the growth of the mobile value-added services market. One of the key drivers driving the market's growth is the world's rapid urbanization, which includes a significant rise in smartphone users. Furthermore, the expanding use of 3G and 4G services, which has aided in the widespread use of the internet, is boosting market expansion.
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Mobile Value-Added Services (VAS) are services that are provided by telecommunication companies beyond the standard voice calls and text messaging. These services can include multimedia messaging services (MMS), data access, SMS, location-based services, virtual reality services, and more. Many of these services are offered through mobile devices or networks, and are often used by companies to provide customers with brand information, news, or offers. Additionally, VAS can help drive down medical costs while providing quality care, and can also be used to protect the data and information of customers.
Mobile Value-Added Services (MVAS) is important because it allows mobile network operators to provide additional services to their customers, beyond just voice calls and SMS. These services can include gaming, streaming media, payment services, content sharing, and more. By providing these additional services, network operators can increase their revenue and customer loyalty. Additionally, MVAS can help to improve customer experience by offering services that are tailored to their needs and preferences.
One of the latest trends in Mobile Value-Added Services (MVAS) is the adoption of Over-the-Top (OTT) media services. OTT services allow users to access content such as movies, TV shows, and music without needing to go through a traditional cable provider. As more people become comfortable with streaming content, OTT services are becoming increasingly popular, and MVAS providers are leveraging this trend by offering users access to these services.
Another trend in MVAS is the increased focus on mobile gaming. Mobile gaming has grown in popularity in recent years, and MVAS providers are offering users access to a wide range of games, from simple puzzle games to more complex action and adventure titles. Additionally, providers are also offering access to virtual reality (VR) and augmented reality (AR) games, further enhancing the user experience.
Finally, MVAS providers are also focusing on providing users with more personalized services. For example, they are leveraging artificial intelligence (AI) and machine learning (ML) to better understand user preferences and serve up more relevant content. This helps to make the user experience more engaging and enjoyable, as users can quickly find content that is tailored to their needs.
Another significant growth-inducing aspect is the rising preference for value-based content among young people, particularly in the form of OTT media services to access cutting-edge substances. In addition, the growing trend of digitalization across sectors is encouraging expectations for market expansion.
Market segmentation:
The Mobile Value-Added Services Market is divided into different segments.
Healthcare, BFSI, Telecom and IT, Media and Entertainment, Government, Retail and Consumer Goods, and Others are the market segments based on vertical. Throughout the projection period, it is projected that the demand for premium content, novel SMS services, and an increase in Internet services would propel the expansion of mobile value-added services. The market is divided into large companies, small and medium businesses, and end-users. The market for international mobile value-added services offered by large companies is expanding the quickest. Large businesses can lower their operating expenses while raising their profit margins. The main advantage of a large economy is that it creates possibilities and supports the growth of huge corporations.
Mobile Advertising, Location Based Services, Mobile Infotainment, Mobile Email & IM, Short Messaging services, Multimedia Messaging services, Mobile Money, and Others are the market segments based on the solution types. In terms of worldwide mobile value-added services, mobile money dominates.
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By Type:
- Short Message Service (SMS)
- Voice & Data Value-Added Services (VAS)
By Product:
- Mobile Games
- Mobile Music
- Mobile Wallet
- Mobile Commerce
- Mobile Advertising
- E-Mail & IM
- Others
By Store:
- Google Play
- App Store (iOS)
- Others
By Vertical:
- BFSI
- IT & telecommunication
- Retail
- Government
- Healthcare
- Media & Entertainment
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
Regional analysis:
North America now dominates the worldwide market for value-added services and will keep this position during the evaluation period. The MVAS market in the area is driven by several MVAS providers offering services to organizations and vertical markets and advancements in value-added telematics techno.
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Recent developments:
Weiyouxin Technology is a private domain SaaS software operation services provider. In January 2021, ZW Data Action Technologies, Inc, a provider of data analytics, digital advertising, precision advertising, and other value-added services, announced plans to invest in Weiyouxin Technology.
In January 2021, Netcracker Technology said that Tiscali, an Italian telecom service provider and longtime partner, had contributed to the advancement of its BSS operations by providing 5G and other services, such as online rating and payment, across all of its lines of business.
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