Mobile Value Added Services Market size worth over $700bn by 2023: Global Market Insights Inc.

Growing number of smartphones and tablet users coupled with mounting adoption of mobile web and mobile applications is anticipated to propel the industry over the forecast period.
“Mobile Value Added Services (MVAS) Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 – 2023”

Mobile value added services (MVAS) market size was valued at over USD 300 billion in 2015 and is forecast to reach at around USD 700 billion till 2023, growing at a CAGR of 14%. 

The mobile value added services market size can be segregated on the basis of verticals, solutions, end-use, and regions. The prime verticals are telecom & IT, retail, media and entertainment, healthcare, government, education and BFSI. Key solutions include mobile infotainment, mobile advertising, location-based services, mobile money, multimedia messaging services, mobile email & IM and short message services. Enterprises and consumers are the two end-use segments.

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U.S. mobile VAS market size is expected to continue its dominance followed by Europe and Asia Pacific. Asia Pacific mobile value added services market share is likely to observe significant gains over the forecast period owing to increasing adoption of smartphones and tablets. Mobile value added services market size in India has also been witnessing huge funding for mobile applications and services from the government. However, lack of consciousness regarding these services among users could act as a challenge to growth. Middle East & Africa is expected to grow at a rapid rate owing to rising adoption of these services.

Apart from voice communication services, mobile service providers primarily offer value added services to the customers. The added services, namely, Short Message Service (SMS), mobile email & IM, Multimedia Messaging Service (MMS), mobile money, mobile advertising, mobile infotainment and location based services, enables subscribers to exploit tablets and smartphones for various non-voice purposes. In addition, carriers are targeting communication equipment providers and independent software vendors that develop reliable, well-tested, and cost effective applications in order to improve customer satisfaction.

Application or content owners build agreements with handset manufacturers, telecom operators, and content aggregators in order to share and provide content. They collect content from diverse content owners and allocate them to users according to their needs. Key factors driving the mobile VAS market size include high return on marketing, increase in smartphone and tablet users and adoption of mobile internet. However, complex implementation of these solutions along with lack of awareness among SMBs is expected to hinder growth over the next few years.

Mobile value added services market includes location based services, online gaming, music tracks play, sports and infotainment services, download and ring tones, missed call alerts, voice mail box, etc. They also consist of devotional applications, mobile money & m-commerce based services, mobile advertisements, contests, voting, WAP content downloads, outbound dialer services, and other utility services. Increasing adoption of 3G coupled with introduction of 4G networks is likely to offer a wide range of opportunities. Growing dominance of application-based services is expected to compel service providers to develop separate platforms for 3G and 4G networks.

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Fixed broadband subscriptions and high penetration rate of mobile devices are expected to fuel the industry demand over the forecast period. The inclination towards internet and internet-based devices is rising significantly. Increasing need for entertainment content on mobile device is a key trend in this industry, which in turn favors the demand growth of mobile music and videos sectors. Furthermore, social media and rich communication services are anticipated to offer potential opportunities.

Key players contributing to MVAS market share include Ongzhong Corporation, Comverse, Onmobile Global Limited, One97 Communications Limited, Inmobi, Mahindra Comviva, Google, Apple, Vodafone, and AT&T. Some other competitors are ZTE Corp., Samsung, Sprint Corporation, Tech Mahindra, Opencode Systems, Intersec SA, Nokia, NTT DoCoMo, Huawei Technologies, Gemalto NV, Etihad Etisalat Co., and Amazon.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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