The latest report by IMARC Group, titled “Mobile Value-Added Services (MVAS) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global mobile value-added services (MVAS) market size reached US$ 736.7 Billion in 2021. Mobile value-added services (MVAS) are various non-core facilities offered by service providers. It includes interactive voice and video response (IVVR), short message service (SMS), the wireless application protocol (WAP), utility VAS, unstructured supplementary service data (USSD), social networking, infotainment, and m-education. These services are marketed by telecommunication companies as premium features and offered at an additional charge to generate added revenue. These services also improve the pricing proposition, enhance the overall consumer experience, and optimize the return on investment (ROI).
Global Mobile Value-Added Services (MVAS) Market Trends:
The market is primarily driven by the increasing utilization of smartphones and tablets across the globe. In addition, the rising penetration of 3G and 4G services and the consequent adoption of various mobile applications represent another major growth-inducing factor. Besides this, value-based content and over-the-top (OTT) media services are gaining traction among individuals to access innovative content regardless of time and place. This, coupled with the emerging trend of digitization across various industries, is positively influencing the market growth. Moreover, rapid urbanization, the emerging 5G technology, the introduction of cloud-based VAS systems, and the developing telecommunications infrastructure are some of the other factors creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 1,745.3 Billion by 2027, exhibiting a CAGR of 15.4% during the forecast period (2022-2027).
- Based on the solution, the market has been categorized into short messaging services (SMS), multimedia messaging services (MMS), location-based services, mobile email and IM, mobile money, mobile advertising, mobile infotainment, and others.
- On the basis of the device type, the market has been classified into mobile phone, tablet PC, laptop/data card, and others.
- Based on the end user, the market has been bifurcated into SMBs and enterprises.
- On the basis of the vertical, the market has been segmented into BFSI, media and entertainment, healthcare, education, retail, government, telecom and IT, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being AT&T Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Baidu Inc., Comverse Technology Inc., Gaana.com, Gemalto, Google LLC, InMobi, Kongzhong Corp, Mahindra Comviva, Mobily, One97 Communications Ltd., OnMobile, and Vodafone Group Plc.
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