Global Mobile Value-Added Services (MVAS) Market to Reach US$ 3,156.2 Billion by 2032, Fueled by Proliferation of Smartphones

According to the latest report by IMARC Group, titled “­­Mobile Value-Added Services (MVAS) Market Report by Solution (Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Location Based Services, Mobile Email and IM, Mobile Money, Mobile Advertising, Mobile Infotainment, and Others), Device Type (Mobile Phone, Tablet PC, Laptop or Data-Card, and Others), End-User (SMBS, Enterprises), Vertical (BFSI, Media and Entertainment, Healthcare, Education, Retail, Government, Telecom and IT, and Others), and Region 2024-2032,” the global mobile value-added services (MVAS) market size reached US$ 983.5 Billion in 2023. Mobile value-added services (MVAS) refer to a range of non-core services and applications that are offered to mobile phone users, providing them with additional functionalities beyond basic voice calls and text messaging. MVAS leverages the capabilities of mobile networks and smartphones to deliver various services that enhance user experience, entertainment, productivity, and convenience. These services are typically provided by mobile network operators, content providers, and third-party service providers. MVAS offerings encompass a wide array of services, including mobile banking and financial services, mobile entertainment such as music and video streaming, mobile gaming, mobile advertising and marketing, location-based services (LBS), mobile ticketing and payment solutions, and mobile health and wellness applications. Apart from this, MVAS also has applications in the business and enterprise sectors, providing solutions for workforce management, customer engagement, and communication.

Global Mobile Value-Added Services (MVAS) Market Trends:

The global MVAS market is primarily driven by the widespread adoption of smartphones and the increasing penetration of low-cost high-speed internet connectivity. Concurrently, the convenience and versatility of smartphones have paved the way for the popularity of mobile apps, mobile entertainment, mobile payments, and other MVAS, fueling the market growth. Moreover, the surging consumer demand for personalized and enriched mobile experiences is prompting MVAS providers to offer personalized recommendations, customized content, and interactive applications for a more engaging and immersive mobile environment, which, in turn, is creating a favorable outlook for market growth. Additionally, with the availability of high-quality streaming services, mobile gaming, and multimedia content, users are spending more time on their smartphones for entertainment purposes. This trend is incentivizing MVAS providers to continuously expand and improve their offerings to meet the diverse entertainment preferences of users worldwide, further strengthening the market growth. Apart from this, the expanding adoption of mobile banking, mobile payments, and mobile commerce due to the growing popularity of e-commerce and the need for seamless payment solutions is propelling the market forward. Besides this, the integration of location-based services (LBS) with MVAS and the rising focus on the Internet of Things (IoT) and smart devices are aiding in market expansion. Looking forward, the market value is projected to reach US$ 3,156.2 Billion by 2032, expanding at a CAGR of 13.4% during 2024-2032.

Market Summary:

• On the basis of the solution, the market has been divided into short messaging services (SMS), multimedia messaging services (MMS), location-based services, mobile email and IM, mobile money, mobile advertising, mobile infotainment, and others.
• Based on the device type, the market is classified into mobile phone, tablet PC, laptop/data card, and others.
• On the basis of the end-user, the market has been bifurcated into SMBs and enterprises.
• Based on the vertical, the market is categorized into BFSI, media and entertainment, healthcare, education, retail, government, telecom and IT, and others.
• On a regional basis, the market has been segmented 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 also been examined, with some of the key players being AT&T, 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, Vodafone Group Plc, etc.
   

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