Increase in the number of smartphone and tablet users globally, rapid rise in digitalization and consumer embrace of technology, surge in use of mobile applications, and innovation in the field of telecommunication drive the growth of the global mobile value-added services market. Region-wise, the market in Asia-Pacific is expected to maintain its dominance in terms of revenue during the forecast period.
Portland, OR , Nov. 18, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global mobile value-added services market generated $658.5 million in 2021, and is estimated to reach $2,226.1 billion by 2030, witnessing a CAGR of 14.2% from 2022 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
|Market Size in 2021||$658.5 Billion|
|Market Size in 2030||$2,226.1 Billion|
|No. of Pages in Report||320|
|Segments Covered||Solution, End-User, Vertical, and Region|
|Drivers||Increase in the number of smartphone and tablet users.|
|Rapid rise in digitalization and consumer embrace of technology.|
|High use of mobile applications and mobile web and increased return on marketing expenditure.|
|Opportunities||Rollout of 4G and 5G network services and innovation in the field of telecommunication sector.|
|Restraints||Lack of government initiatives and limited capabilities of customer authentication for services involving the sharing of sensitive data, such as payments.|
- The outbreak of the COVID-19 pandemic had a positive impact on the mobile value-added services market. The social distancing norms made many people aware of the applications that allow them to buy groceries online. So while shopping, more people opted to pay with their phones rather than using cash or credit cards.
- During the pandemic, the mobile value-added services were used to provide various services by financial institutions, governments, education systems, and healthcare service providers to people who suffered from COVID-19.
- The MVAS messaging ecosystem allowed citizens to use various mobile channels to book appointments for COVID-19 tests and other services, and it empowered healthcare practitioners to send out real-time public health notifications.
The report offers a detailed segmentation of the global mobile value-added services market based on solution, end-user, vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on solution, the short messaging service (SMS) segment was the largest in 2021, accounting for nearly one-fifth of the global mobile value-added services market share. However, the mobile money segment is estimated to dominate the market in terms of revenue and witness the fastest CAGR of 15.5% during the forecast period.
Based on end-user, the large enterprises segment was the largest in 2021, capturing more than half of the global mobile value-added services market. However, the SMB segment is estimated to dominate in terms of revenue and witness the fastest CAGR of 17.2% during the forecast period.
Based on vertical, the government segment captured the largest market share of more than one-fifth of the global mobile value-added services market in 2021. The telecom and IT segment, however, is likely to achieve a progressive revenue growth and the fastest CAGR of 15.1% through 2030.
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Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly one-third of the global mobile value-added services market share, and is likely to maintain its leadership status during the forecast period. However, the market in Europe is expected to manifest the highest CAGR of 14.7% from 2022 to 2030. The other regions analyzed in the study include North America and LAMEA.
Leading players of the global mobile value-added services market analyzed in the research include Mozat Pte Ltd., Apple Inc., Vodafone Group plc, Samsung Electronics Co. Ltd., Reliance Industries Ltd., Huawei Investment & Holding Co. Ltd., OnMobile Global Limited, Comviva Technologies, Alphabet Inc., and One97 Communications.
The report analyzes these key players of the global mobile value-added services market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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