Summary

The Mobile Value-Added Services Market is expected to grow at a steady rate of around 15% owing to the rising number of smartphone and tablet users and advancements in the telecom industry. Mobile Value-Added Services are additional services provided by mobile network operators (MNOs) to enhance the user experience and increase revenue. These services include SMS alerts, mobile banking, music and video downloads, games, and mobile advertising. VAS can also include location-based services such as navigation and advertising based on a user's location. These services can be offered on a subscription basis or charged per use. VAS offers a considerable revenue opportunity for MNOs as users are willing to pay for the convenience and added value these services provide. They also provide a competitive advantage for MNOs in a crowded market. Moreover, the increasing number of smartphone and tablet users, higher use of mobile applications and mobile web, and increased return on marketing expenditure are some of the most prominent factors driving the growth of the market. Further on, factors such as the rapidly increasing internet penetration rate and growing internet population are also contributing to the growth of the market. For instance, according to the International Telecommunication Union, the global internet population stood at 4.9 billion in 2021 and this number increased to 5.3 billion in 2022.

Some of the major players operating in the market include Apple Inc.; Vodafone Group Plc; SAMSUNG ELECTRONICS CO., LTD; Reliance Industries Limited; Huawei Technologies Co., Ltd.; OnMobile Global Limited; AT&T; Airtel India; Google; and Verizon. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst solution, the short messaging service held a significant share of the market in 2021”
Based on solution, the market is segmented into short messaging service, multimedia messaging service, location-based services, mobile advertising, and others. The short messaging service segment held a prominent share of the market in 2021 and is expected to grow at a prominent CAGR during the forecasted period owing to the cost-effectiveness and wider reach of short messaging services. Further, the rise of smartphones and mobile internet also contributed to the growth of this segment.

“Amongst industry, the banking & financial services segment to grow at a substantial CAGR during the forecast period”
On the basis of industry, the market is categorized into banking & financial services, media & entertainment, healthcare, information & communication technology, and others. Among these, the banking & financial services segment is expected to grow at a robust CAGR during the forecast period. The growth of this segment can be attributed to the convenience, accessibility, affordability, and security that it offers to both customers and banks.

“Asia-Pacific to lead the growth”
Asia-Pacific is expected to grow at a robust CAGR during the forecast period. A large and growing population, rising incomes, the adoption of digital technologies, and a young and tech-savvy consumer base are some of the most prominent factors driving the growth of the market. Further on, Asia-Pacific is known as a highly competitive mobile market with multiple players competing for market share. This leads to the development of innovative business models, pricing strategies, and service offerings that further contribute to market growth.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global mobile value-added services market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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