Mobile Value-Added Services Market: Current Analysis and Forecast (2022-2030)

Mobile Value-Added Services Market: Current Analysis and Forecast (2022-2030)

Mobile value-added services (VAS) are non-core services offered by mobile network operators (MNOs) beyond the standard voice and messaging services. These services are designed to enhance the customer experience and provide additional features and benefits to mobile users. Examples of mobile VAS include mobile banking, mobile entertainment, mobile marketing, and mobile health services. Mobile VAS typically require an internet connection and can be accessed through mobile applications, SMS, or USSD.

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. Moreover, the increasing internet penetration and smartphone rate, and higher use of mobile applications are some other factors helping the market to grow. Additionally, the rapidly growing digitalization around the globe is one of the most prominent factors contributing to the growth of the market. For instance, according to the World Economic Forum, USD 100 trillion of additional value for the world economy is expected from digital transformation by 2025.

• Based on the solution, the market is segmented into short messaging services, multimedia messaging services, 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.
• 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.
• For a better understanding of the market adoption of the Mobile Value-Added Services industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. 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.
• 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.