New York, USA, Dec. 07, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global mobile value-added services market is expected to generate a revenue of $1,464.1 billion and grow at a CAGR of 15.3% during the estimated period from 2020-2027.
As per analysts, with the rising usage of mobile applications and mobile web worldwide, the market is expected to experience a distinctive growth over the forecast timeframe. Besides, the increasing demand for entertainment services on mobile software is further predicted to foster the growth of the market during the analysis period. Moreover, the growing advancements in technologies such as 4G and 5G network services are expected to create wide growth opportunities for the mobile value-added services market during the estimated timeframe. However, the lack of guidelines and regulatory infrastructure for several market players of mobile value-added services may hinder the growth of the market during the forecast period.
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Segments of the Market
The report has divided the mobile value-added services market into various segments based on solution, end-user, vertical type, and region.
Solution: Short Messaging Services Sub-Segment to be Most Lucrative
The short messaging services sub-segment is expected to grow at a noteworthy CAGR of 14.2% during the analysis timeframe. In 2019, the sub-segment was the highest contributor to the market by generating $94.1 billion in revenue. This is mainly because of the growing usage of smartphones among millennials in their day-to-day lives. In addition, the increasing value of SMS marketing among brands due to its increased earning through engagement and click-through rates is expected to bolster the growth of the mobile value-added services market sub-segment over the analysis timeframe.
End-User: Large Enterprises Sub-segment to be Most Profitable
The large enterprises sub-segment is predicted to rise at a CAGR of 12.4% during the estimated timeframe. The increasing large-scale business economy that is helping large companies to minimize the cost of the business and maximize their profit margins is further expected to amplify the growth of the market sub-segment throughout the estimated timeframe.
Vertical Type: Government Sub-Segment to be Most Beneficial
The government sub-segment is expected to rise at a healthy CAGR of 14.0% during the analysis period. This is broadly due to the increasing demand from consumers all across the globe for high-end content, advanced SMS services, and growing internet services. Moreover, the increasing investment and emphasis of the government on providing additional VAS on mobile platforms in urban areas with the implementation of new digital technologies is expected to fuel the growth of the mobile value-added services market over the analysis period.
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Region: Asia-Pacific Region Predicted to Have Expansive Growth Opportunities
The Asia-Pacific region is expected to generate a revenue of $455.8 billion over the estimated time period. This is mainly due to the growing prevalence of smartphones in emerging economies. Moreover, the lower prices of smartphones because of the increasing competition among the manufacturers and service providers are the factors expected to propel the regional growth of the market during the analysis period.
Covid-19 Impact on the Market
The outbreak of the Covid-19 pandemic has devastated various industries, however, it has impacted the mobile value-added services market positively. During the pandemic, the individuals have started relying on online services to meet their daily life chores starting from ordering food or groceries online to shop apparel to making payments online. All these operations were smoothly performed with the usage of smartphone mobile applications. Moreover, the increased dependency on making video calls for a personal or official meeting has also enhanced the growth of the market during a period of crisis.
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Key Players of the Market
The major players of the mobile value-added services market include
- Huawei Investment & Holding Co. Ltd.
- Reliance Industries Ltd.
- Onmobile Global Limited
- Comviva Technologies
- Vodafone Group plc
- Alphabet Inc.
- Apple Inc.
- Mozat
- One97 Communication
- Samsung Electronics Co. Ltd., and many more.
These players are working on the development of new business strategies to acquire the leading positions in the global industry.
For instance, in March 2021, Reliance Jio Infocomm Ltd, a leading Indian telecommunications company, has announced to use of all 22 circles across India. The company has successfully acquired these circles and this is concluded by the Department of Telecommunications, Government of India, during the spectrum auctions.
Furthermore, the report also presents other vital aspects including the financial performance of the key players, SWOT analysis, the latest strategic developments, and product portfolio.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Article Links:
- Global Mobile Value-added Services Market to Experience Accelerating Growth by 2027, Due to Substantial Increase in the Usage of Mobile Applications and Mobile Web
- 7 Mobile Value-added Services (VAS) Provided by Telecoms that You Might Have Missed Out On
