New York, USA, July 13, 2021 (GLOBE NEWSWIRE) -- The latest report published by Research Dive states that the global mobile value-added services market is expected to witness a significant rise in revenue from $479.0 billion in 2019 to over $1,464.1 billion by 2027 at a CAGR of 15.3% from 2020-2027.
Download Free Sample Report of the Global Mobile Value-added Services (VAS) Market: https://www.researchdive.com/download-sample/5055
Market Analysis
There has been a drastic rise in the number of social networking applications along with online payment modes via apps. These factors along with the extensive use of mobile web have been major contributors to the growth of the mobile value-added services market.
Check out How COVID-19 impacts the Global Mobile Value-added Services (VAS) Market: https://www.researchdive.com/connect-to-analyst/5055
One of the primary limitations within the mobile value added market services is that there is a lack of privacy for the data being shared. The guideline and framework necessary haven’t been structured to adapt to the current times adding to the restraining factors of the market.
Several customers are provided with the mobile value added services the moment they subscribe to a service providers network. These are additions to the basic features like voice communication. The implementation of 4G and 5G infrastructure with the support of the rising usage of advanced devices such as tablets and smartphones has allowed the market to gain a large share.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Segmental Analysis
The global mobile value-added services market is segmented into solutions, end user, vertical type, and region.
Short Messaging Services Sub-segment Predicted to Gain Highest Market Share
By solution, the short messaging service (SMS) sub-segment gained revenue of $94.1 billion in 2019 and is predicted to rise further at a CAGR of 14.2% from 2020-2027. Unlike before, people are able to send out instant messages to another individual which have made communication simpler. This has provided an opportunity for brands to work on SMS marketing tactics that could further build up their engagement and click-through rate. These factors are responsible for the extensive growth of the market.
Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media
Large Enterprises Sub-segment to Garner Significant Revenue
By end user, the large enterprises sub-segment acquired revenue of $286.6 billion in 2019 and is set to rise ahead at a CAGR of 12.4% in the forecast period. Most of the larger organizations are capable of gaining profits even after lowering their business costs.
Government Sub-segment to Dominate the Market
By vertical type, the government sub-segment garnered a revenue of $104.4 billion in 2019 and is set to grow even further at a CAGR of 14.0% in the analysis period. The availability of multiple facilities such as internet services along with easier communication options such as SMS, the market is able to provide quality content to the users. These factors are responsible for the swift growth of the market.
Regional Analysis
The Asia-Pacific region is predicted to garner revenue of $455.8 billion by 2027, rising from $153.9 billion in 2019 at a steady CAGR of 14.9% in the forecast period. The presence of highly advanced yet affordable smartphone markets in countries such as China and India has boosted the growth of the regional mobile value added services market.
COVID -19 Impact on the Market
The lockdown caused people to rely on apps to avail basic facilities such as grocery shopping and also to make online payments to avoid contact with cash. These factors helped the market grow immensely amidst the pandemic.
Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
1. Mozat
2. Vodafone Group, plc
3. Reliance Industries Ltd
4. Onmobile Global Limited
5. Alphabet, Inc
6. Apple Inc
7. Samsung Electronics Co. Ltd
8. Huawei Investment & Holding Co Ltd
9. Comvia Technologies
10. One97 Communication
The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Natural Language Processing Market: QUICK DOWNLOAD FREE SAMPLE REPORT - https://www.researchdive.com/download-sample/5343
RFID Market: QUICK DOWNLOAD FREE SAMPLE REPORT - https://www.researchdive.com/download-sample/6063
Zero Trust Security Market: QUICK DOWNLOAD FREE SAMPLE REPORT - https://www.researchdive.com/download-sample/5368