New York, USA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global mobile value-added services market is predicted to generate a revenue of $1,464.1 billion and rise at a CAGR of 15.3% during the forecast timeframe from 2020 to 2027.
As per our analysts, with the rising usage of mobile applications, social networking applications, mobile payments, and mobile web, the mobile value-added services market is predicted to experience a remarkable growth during the forecast period. Besides, the rising demand for entertainment services on mobile software is further expected to foster the growth of the market throughout the analysis timeframe. Moreover, the advancements in technologies such as 4G and 5G network services and the increasing usage of mobiles, smartphones, and tablets among individuals are expected to create massive investment opportunities for the market over the estimated period. However, the lack of guidelines for mobile value-added services may hinder the growth of the market throughout the estimated timeframe.
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Segments of the Mobile Value-added Services Market
The report has divided the market into segments based on solution, end-user, vertical type, and region.
Solution: Short Messaging Services Sub-Segment to be Most Productive
The short messaging services sub-segment is expected to rise at a CAGR of 14.2% during the analysis period. This is mainly due to the increasing usage of short messaging with the increased use of smartphones. Moreover, the increasing SMS marketing in huge brands as it earns higher open rates, engagement, and click-through rates is expected to upsurge the growth of the market sub-segment over the estimated timeframe.
End-User: Large Enterprises Sub-Segment to be Most Profitable
The large enterprises sub-segment is predicted to grow at a CAGR of 12.4% throughout the forecast period. The large-scale business economy can reduce the cost of business while maximizing its profit margins. This factor is expected to propel the growth of the market sub-segment during the analysis timeframe.
Vertical Type: Government Sub-Segment to be Most Lucrative
The government sub-segment is expected to grow at a CAGR of 14.0% during the estimated timeframe. The increasing investments by the government in improving the infrastructure connectivity in rural regions to offer advanced SMS services, and internet services and focusing on providing additional VAS on mobile platforms in the urban region are expected to fuel the growth of the market sub-segment over the forecast period.
Region: Asia-Pacific Region to Have Expansive Growth Opportunities
The Asia-Pacific region of the mobile value-added services market is predicted to generate a revenue of $455.8 billion throughout the analysis timeframe. This is mainly due to the increasing prevalence of smartphones in emerging economies of this region. Moreover, the reduced smartphone prices due to the increased competition among manufacturers and service providers in this region are expected to drive the regional growth of the market during the analysis period.
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Covid-19 Impact on the Mobile Value-added Services Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the mobile value-added services market. Due to the spontaneous spread of the coronavirus, many people started relying on mobile apps to order food or groceries online to pay with their phones instead of using amounts of cash or cards. Moreover, the increasing focus of the government on optimizing mobile value-added services such as video calling services during the pandemic period has inclined the growth of the market.
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Key Players of the Mobile Value-added Services Market
The major players in the mobile value-added services market include
- Huawei Investment & Holding Co. Ltd.
- Reliance Industries Ltd.
- Onmobile Global Limited
- Samsung Electronics Co. Ltd.
- Comviva Technologies
- Vodafone Group plc
- Alphabet Inc.
- Apple Inc.
- One97 Communication
- Mozat, and many more.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to obtain a leading position in the global industry. – Inquire to get a access to the Key Companies Development Strategic Report
For instance, in March 2022, Apple Inc., an American multinational technology company that specializes in consumer electronics, software, and online services, launched a new low-cost version of its iPhone SE with 5G capabilities along with a new version of the iPad Air and a high-end Mac Mini.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
More about Mobile Value-added Services Market:
- 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
