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Written by Business News » Updated on: August 05th, 2024
IMARC Group, a leading market research company, has recently released a report titled "Mobile Value-Added Services (MVAS) Market Report by Solution (Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Location Based Services, Mobile Email and IM, Mobile Money, Mobile Advertising, Mobile Infotainment, and Others), Device Type (Mobile Phone, Tablet PC, Laptop or Data-Card, and Others), End-User (SMBS, Enterprises), Vertical (BFSI, Media and Entertainment, Healthcare, Education, Retail, Government, Telecom and IT, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the mobile value-added services market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global mobile value-added services (MVAS) market size reached US$ 983.5 Billion in 2023. Looking forward, the market is expected to reach US$ 3,156.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.4% during 2024-2032.
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Factors Affecting the Growth of the Mobile Value-Added Services (MVAS) Industry:
Increased Smartphone Penetration and Mobile Internet Usage
The surge in smartphone adoption and mobile internet usage is a major factor driving the MVAS market. As smartphones become more affordable and accessible, a larger segment of the global population is able to use advanced mobile applications and services. This widespread penetration of smartphones enhances the demand for MVAS, such as mobile apps, games, and multimedia services. Mobile internet usage also supports this growth, as users increasingly rely on their devices for a wide range of activities, from social networking and streaming media to online shopping and financial transactions. The constant evolution of mobile technology and the increasing capability of smartphones as consumers seek more sophisticated and personalized services impelling the market reach.
Growing Demand for Personalized and Contextual Services
The growing demand for personalized and contextual mobile services significantly drives the MVAS market. Consumers today expect tailored experiences that cater to their individual preferences and behaviors. MVAS providers leverage data analytics, artificial intelligence (AI), and machine learning (ML) to deliver personalized content, recommendations, and advertisements based on user preferences, location, and activity. For example, personalized marketing messages and location-based services enhance user engagement and satisfaction. As businesses aim to improve customer retention and maximize the effectiveness of their marketing efforts, the demand for such personalized services continues to rise. This trend is particularly prominent in sectors like e-commerce, entertainment, and financial services, where customized offerings are bolstering the market growth.
Expansion of 4G/5G Networks and Advanced Connectivity
The expansion of fourth-generation (4G) and the launch of fifth-generation (5G) networks are crucial drivers of the MVAS market. Enhanced connectivity and faster internet speeds provided by these advanced networks enable more sophisticated and data-intensive MVAS applications. 4G networks have already facilitated the growth of mobile video streaming, high-speed gaming, and cloud-based services. With the advent of 5G, which offers even higher data speeds, lower latency, and greater capacity, new opportunities for MVAS are emerging. These include augmented reality (AR) and virtual reality (VR) applications, advanced Internet of Things (IoT) services, and enhanced mobile gaming experiences, contributing to the market expansion.
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Mobile Value-Added Services (MVAS) Market Report Segmentation:
By Solutions:
Short messaging service (SMS) accounts for the majority of shares due to its widespread accessibility and cost-effectiveness, making it a preferred communication channel for businesses and individuals globally.
By Device Type:
On the basis of device type, the market is segmented into mobile phones, tablet PCs, laptops or data cards, and others.
By End User:
Enterprises dominate the market growth as they rely on MVAS for various business operations, including communication, marketing, and customer engagement.
By Vertical:
The government dominates the market due to its extensive use of MVAS for citizen services, emergency notifications, and public communication.
Regional Insights:
Asia Pacific enjoys the leading position due to its large population, rapid technological adoption, and expanding digital infrastructure.
Global Mobile Value-Added Services (MVAS) Market Trends:
With the rise of mobile-based financial services, including mobile banking and digital wallets, as consumers increasingly use their smartphones for transactions, payment solutions, and financial management, demand for secure and convenient mobile financial services is strengthening the market growth. Moreover, with the increasing integration of mobile devices with wearable technology as consumers adopt smartwatches and fitness trackers, there is growing demand for MVAS that provide health monitoring, notifications, and seamless connectivity between mobile devices and wearables, aiding the market demand. Besides this, with the growing popularity of mobile health applications as consumers seek convenient ways to monitor health and wellness through their smartphones, the demand for mobile health services, such as fitness tracking and telemedicine, is supporting the market growth.
Top Companies Operated in Mobile Value-Added Services (MVAS) Industry:
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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