Mobile Value Added Services Market to Surpass Valuation of US$ 1.8 Trn by 2031

Transparency Market Research delivers key insights on the global mobile value added services market. In terms of revenue, the global mobile value added services market is estimated to expand at a CAGR of 10.1% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global mobile value added services market.

Mobile value-added services (MVAS) are services offered by telecom service providers to customers other than the core services such as voice, SMS, and data. It enhances the user experience that could function as a separate product or feature. Mobile value added services are majorly provided for entertainment, eCommerce, and sports. It helps mobile service providers to create and sustain new revenue streams.

Mobile value added services generate additional revenue either through their direct sale or by contributing to a surge in retention. It can fuel additional demand for core services as a way to increase user time spent on a mobile device. Mobile value added services (MVAS) provide synergy among the company’s range of services in a strong competitive environment, and acts as a distinguishing factor to attract more customers.

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Mobile Value Added Services Market: Dynamics

The presence of multiple vendors in the market has increased competition among Internet providers. This, in turn, has reduced the overall Internet costs and augmented the potential consumer base. According to the Internet World Stats, in 2021, more than 5 billion Internet users are present across the globe with a 65.5% penetration rate. The mobile value added services market is expected to add billions of new users over the next few years, due to the heavy penetration of the Internet. In recent years, users are moving toward more digitalized solutions such as e-payments, e-learning, OTT platforms, and social media. Mobile value added services providers are expected to harness significant revenue in the near future with such a growth in demand for mobile Internet and deployment of 5G Internet services.

Growing penetration of smartphones and increasing availability of advance network infrastructure in non-urban areas in the past few years is projected to propel the usage of mobile value added services all over the globe during the forecast period. The availability of reasonable data plans is another crucial factor driving the extensive usage of the Internet across the globe. For instance, The Reliance Group propelled its telecommunication service named Reliance Jio in India. The Reliance Group offered its data services to customers at an economical cost, which enabled the telecommunication service to acquire a huge consumer base in India during the second half of this decade.

Developments in the Indian mobile value added services market is also reinforced by Indian Government initiatives such as Skill India, Startup India, and Digital India. According to Globalwebindex.com, in January 2021, the total number of global internet users stood at around 4.66 billion, accessing the internet via mobile devices.

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Mobile Value Added Services Market: Prominent Regions

North America is expected to hold a dominant share of the global mobile value added services market in 2021 due to the presence of major players in the U.S. such as Apple Inc. Moreover, increasing adoption of cloud-based solutions is expected to boost the market. Europe follows North America, in terms of share of revenue, of the global mobile value added services market. Growing adoption of technology and IoT among children results in increasing demand for mobile value added services in European countries. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period, owing to rising adoption of smartphones, tablets, laptops, etc. in developing countries, and emerging new technologies, leading to growth of the mobile value added services market. Apart from these regions, South America and MEA are expected to be lucrative regions for the global mobile value added services market during the forecast period.

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Mobile Value Added Services Market: Key Players

Key players operating in the global mobile value added services market are Apple Inc., Vodafone Group Plc, Bharti Airtel Limited, AT&T Inc., OnMobile, Spice Digital Limited, Comverse Technology, Inc., One97 Communications, Google LLC, Kongzhong Corp, InMobi, China Mobile Ltd., Telkom SA SOC Limited, ZTE Corporation, Verizon Communications Inc., Teligent Telecom, Telefónica, S.A., Comviva Technologies Limited, Etisalat, Deutsche Telekom AG, and others.