Request FREE sample PDF
Pharmacy benefit management market
MOBILE VALUE ADDED SERVICE MARKET REPORT OVERVIEW
The global mobile value added service market size was USD 619430 million in 2021 and the market is projected to touch USD 1356670 million by 2028, exhibiting a CAGR of 11.6% during the forecast period.
The Mobile Value-Added Service (VAS) market encompasses a range of additional services beyond basic voice calls and messaging in the mobile telecommunications industry. These services include mobile content, internet access, commerce, entertainment, location-based offerings, messaging, advertising, and health services. The market has seen substantial growth driven by technological advancements, increased smartphone adoption, and the demand for data-intensive services facilitated by 4G and 5G networks. Key players collaborate to innovate and deliver services, while factors such as consumer preferences, regulatory policies, and technological advancements shape the competitive landscape.
Mobile VAS providers, including mobile operators, content providers, and developers, continually strive to meet consumer demands and explore new revenue streams. They leverage technologies like AI, AR, and VR to enhance services and differentiate themselves in a dynamic and competitive market. As consumer preferences evolve and technology continues to advance, the Mobile VAS market remains a pivotal sector in the mobile telecommunications industry, offering a wide array of services aimed at enhancing the mobile user experience and driving revenue growth for stakeholders.
COVID-19 Impact: Market Growth Boosted by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
With lockdowns and social distancing measures in place, there was a notable increase in demand for digital services such as mobile content, entertainment, mobile commerce, and communication tools. People turned to their mobile devices for entertainment, online shopping, virtual socializing, and remote work, driving up usage and revenue for certain VAS offerings. As people spent more time at home, there was a shift in content consumption patterns. Streaming services, mobile gaming, and social media platforms experienced a surge in usage as people sought entertainment and connectivity through their mobile devices. This led to increased demand for VAS offerings in these categories.
Location-based services (LBS) faced challenges during the pandemic, especially those related to travel, tourism, and in-person activities. With restrictions in place and people staying indoors, the demand for LBS such as navigation, local business searches, and location-based advertising declined temporarily.
LATEST TRENDS
"5G Revolution in Mobile Services to Drive Market Growth"
The arrival of 5G networks isn't just about faster internet speeds, it's about unlocking a whole new realm of possibilities for mobile technology. This has significant implications for the MVAS market, creating exciting opportunities for innovation and driving demand for advanced services. MVAS providers can capitalize on this by offering AR/VR content streaming, cloud-based rendering services, and specialized AR/VR apps for various industries like education, training, and entertainment. Forget bulky consoles and expensive hardware. 5G empowers seamless cloud gaming, where games run on remote servers and stream directly to your mobile device. MVAS providers can offer cloud gaming subscriptions, partnerships with game developers, and cloud-based storage solutions for gamers.
MOBILE VALUE ADDED SERVICE MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into short message service (SMS), multimedia messaging service (MMS), interactive voice & video response, wireless application protocol, unstructured supplementary service data, & others.
Short Message Service (SMS): SMS allows users to send short text messages, typically limited to 160 characters, between mobile devices. It's widely used for communication, notifications, alerts, and two-factor authentication.
Multimedia Messaging Service (MMS): MMS enables users to send multimedia content such as pictures, videos, audio clips, and longer text messages between mobile devices. It expands upon the capabilities of SMS by supporting richer media formats.
Interactive Voice and Video Response: IVVR allows users to interact with automated systems using voice or video commands. It's commonly used in customer service applications, interactive voice response (IVR) systems, and video-based support services.
Wireless Application Protocol: WAP is a technical standard that enables mobile devices to access information and services on the internet. It allows for the creation of mobile-friendly websites and the delivery of web-based content optimized for mobile devices.
Unstructured Supplementary Service Data: USSD is a communication protocol used by GSM cellular telephones to send text messages between a mobile device and an application server. It's commonly used for services such as mobile banking, prepaid mobile recharges, and interactive menu-based applications.
Others: Other mobile services may include Mobile Value-Added Services (VAS), which encompass a wide range of additional services beyond basic voice and messaging. These services can include mobile content, mobile commerce, location-based services, mobile advertising, and mobile health applications, among others.
- By Application
Based on application the global market can be categorized into consumer, enterprise, network provider.
Consumers: Consumers are the end-users of mobile VAS offerings. They utilize these services for entertainment, communication, productivity, and convenience.
Enterprises: Enterprises are businesses that leverage mobile VAS to reach and engage customers, streamline operations, and drive revenue. They utilize VAS for marketing, customer relationship management, mobile commerce, and employee productivity.
Network Providers: Network providers, including mobile operators and telecommunications companies, are essential infrastructure providers in the mobile VAS ecosystem.
DRIVING FACTORS
"Smartphone Penetration and Mobile Technology to Boost the Market"
One of the key driving factors in the global mobile value added service market growth is the smartphone penetration and mobile technology in urban areas. The increasing penetration of smartphones globally provides a significant growth opportunity for the mobile VAS market. Smartphones enable access to a wide range of VAS offerings, including mobile apps, multimedia content, and mobile commerce services. Continuous advancements in mobile technology, such as 4G and 5G networks, improved processing power, and enhanced mobile devices, enable the delivery of richer and more immersive VAS experiences. These advancements support higher data speeds, lower latency, and improved network reliability, driving the adoption of data-intensive VAS offerings.
"Mobile Internet Usage and Digital Entertainment to Expand the Market"
Another driving factor in the global mobile value added service market is the mobile internet and digital entertainment offered by these products. The growing popularity of mobile internet usage fuels demand for VAS such as mobile browsing, social media access, and online content consumption. Consumers increasingly rely on their mobile devices to access the internet, driving the demand for VAS that enhance their online experience. There is a significant demand for digital content and entertainment services on mobile devices, including streaming video, music, gaming, and digital publications. Consumers seek VAS offerings that provide convenient access to a diverse range of digital content while on the go.
RESTRAINING FACTOR
"Data Privacy Concerns and Monetization Challenges to Potentially Impede Market Growth"
One of the key restraining factors in the global mobile value added service market is the data privacy concerns and monetization challenges of these products. Data privacy and security concerns are significant barriers to the adoption of mobile VAS offerings. Consumers are increasingly wary of sharing personal information and conducting transactions on mobile devices due to the risk of data breaches, identity theft, and privacy violations. Monetizing mobile VAS offerings can be challenging due to competition, pricing pressures, and consumer expectations for free or low-cost services. VAS providers must identify viable monetization strategies, such as subscription models, in-app purchases, advertising revenue, and partnerships with enterprises, to generate sustainable revenue streams and support ongoing investment in product development and innovation.
MOBILE VALUE ADDED SERVICE MARKET REGIONAL INSIGHTS
"Asia Pacific Region Dominating the Market due to Presence of a Large Consumer Base"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia-Pacific has emerged as the most dominant region in the global mobile value added service market share due to several factors. The Asia-Pacific region has been a major shareholder in the mobile VAS market due to its large population, rapid economic growth, and high smartphone penetration rates. Countries such as China, India, Japan, and South Korea are key contributors to the growth of the mobile VAS market in the region. The Asia-Pacific region has witnessed significant demand for mobile content, mobile commerce, and mobile payment services, driven by a young and tech-savvy population, increasing internet penetration, and the proliferation of mobile devices. The region has a thriving mobile app economy, with a wide range of VAS offerings spanning entertainment, e-commerce, social media, and productivity tools. Asia Pacific also serves as a hub for technology innovation and investment, with Silicon Valley and other tech hubs driving the development of cutting-edge mobile VAS solutions.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The Mobile Value Added Service (VAS) market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive networks and online platforms, providing consumers with easy access to a wide variety of mobile VAS options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving service adoption. Moreover, these industry giants continually invest in research and development, introducing innovative solutions, technologies, and features in mobile VAS, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the mobile VAS market.
List of Market Players Profiled
- AT&T (U.S.)
- Apple (U.S.)
- Alphabet (U.S.)
- Blackberry (Canada)
- Samsung Electronics (Sout Korea)
- Sprint (U.S.)
- Vodaphone Group (U.K.)
INDUSTRIAL DEVELOPMENT
February 2024: Announced plans for Snapdragon X35 5G Modem-RF System, targeted at mobile devices using 5G technology. This could impact cloud gaming and AR/VR experiences.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 619430 Million in 2021 |
Market Size Value By |
US$ 1356670 Million by 2028 |
Growth Rate |
CAGR of 11.6% from 2021 to 2028 |
Forecast Period |
2021-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the mobile value added service market expected to touch by 2028?
The global mobile value added service market is expected to reach USD 1356670 million by 2028.
-
What CAGR is the mobile value added service market expected to exhibit by 2028?
The mobile value added service market is expected to exhibit a CAGR of 11.6% by 2028.
-
Which are the driving factors of the mobile value added service market?
Smartphone penetration and mobile technology, and mobile internet usage and digital entertainment are some of the driving factors of the Mobile Value Added Service market.
-
What are the key mobile value added service market segments?
The key Mobile Value Added Service market segmentation that you should be aware of, which include, Based on type the mobile value added service market is classified as short message service (SMS), multimedia messaging service (MMS), interactive voice & video response, wireless application protocol, unstructured supplementary service data, & others. Based on application the mobile value added service market is classified as consumer, enterprise, network provider.