- Short Message Service (SMS)
- Voice & Data Value-Added Services (VAS)
Mobile Value-Added Services Market is estimated to be valued at USD 651.4 billion in 2021 and is poised to grow at a significant CAGR of 14.3% over 2022-2028. Mobile operators provide value-added services (VAS) through third-party content providers and on their own. MVAS providers offer services such as welcome tunes, voice messages, missed call alerts, news alerts, call block, call forwarding/diverting, videos, music, mobile games, and streaming services through mobile carriers under a revenue-sharing model, and mobile phone operators charge subscribers/customers. However, mobile operators must verify compliance with the regulator's mandate and get an agreement before installing a specific mobile VAS on a mobile phone user. Based on the type, the Mobile Value-Added Services Market is segmented into short message service (SMS), voice & data value-added services, which the short message service (SMS) is anticipated to grow the market owing to text messages or short messaging service messages are the communications mode that individuals send from their mobile phones. Because it allows you to convey information to big groups of people quickly and efficiently, short messaging is becoming a more popular e-marketing medium. Furthermore, SMS messaging offers better user engagement than other mobile marketing channels like email or social media. These are expected to be the primary drivers influencing the demand for mobile value-added services over the projected period as well. The increased use of mobile applications and mobile web is one of the primary reasons driving the growth of the mobile value-added services industry. The growing popularity of social networking applications and the acceptance of mobile payments is supporting the growth of the mobile value-added services market. Recent Market Developments: In January 2021 â€“ ZW Data Action Technologies, Inc. (the US), integrated data analytics, online advertising, precision marketing, and other value-added services company, announced its investment in Weiyouxin Technology, a private domain SaaS software operation service provider. In January 2021 â€“ PertSol (Part Telecom Solutions Pvt Ltd.) announced bagging a contract worth Rs 30 crore from state-run BSNL (India) to deploy Location Based System (LBS) for the telco's pan-India 2G/3G/4G networks. The telecom department mandated the deployment of LBS in 2014 under the Unified Access Service License (UASL) rules.
Fastest Growing Market
There is a rise in digital solutions, advanced applications, and value-added services in the market. The market has seen increased digital solutions, innovative applications, and value-added services. Multiple vendors have enhanced competition among Internet service providers. Smartphones are currently utilized for checking various applications, online surfing, emails, social media involvement, etc. Mobile value-added services (MVAS) are services that telecom service providers give clients in addition to voice, SMS, and internet services to improve the user experience. The mobile value-added services industry is predicted to be driven by lower smartphone pricing due to increased competition among manufacturers and service providers. Lower smartphone pricing has improved mobile phone adoption among emerging countries' lower-income populations, increasing demand for mobile value-added services.
The key competitors are Apple Inc., Vodafone Group Plc, Bharti Airtel Limited, AT&T Inc., OnMobile, Spice Digital Limited, Comverse Technology, Inc., One97 Communications, and Google LLC in the market.
The Short Message Service (SMS) segment is anticipated to have the uppermost CAGR in the forecast period.
The mobile games segment is expected to create lucrative opportunities in the market based on Product type.
The UK is anticipated to conquer the most significant portion of the market share in the forecast period.