Mobile Value-Added Services (MVAS) Market Size And Future Growth 2022-2030
The Mobile Value-Added Services (MVAS) market is projected to grow USD 733.83 billion by 2030, exhibiting a CAGR of 14.30% during the forecast period (2022 - 2030).
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Mobile Value-Added Services (MVAS) Market Overview
The global Mobile Value-Added Services (MVAS) Market industry is projected to grow from USD 287.92 Billion in 2022 to USD 733.83 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.30% during the forecast period (2022 - 2030). Value-added services have existed for a long time in the telecommunication sector as people have increased their use of mobile phones. All telecommunication operators offer VAS like welcome tunes, voice messages, and missed call alerts. People are using value-added services to increase the value of their experience while using mobile phones. As people seek to use phones as digital devices for multiple purposes, value-added services are on the rise.
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Recent developments in Testing, Inspection, and Certification (TIC) include an increased focus on digital technologies, such as the use of artificial intelligence (AI) and machine learning (ML) to improve quality control and increase accuracy. Additionally, the emergence of autonomous and connected cars is driving the need for certification testing to ensure that vehicles meet safety and performance requirements. The market is also seeing an increase in demand for services related to product safety and compliance, as more companies are seeking certification to ensure their products meet the necessary regulatory standards. Furthermore, the growth of the Internet of Things (IoT) is creating new opportunities for testing, inspection, and certification services, as companies need to ensure their connected products and services are secure and compliant.
Mobile network operators provide these value-added services through third party content generators under a revenue-sharing model. The customer usually has to subscribe to certain value-added services through additional payments. As disposable incomes rise and people shift their workspace into one phone, the demand for value-added services has increased day by day. The need for missed call alerts, instant voice messages, and call blocking services has only gone up in recent times. Thus, the VAS market is at an advantage during the forecast period.
The report talks about the various factors that influence the Mobile VAS sector and discusses market segmentation and regional analysis of the market for a better understanding of revenue flow. The report also discusses recent industry news to highlight the trends of the mobile VAS industry. The MVAS industry undergoes healthy growth in the forecast period and experiences an expansion in size and revenue.
Mobile Value-Added Services (MVAS) Market Segmentation
The MVAS market is segmented into different industrial segments based on different criteria. By type, the market divides into SMS, voice, and data-based VAS. The SMS-based VAS is the dominating sector by type.
The next segment divides by-products, including mobile games, mobile wallets, and mobile music. The leading industrial segment by-product is mobile games. Another segment in discussion is the store segment that includes Google Play and App store as major stores for these services.
Another discussion segment is vertical-based, subdividing into Media and Entertainment, IT, healthcare, BFSI, etc.
Regional Analysis
The Mobile Value-Added Services (MVAS) Industry Analysis by Region discusses the different regional markets of the MVAS industry and growth trends in each market. The major regional markets contribute to creating Mobile Value-Added Services (MVAS) Market Growth collectively. The major regional markets of the MVAS industry disperse over North America, South America, Europe, Asia Pacific, and the Rest of the World.
Different regional markets show individual CAGR responsible for the individual pace of growth and create the cumulative trend of growth for the global market.
The North American region emerges as a clear leader during the forecast period, followed by the European region. Due to innovative technologies and remote communication, the MVAS market is set to grow both regionally and globally.
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Industry News
In January 2021, ZW Data Action Technologies, Inc., a prominent value-added services company, announced its decision to invest in Weiyouxin Technology, a private SaaS service provider company. In the same month, PertSol bagged a 30 crore contract from Indian government-based BSNL to deploy LBS for pan India 2G, 3G, and 4G networks.
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