PUBLISHER: The Business Research Company | PRODUCT CODE: 1392784
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392784
“Mobile Value Added Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile value added services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile value added services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The mobile value added services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Mobile value-added services encompass additional offerings provided by telecom service providers to customers beyond their core SMS, voice, and data services. These services can be either complimentary or involve a fee. VAS finds applications in various industries such as entertainment, e-commerce, sports, and more.
Key solutions within mobile value-added services include mobile advertising, location-based services, mobile infotainment, mobile email & instant messaging (IM), short messaging service (SMS), multimedia messaging service (MMS), mobile money, and other offerings. Mobile advertising involves promotional services on smartphones and mobile devices delivered by telecom companies to their customers. It encompasses interactive channels used by advertisers to convey brand information, news, or offers through mobile devices or networks. These services are accessible through platforms like Google Play, the App Store (iOS), and other app marketplaces, catering to both enterprises and individual users.
The mobile value-added services market research report is one of a series of new reports from The Business Research Company that provides mobile value-added services market statistics, including Mobile value-added services industry global market size, regional shares, competitors with a mobile value-added services market share, detailed mobile value-added services market segments, market trends and opportunities, and any further data you may need to thrive in the mobile value-added services industry. This mobile value-added services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mobile value added services market size has grown rapidly in recent years. It will grow from $875. 55 billion in 2023 to $982. 1 billion in 2024 at a compound annual growth rate (CAGR) of 12. 2%. The growth in the historic period can be attributed to factors such as the increase in mobile penetration and subscriber base, the proliferation of smartphones and increased data usage, the development of the mobile app ecosystem, the popularity of SMS and messaging services, and the growth of mobile content and entertainment.
The mobile value added services market size is expected to see rapid growth in the next few years. It will grow to $1621. 73 billion in 2028 at a compound annual growth rate (CAGR) of 13. 4%. The growth in the forecast period can be attributed to the rise of IoT and connected devices, the emergence of edge computing, the expansion of mobile e-commerce, the continued growth of mobile health services, and cross-industry collaborations. Major trends in the forecast period include the adoption of 5G technology, the integration of augmented reality (AR) and virtual reality (VR), the growth of mobile health and wellness services, innovations in mobile gaming, and the expansion of mobile learning and edtech.
The growth of the mobile value-added services market is being propelled by the increasing number of smartphone users worldwide. The surge in demand for smartphones is attributed to factors such as growing internet penetration, rising income levels, increased subscriptions to social media, enhanced communication needs, and more. The COVID-19 pandemic further intensified smartphone usage due to extended quarantine periods and widespread work-from-home scenarios. This rise in smartphone users is expected to generate demand for mobile value-added services, which are essential for providing customers with facilities such as messaging, communication, entertainment, e-commerce, and more. For example, a survey commissioned by the Pew Research Center revealed that the share of Americans owning a smartphone increased from 81% in February 2019 to 85% in February 2021, a significant rise from just 35% a decade ago (in 2011). Additionally, the Indian smartphone market witnessed remarkable growth, expanding from 14. 5 million smartphone shipments in 2011 to 150 million in 2020. Hence, the global increase in smartphone users is poised to drive the growth of the mobile value-added services market.
The surge in e-commerce is anticipated to be a driving force behind the growth of the mobile value-added services market. E-commerce, involving the online buying and selling of goods and services, has witnessed significant growth. Mobile value-added services play a crucial role in enhancing the convenience and security of mobile e-commerce, thereby fostering increased consumer trust and engagement. According to US eCommerce statistics, 65% of consumers expect to use internet purchasing platforms more frequently in 2022, with projected e-commerce revenues reaching $6. 3 trillion by 2024. Additionally, in Spain, Esw, a global eCommerce management company, predicts an increase in eCommerce users from 29. 6 million to 36. 9 million by 2025, representing 74% of the total population. Therefore, the rise in e-commerce is expected to be a major driver of the mobile value-added services market.
Strategic partnerships have emerged as a notable trend in the mobile value-added services market. Key companies are increasingly entering into strategic partnerships to leverage each other's expertise, technology, and resources, aiming to offer new and enhanced mobile value-added services to customers. Such partnerships also facilitate business expansion into new markets and contribute to scaling up operations. For instance, in December 2022, Djezzy, an Algerian telecommunications operator, collaborated with Algeria Telecom, an Algerian telecommunication company, with the primary goal of exchanging value-added services to enhance Algeria's ICT industry and improve overall quality of life.
Major players in the mobile value-added services market are concentrating on delivering innovative solutions, such as mobile payments, to fortify their market positions. Mobile payment Value-Added Services (VAS) encompass digital services and features that facilitate secure and convenient financial transactions through mobile devices, including digital wallets, contactless payments, and mobile banking applications. In March 2021, Paytm, an Indian digital payments and financial services company, introduced Smart POS for Android devices, allowing contactless payments using NFC technology. This innovation transforms an Android smartphone into a point-of-service (POS) terminal, enabling card payments via NFC-enabled Android phones. Paytm also introduced the IoT-enabled Soundbox, providing instant voice-based payment confirmations to merchants, aiming to enhance convenience for both customers and merchants.
In April 2021, Zeepay, a Ghana-based fintech company, acquired Mangwee Mobile Money in Zambia for an undisclosed amount. Zeepay's acquisition is geared towards expanding its footprint across Africa, better serving global clients, and reducing the cost of remittance into Africa. Mangwee Mobile Money is a Zambia-based mobile money transfer and remittance platform.
Major companies operating in the in the mobile value added services market report are: Apple Inc., OnMobile Global Limited, Google LLC, AT&T Inc., Vodafone Idea Limited, Verizon Communications Inc., China Mobile Limited, Reliance Jio Infocomm Limited, Bharti Airtel Limited, Spice Digital Limited, Comverse Technology Inc., One97 Communications Ltd, Kongzhong Corp., InMobi, America Movil SAB DE CV, Cisco Systems Inc., Comviva Technologies Ltd., Huawei Technologies Co. Ltd., Monty Mobile, Reliance Industries Limited, Axiata Group Berhad, Telefonica S. A., MTN Group Limited, NTT DOCOMO INC., SK Telecom Co. Ltd., SoftBank Group Corp., Telstra Corporation Limited, Zain Group, Deutsche Telekom AG, Saudi Telecom Company
North America was the largest region in the mobile value-added services market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the mobile value added services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the mobile value added services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The mobile value-added services market includes revenues earned by entities by providing mobile value-added services that create and sustaining new revenue streams for mobile service providers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.