The global mobile value-added service market is increasing at a brisk pace owing to the speedy utilization and growing penetration of smartphones. The requirement for value-added services is rising among the users of mobile phones who have a great requirement for connectivity and portability. Mobile phones are not only utilized for making calls they have turned into multipurpose devices that can allow users to admittance apps, and web surfing, read the news, check e-mails, and have social media interactions. As the universe is moving towards faster telecommunication services and a high rate of internet penetration, the market for mobile value-added services is bound to augment. One of the latest trends in the ground of mobile value-added services is the emergence of location-enabled mobile value-added services.
Lower prices of smartphones have augmented the penetration of mobile phones among the lower-income population of emerging nations, leading to the growing demand for mobile value-added services.
According to SPER market research, ‘Mobile Value-Added Services Market Size- By Solution, By End User, By Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the global mobile value-added services market is predicted to reach USD 3513.18 billion by 2032 with a CAGR of 14.92%.
The market for mobile value-added services is being propelled by causes such as an augment in the number of smartphone and tablet users, greater use of mobile applications and mobile web, mobile internet utilization, and augmented return on marketing expenditure. Several vendors have fostered competition among Internet service vendors. As of now, individuals utilize their smartphones to check a variety of applications, check their emails, browse the web, interact on social media, and several others. In order to advance the user experience, mobile value-added services are services providers propose to clients in addition to voice, data services, and SMS.
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Mobile Value-Added Services Market Key Players:
The Global Mobile Value-Added Services Marketstudy provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Alphabet Inc., Apple Inc., Comviva Technologies, Huawei Investment & Holding Co. Ltd., Mozat, One97 Communication, Onmobile Global Limited, Reliance Industries Ltd., Samsung Electronics Co. Ltd., Vodafone Group plc.
The prices of cell phones, tablets, smartphones, and linked goods have drastically dropped, allowing mobile value-added service companies to augment their consumer base by fascinating members of the middle and lower middle classes. So that the growing number of smartphone users is predicted to introduce progressive market income for global mobile value-added services. These aspects are predicted to foster the mobile value-based services market growth.
Increment in the utilization of mobile applications and mobile web is one of the foremost aspects propelling the growth of the mobile value-added services market. Augment in social networking applications and mobile payments is helping support the mobile value-added services market size. The growing requirement for entertainment services on mobile software is also a foremost trend being observed in the mobile value-based services market, thereby resulting in the growth of online video content, live TV shows and events, and localized vernacular content.
Asia-Pacific was the leading region in terms of the global market during the previous year, and it is predicted that it will continue to advance at the fastest rate throughout the forecast duration. The Asia-Pacific area has a great population of mobile phone users, and these devices are commonly utilized for entertainment determinations involving news, mobile banking, movies, and several other forms of media. The market is predicted to expand speedily due to a variety of aspects, involving an augment in the number of companies and industry verticals employing dissimilar mobile value-added services and the region’s boosting the retail, e-commerce, IT, and telecommunications industries.
Global Mobile Value-Added Services Market Segmentation:
By Solution: Based on the Solution, Global Mobile Value-Added Services Market issegmented as; Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Location Based Services, Mobile Email & IM (Instant Message), Mobile Money, Mobile Advertising, Mobile Infotainment, Others.
By End User: Based on the End User, Global Mobile Value-Added Services Market is segmented as; Small and Mid-Size Business, Large Enterprises.
By Vertical: Based on the Vertical, Global Mobile Value-Added Services Market is segmented as; Media and Entertainment, Healthcare, Education, Retail, Government, Telecom and IT, Others.
By Region: Asia-Pacific was the leading region in terms of the global market in previous year, and it is anticipated that it will continue to develop at the fastest rate during the forecast period. The Asia-Pacific area has a large population of mobile phone users, and these devices are primarily utilised for entertainment purposes including news, mobile banking, movies, and other forms of media. The market is anticipated to expand quickly due to a variety of factors, including an increase in the number of companies and industry verticals employing different mobile value-added services and the region’s booming retail, e-commerce, IT, and telecommunications industries.
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