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Mobile Value-Added Services Market Analysis:The global mobile value-added services market is poised to touch a valuation of USD 1,047. 6 million by 2023, predicts Market Research Future (MRFR). It was previously worth USD 393.3 billion in 2017. Amid high consumer demand, the Mobile Value-Added Services Market is expected to register a CAGR of 18.5% during the forecast period (2018-2023).
The proliferation of smartphones is the primary driver of the market. Increasing numbers of smartphone users thanks to the shift from 3G technology to 4G is projected to boost market growth. The compact size of the phones coupled with a wide array of offerings by telecommunication providers and their content partners is likely to facilitate Mobile Value-Added Services Market growth over the forecast period.
Evolution of network communication technologies combined with the availability of Internet on various smartphones has increased the scope of the market. The young demographic with a hunger for native and international content coupled with availability of games are likely to bolster demand for the mobile value-added services market by 2023. In addition, presence of over-the-top (OTT) content providers and social media applications is expected to bode well for the market.
New applications to replace messaging such as application-to-person messaging, in-aisle payment, and OTT messaging are expected to pave open the way for the market till 2023. But lack of telecommunication infrastructure and data security concerns can impede the growth trajectory. Need for customized services as per the interests of the user is likely to be the tipping point for the market. Location-based services are likely to influence the mobile value-added services market scenario.
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Major Key Players:
Leading players profiled in the mobile value-added services market include Vodafone Group PLC (U.K.), Google (U.S.), OnMobile Global Limited (India), AT&T Inc. (U.S.), InMobi Pte Ltd. (Singapore), Mahindra ComViva (India), Kongzhong Corporation (China), One97 Communications Limited (India), Apple Inc. (U.S.), and others.
May 2019- BLT (Blue Label Telecoms) has received green signal and is thus intending to acquire 50% business of Hyve Mobile, a value-added services and next generation mobile content platform. Hyve Mobile makes products for device manufacturers and mobile operators all through Africa. Their product portfolio ranges from religious services, cultural services, news, sports, dating, gaming and others which work across mobile web, SMS and USSD. Labels Telecom is run by brothers and joint CEOs, Brett and Mark Levy.
Market Segmentation:
The MRFR report offers a wide segmental analysis of the mobile value-added services market on the basis of solution, product and vertical.
• Based on solution, it is segmented into multimedia messaging service (MMS), short message service (SMS) and others. Others include SMS-to-Email, SMS-to-IVR, IVR-to-SMS, SMS-to-MMS and others. Of these, SMS will have the largest share in the market over the predicted years owing to number of subscribers using it for primary communication and affordable data rates.
• Based on product, the mobile value-added services market is segmented into email and IM, mobile advertising, mobile music and games, mobile commerce, mobile wallet and others. Of these, mobile wallet will dominate the market over the estimated years owing to the convenience it offers and ease of cashless transactions. This will be followed by mobile commerce as well as mobile music and games.
• Based on vertical, it is segmented into healthcare, retail, government, IT and telecommunications, media and entertainment, banking and finance and others. Of these, banking and finance will lead the market over the estimated years. This will be followed by IT and telecommunication and media and entertainment.
Regional Analysis:
By region, the mobile value-added services market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will rule the roost over the estimated years.
The market here is predicted to touch USD 401.51 million by 2023. This is due to presence of large subscriber base and telecommunication behemoths. Also, rapid use of smartphones and other demographics for prompt communication is boosting the market growth in this region.
In the Asia Pacific region, the mobile value-added services market is predicted to touch USD 271.69 million at a robust 23.91% CAGR over the estimated years. Growing use of over-the-top applications namely WeChat, WhatsApp and others are predicted to net higher revenues for the market in this region. Besides, the inclination for mobile wallets will again act as a plus for the mobile value-added services market in this region.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued…
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List of Tables
Table 1 Mobile Value-Added Services Market, By Verticals
Table 2 Mobile Value-Added Services Market, By Solutions
Table 3 Mobile Value-Added Services Market, By Product
Continued…
List of Figures
Figure 1 Research Methodology
Figure 2 Mobile Value-Added Services Market, By Verticals (%)
Figure 3 Mobile Value-Added Services Market, By Solutions (%)
Continued…
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Release ID: 88917879
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