The global MVAS market is anticipated to grow at a significant CAGR of 17.08% during the forecast period (2022-2028). The increased need for communication systems has resulted in an increase in the number of people using smart phones and tablets. These reasons are propelling the growth of the MVAS market. Short message services (SMS), multimedia messaging services (MMS), instant messaging, mobile money, mobile infotainment, mobile advertising, and location-based services are some of the MVAS that allow mobile users to utilize their smart phones or tablets for a variety of purposes.Mobile phones, cell phones, tablets, and associated goods have all dropped in price significantly in past few years, allowing MVAS providers to expand their customer base to encompass the middle and lower sections of society.
A full report of Global Mobile Value-Added Services (MVAS) Market is available at:https://orionmarketreports.com/global-mobile-value-added-services-mvas-market/26292/
Among all applications, the government segment is the fastest-growing market segment which is propelling the market growth due to increased internet services, SMS services, and customer desire for high-end content. Telecom companies and governments globally are working together to improve performance implementation in rural areas so that telecom businesses can offer their services in such remote areas. According to India Brand Equity Foundation, In September 2021, the total number of subscribers was 1.2 billion in the country. Rural tele-density increased to 59.33% in September 2021, up from 58.96% in September 2020. This rise suggests a potential increase in demand from the rural sector. Additionally, the Production Incentive Scheme (PLI) for large-scale electronics manufacturing was approved by the government of India in March 2020. The strategy includes a production-linked incentive to boost local manufacturing and attract significant investments in mobile phone manufacturing and specific electronic components, such as ATMP units (Assembly, Testing, Marking, and Packaging). Such factors are generating significant opportunities for the MVAS market in India.
Another key growth-inducing element is the increasing inclination towards value-based content in the form of over-the-top (OTT) media services. Furthermore, the growing trend of digitization across industries is boosting market growth expectations. For instance, car rental companies use mobile location-based services (LBS) to provide tracking capabilities to their customers. Health and information technology, in combination with the use of electronic health records also represents some great opportunities for transforming the healthcare system into a more patient-centred system. The capabilities of remote treatment and patient diagnostics via mobile phones have improved with the development of LTE services, such as 3G and 4G, pushing market expansion of MVAS.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By Solution
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- AT&T, Apple Inc., Vodafone Group Plc, Tech Mahindra Ltd., and On Mobile Global Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global MVAS Market Report by Segment
By Application
- Healthcare
- BFSI
- Telecom &IT
- Media &Entertainment
- Government
- Retail &Consumer Goods
- Others
By Solution
- SMS
- MMS
- Instant Messaging/Email
- Mobile Money
- Infotainment
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