MVAS For Location-Based Services To Offer Tracking Facilities For Customers.
Increasing need for improved user experience and rapidly increasing enterprise internet users are some key factors driving market revenue growth
Market Size – USD 742.26 Billion in 2021, Market Growth – at a CAGR of 15.1%, Market Trends – Increasing penetration of internet.
The global Mobile Value Added Services (MVAS) market size is expected to reach USD 2,631.63 Billion in 2030 and register a revenue CAGR of 15.1% over the forecast period, according to a latest report by Reports and Data. Increasing need for improved user experience and rapidly increasing enterprise internet users are expected to drive market revenue growth during the forecast period. Increasing penetration of internet is also expected to boost revenue growth of the market going ahead. Rapidly growing urbanization, IT infrastructure, and favorable government and business policies have increased the number of internet users. Use of internet can create significant growth in key sectors such as education, healthcare, energy, and governance in an economy. In addition, social media applications and social networking sites are responsible for generating a large volume of information, which will continue to increase demand for internet in the future, which will drive the market revenue growth during the forecast period. Internet users are growing due to technological development, an increasing generation of young workers, a decline in bandwidth constraints, and faster internet speeds. The innovations in Long-term evolution (LTE) and 5G technologies will provide fast internet access and facilitate the adoption of value-added services on mobile phones, which is expected to propel the market revenue growth in the near future.
However, concerns regarding security and privacy are expected to hamper revenue growth of the market during the forecast period. Due to the growing demand for MVAS in mobile industry, the subscription price is also increasing. Though MVAS provide advantages, including ease of use, safety and cost-effectiveness, privacy issues and criminal conspiracy problems may arise if MVAS are adopted on multiple devices. Many smartphones manufacturers deploy MVAS in their products, owing to improved customer service and availability of better content as per consumer demand. However, location based services can be used to track people without their knowledge. The availability of low-cost, easy-to-get open market location-based services increases the risk of criminal activity, and is expected to hamper the market revenue growth over the forecast period.
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Some Key Highlights in the Report
- Mobile email & instant messaging segment is expected to account for largest revenue share in the global MVAS market between 2021 and 2030, owing to an increasing number of end-use companies across every industry and growing need for an easy, fast, and secure mode of communication among corporate users.
- The MVAS market in North America is expected to account for largest revenue share over the forecast period. High presence of MVAS providers providing digital media players such as Amazon, Apple TV, Boxee, Hulu, Netflix, and Roku is expected to drive revenue growth of the market in the region.
- Companies profiled in the global market report include Apple, Inc., Google LLC, AT&T, Inc., Kongzhong Corporation, Sangoma Technologies Corporation, OnMobile Global, Ltd., Symsoft AB, StreamWIDE SA, Comviva Technologies, Ltd., and One97 Communications, Ltd.
- In May 2021, AT&T, Inc. announced a deal to merge its content unit WarnerMedia with Discovery, which will be one of the largest Hollywood studios to compete with media giants Netflix and Disney. The collaboration will offer better value-added streaming services with lot of flexibility. In addition, AT&T, Inc. will make the service cost-effective as compared to other competitors.
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For the purpose of this report, Reports and Data has segmented the global Mobile Value Added Services (MVAS) market based on solution type, store, end use, and region:
Solution Type Outlook (Revenue, USD Billion; 2019-2030)
- Short Messaging Service (SMS)
- Multimedia Messaging Service (MMS)
- Location Based Services
- Mobile Email & Instant Messaging
Store Outlook (Revenue, USD Billion; 2019-2030)
- Google Play
- App Store (iOS)
End use Outlook (Revenue, USD Billion; 2019-2030)
- Media and Entertainment
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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