The Mobile Value Added Services Global Market Report 2023 by The Business Research Company, provides mobile value added services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Mobile Value Added Services Global Market Report 2023, the market size will grow from $796.04 billion in 2022 to $894.84 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the mobile value added services is expected to grow to $1459.09 billion in 2027 at a CAGR of 13.0%.
The increase in smartphone customers globally is driving the growth of the mobile value-added services market. The demand for smartphones is increasing due to growing internet penetration, rising income levels, rising subscriptions to social media, improved communication needs, and others. During the COVID-19 pandemic, the usage of smartphones dramatically increased due to long quarantine periods and work-from-home scenarios. This increase in smartphone customers will drive demand for mobile value-added services as smartphones need these services to provide customers with the necessary facilities such as messaging, communication, entertainment, e-commerce, and others.
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The mobile value added services market is segmented:
1) By Solution: Mobile Advertising, Location-Based Services, Mobile Infotainment, Mobile Email & IM, Short Messaging Service (SMS), Multimedia Messaging Service (MMS), Mobile Money, Other Solutions
2) By Store: Google Play, App Store (iOS), Other Stores
3) End-user: Individual, Enterprise
Strategic partnership is a key trend in the mobile value-added services market. Key companies are focusing on strategic partnerships to leverage each other’s expertise, technology, and resources to offer new and enhanced mobile value-added services to customers. These partnerships also help companies to expand in new markets and scale up the business. For instance, in December 2020, Vodafone Business, a UK-based technology communications company (part of Vodafone Group PLC.), and Ring Central Inc., a US-based company that provides businesses with different cloud-based business communications solutions announced a partnership to offer new cloud-based communications services. This partnership aims to develop a new co-branded, cloud-based service that will serve as the primary Unified Communications as a Service (UCaaS) solution for Vodafone Business and provide Contact Center as a Service (CCaaS) to Vodafone Business clients. The platform will provide flexible, easy-to-use, and secure services by combining Vodafone Business’ mobile-first strategy, a worldwide brand, reach, and scale with RingCentral’s extensive UCaaS and CCaaS experience. As part of the agreement, Vodafone Business will offer value-added services in migration, adoption, and integration to make customers take full benefit of the platform.
The mobile value added services market report table of contents includes:
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Top Major Players
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