The mobile value added services market size is expected to see rapid growth in the next few years. It will grow to $1621.73 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to rise of iot and connected devices, emergence of edge computing, expansion of mobile e-commerce, continue growth of mobile health services, cross-industry collaborations.. Major trends in the forecast period include 5g technology adoption, integration of augmented reality (ar) and virtual reality (vr), growth of mobile health and wellness services, innovations in mobile gaming, expansion of mobile learning and edtech..
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. For instance, according to the survey of smartphone ownership commissioned by a nonpartisan American think tank, the Pew Research Center, the share of Americans that own a smartphone increased from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). In addition, according to the India Brand Equity Foundation (IBEF), the Indian smartphone market observed a 10-fold expansion from 14.5 million smartphone shipments in 2011 to 150 million in 2020. Thus, the increase in smartphone customers globally will propel the mobile value-added services market growth.
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The mobile value added services market covered in this report 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) By 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 2022, Djezzy, an Algerian telecommunications operator, partnered with Algeria Telecom, an Algerian telecommunication company, to improve the quality of service (QoS) for each company’s clients and facilitate service exchanges between the two organizations. The partnership’s primary goal is to exchange value-added services, which will advance Algeria’s ICT industry and raise quality of life.
The mobile value added services market report table of contents includes:
- Executive Summary
- Mobile Value Added Services Market Characteristics
- Mobile Value Added Services Market Trends And Strategies
- Mobile Value Added Services Market – Macro Economic Scenario
- Global Mobile Value Added Services Market Size and Growth
……….
- Global Mobile Value Added Services Market Competitive Benchmarking
- Global Mobile Value Added Services Market Competitive Dashboard
- Key Mergers And Acquisitions In The Mobile Value Added Services Market
- Mobile Value Added Services Market Future Outlook and Potential Analysis
- Appendix
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