Global Mobile Value-added Services Market to Garner Revenue of $1,464.1 Billion by 2027 at a CAGR of 15.3% from 2020 to 2027 - Current Trending Business Strategies [229 pages] Report by Research Dive

The global mobile value-added services market is expected to gain significant momentum in the forecast period 2020-2027. The short messaging service sub-segment is set to gain the highest market share. The large enterprises sub-segment is predicted to dominate the market. The Asia Pacific region is expected to further add to the market growth.

New York, USA, July 13, 2021 (GLOBE NEWSWIRE) -- The latest report published by Research Dive states that the global mobile value-added services market is expected to witness a significant rise in revenue from $479.0 billion in 2019 to over $1,464.1 billion by 2027 at a CAGR of 15.3% from 2020-2027.

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Market Analysis

There has been a drastic rise in the number of social networking applications along with online payment modes via apps. These factors along with the extensive use of mobile web have been major contributors to the growth of the mobile value-added services market.

Check out How COVID-19 impacts the Global Mobile Value-added Services (VAS) Market:

One of the primary limitations within the mobile value added market services is that there is a lack of privacy for the data being shared. The guideline and framework necessary haven’t been structured to adapt to the current times adding to the restraining factors of the market.

Several customers are provided with the mobile value added services the moment they subscribe to a service providers network. These are additions to the basic features like voice communication. The implementation of 4G and 5G infrastructure with the support of the rising usage of advanced devices such as tablets and smartphones has allowed the market to gain a large share.

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Segmental Analysis

The global mobile value-added services market is segmented into solutions, end user, vertical type, and region.

Short Messaging Services Sub-segment Predicted to Gain Highest Market Share

By solution, the short messaging service (SMS) sub-segment gained revenue of $94.1 billion in 2019 and is predicted to rise further at a CAGR of 14.2% from 2020-2027. Unlike before, people are able to send out instant messages to another individual which have made communication simpler. This has provided an opportunity for brands to work on SMS marketing tactics that could further build up their engagement and click-through rate. These factors are responsible for the extensive growth of the market.

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Large Enterprises Sub-segment to Garner Significant Revenue

By end user, the large enterprises sub-segment acquired revenue of $286.6 billion in 2019 and is set to rise ahead at a CAGR of 12.4% in the forecast period. Most of the larger organizations are capable of gaining profits even after lowering their business costs.

Government Sub-segment to Dominate the Market

By vertical type, the government sub-segment garnered a revenue of $104.4 billion in 2019 and is set to grow even further at a CAGR of 14.0% in the analysis period. The availability of multiple facilities such as internet services along with easier communication options such as SMS, the market is able to provide quality content to the users. These factors are responsible for the swift growth of the market.

Regional Analysis

The Asia-Pacific region is predicted to garner revenue of $455.8 billion by 2027, rising from $153.9 billion in 2019 at a steady CAGR of 14.9% in the forecast period. The presence of highly advanced yet affordable smartphone markets in countries such as China and India has boosted the growth of the regional mobile value added services market.

COVID -19 Impact on the Market

The mobile value-added services (VAS) market was positively affected by the COVID-19 outbreak, where it experienced significant demand from consumers.

The lockdown caused people to rely on apps to avail basic facilities such as grocery shopping and also to make online payments to avoid contact with cash. These factors helped the market grow immensely amidst the pandemic.

Key Market Players

The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:

1. Mozat
2. Vodafone Group, plc
3. Reliance Industries Ltd
4. Onmobile Global Limited
5. Alphabet, Inc
6. Apple Inc
7. Samsung Electronics Co. Ltd
8. Huawei Investment & Holding Co Ltd
9. Comvia Technologies
10. One97 Communication

The report offers many strategies and ideas of the top industry players functioning in the industry such as the current strategic plans & developments, financial performance, SWOT analysis, and product/service range. Click Here to Get Absolute Top Companies Development Strategies Summary Report


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