New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mobile Value Added Services Global Market Report 2023" - https://www.reportlinker.com/p06319497/?utm_source=GNW
, Telkom SA SOC Limited, Verizon Communications Inc., Huawei Investment & Holding Co Ltd., and ZTE Corporation.
The global mobile value added services market grew 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 mobile value added services market is expected to grow to $1459.09 billion in 2027 at a CAGR of 13.0%.
The mobile value-added services market includes revenues earned by entities by providing mobile value-added services that create and sustaining new revenue streams for mobile service providers.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Mobile value-added services refer to those services that telecom service companies give to customers in addition to their main SMS, voice, and data services.The services can be either free or pay-for-use.
VAS are mostly used in the entertainment, e-commerce, sports, and other industries.
North America was the largest region in the mobile value-added services market in 2022 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the mobile value-added services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of solutions in mobile value-added services includes mobile advertising, location-based services, mobile infotainment, mobile email & IM, short messaging service (SMS), multimedia messaging service (MMS), mobile money, and others.Mobile advertising refers to advertising services on smartphones and mobile devices provided by telecoms to customers.
It refers to all interactive channels used by advertisers to convey or promote brand information, news, or offers via mobile devices or networks. These services are provided through google play, app store (IOS), and other stores and they are used by both enterprises and individuals.
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 growth of the mobile value-added services market.
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.
In June 2020, Sinch AB, a Sweden-based cloud communications company acquired ACL Mobile Limited for around $67.70 million (INR 5,350 million). Through this acquisition, Sinch will achieve essential scale in India, the world’s second-largest mobile market. It will add clients, experience, and technology as well as enhance its global messaging product for discriminating enterprises with global demands. ACL Mobile Limited is an India-based telecommunications company that provides a communications platform for SMS, phone, e-mail, WhatsApp, and alerts.
The countries covered in the mobile value-added services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The mobile value-added services market research report is one of a series of new reports that provides mobile value-added services market statistics, including Mobile value-added services industry global market size, regional shares, competitors with a mobile value-added services market share, detailed mobile value-added services market segments, market trends and opportunities, and any further data you may need to thrive in the mobile value-added services industry. This mobile value-added services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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