Mobile Value-added Services (VAS) Market size is set to grow by USD 723.25 billion from 2022-2027; The rapid increase in smartphone penetration boosts the market- Technavio
NEW YORK, June 19, 2023 /PRNewswire/ -- The global mobile value-added services (VAS) marketsize is estimated to grow by USD 723.25 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 15.76%. The growth momentum will progress during the forecast period. APAC is estimated to account for 58% of the global market growth during the forecast period. APAC has dominated the mobile value-added services market in 2022 due to the rapid penetration of smartphones and mobile broadband in emerging economies such as China and India. Many international and domestic vendors offering smartphones and mobile broadband services in these countries have aided in the penetration of mobile devices and the Internet. With increased investments and government initiatives aimed at developing mobile technology infrastructure in the future, APAC is expected to continue its dominance in the global mobile value-added services market during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Global Mobile Value-added Services (VAS) Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on the product (mobile advertising, mobile games, mobile music and video streaming, mobile money and m-commerce, and mobile publications), end-user (large enterprises, small, and medium enterprises), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
· The market growth will be significant in the mobile advertising segment during the forecast period. With the rapid adoption of mobile broadband, video advertising offers consumers an attractive format in a non-intrusive manner. These ads are typically placed in over-the-top (OTT) applications and social media platforms, with consumer clicks and application installs being key parameters for measuring advertiser revenue generation. Certain developing markets such as Africa and South America still depend primarily on SMS and MMS advertising, though the growth of mobile broadband in these markets will see a shift toward mobile internet-based advertising during the forecast period.
Insights on the market contribution of various segments including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report
Global Mobile Value-added Services (VAS) Market ? Market Dynamics Key factor driving market growth
The market is driven by the rapid increase in smartphone penetration.
Consumers are increasingly using their mobile devices for a variety of purposes, from gaming and web browsing to e-commerce and social media interactions.
Moreover, mobile phone manufacturers also offer a wide range of smartphone deals at competitive prices, and consumers can choose smartphones that meet their specific needs.
Smartphone penetration will continue to grow, especially in emerging markets such as India and China, due to improvements in internet speed and technological infrastructure.
This is anticipated to drive the mobile communications market (VAS) during the forecast period.
Leading trends influencing the market
The increasing popularity of AR in location-based games is another major factor supporting the mobile value-added services (VAS) market growth.
The adoption of AR in location-based games, where virtual content is layered over real-world surroundings and objects, is increasing.
The growth in popularity of AR in location-based games can be attributed primarily to platform flexibility.
The growing trend of game offerings that merge AR with LBS is expected to attract significant investment from key mobile VAS providers such as Alphabet and Apple.
This, in turn, will drive the mobile games segment, thereby fueling the growth of the global mobile value-added services (VAS) market.
Major challenges hindering the market growth
The constraints in content monetization will be a major challenge for the mobile value-added services (VAS) market.
Traditionally, the major revenue share for mobile service providers was generated from voice calls.
However, owing to the rapid reduction in call tariffs and the advent of popular online calling applications and IM services, which provide free voice and video calling services, the revenue generated from voice calls has declined drastically.
Hence, monetizing content to substitute voice call revenue is expected to hinder the growth of the global mobile value-added services (VAS) market.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Mobile Value-added Services (VAS) Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the Mobile Value-added Services (VAS) Market between 2023 and 2027
Precise estimation of the size of the Mobile Value-added Services (VAS) Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the Mobile Value-added Services (VAS) Market industry across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Mobile Value-added Services (VAS) Market vendors
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Mobile Value-added Services (VAS) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 15.76%
Market growth 2023-2027
USD 723.25 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
13.89
Regional analysis
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 58%
Key countries
US, China, Japan, India, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Alphabet Inc., America Movil SAB de CV, Apple Inc., AT and T Inc., Call Up, Cisco Systems Inc., Comviva Technologies Ltd., Huawei Technologies Co. Ltd., Infosys Ltd., InMobi Pte. Ltd., International Business Machines Corp., Monty Mobile, MyRepublic Ltd, OnMobile Global Ltd., Reliance Industries Ltd., Samsung Electronics Co. Ltd., Singapore Telecommunications Ltd., Telcovas Solutions and Services Pvt Ltd, Telefonaktiebolaget LM Ericsson, and Vodafone Group Plc
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Content
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 06: Executive Summary ? Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global mobile value-added services (VAS) market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global mobile value-added services (VAS) market 2017 - 2021 ($ billion)
Exhibit 179: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 180: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 181: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 182: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 183: Telefonaktiebolaget LM Ericsson - Segment focus
12.17 Vodafone Group Plc
Exhibit 184: Vodafone Group Plc - Overview
Exhibit 185: Vodafone Group Plc - Business segments
Exhibit 186: Vodafone Group Plc - Key offerings
Exhibit 187: Vodafone Group Plc - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 188: Inclusions checklist
Exhibit 189: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 190: Currency conversion rates for US$
13.4 Research methodology
Exhibit 191: Research methodology
Exhibit 192: Validation techniques employed for market sizing
Exhibit 193: Information sources
13.5 List of abbreviations
Exhibit 194: List of abbreviations
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