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Mobile value-added services (VAS) market size to grow by USD 723.25 billion between 2022 and 2027; Growth driven by the rapid increase in smartphone penetration - Technavio


NEW YORK, April 7, 2023 /PRNewswire/ -- The mobile value-added services (VAS) market is set to grow by USD 723.25 billion from 2022 to 2027 progressing at a CAGR of 15.76% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 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. Here is an exclusive report about market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download a Sample Report!

The mobile value-added services (VAS) market covers the following areas:

Mobile Value-added Services (VAS) Market Sizing
Mobile Value-added Services (VAS) Market Forecast
Mobile Value-added Services (VAS) Market Analysis

Mobile Value-added Services (VAS) Market 2023-2027 - Market Dynamics

Trend:

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.

Challenge:

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.

Mobile Value-added Services (VAS) Market 2023-2027: Market Segmentation

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is segmented by 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. 

This report presents a detailed picture of the market by the way of study, synthesis, and
summation of data from multiple sources through an analysis of key parameters - View a
Sample Report

Companies Mentioned

The global mobile VAS market is highly competitive, with the presence of many international and domestic vendors. Many new players are entering the market, especially in emerging markets, as the rapid adoption of smartphones and the high penetration of mobile broadband services are increasing the demand for mobile VAS among consumers. However, major international players have a competitive advantage due to higher investment opportunities and diversified product portfolios, which will help them compete during the forecast period. 

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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&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, and Market condition analysis for the 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.

Browse through Technavio's Communication Services Market Reports

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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