Mobile services that mobile service providers offer in addition to voice communication services are referred to as "mobile value-added services" (MVAS). Mobile virtual assistant services (MVAS) enable mobile users to use smartphones and tablets for a variety of non-voice functions. These functions include location-based services, mobile advertising, mobile infotainment, mobile email & instant messaging, sending short message services (SMS), multimedia messaging services (MMS), mobile money, and mobile email & instant messaging.
According to SPER Market Research, ‘Global Mobile Value-Added Services Market Size- By Solution, By End-User, By Vertical - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Mobile Value-Added Services Market is estimated to reach USD 3335.68 billion by 2033 with a CAGR of 14.43%.
Drivers: The market for mobile value-added services is being driven by factors such as an increase in smartphone and tablet users, mobile Internet usage, increased use of mobile applications and mobile web, and a higher return on marketing effort. Multiple vendors have enhanced competition among internet service providers. Nowadays, people use smartphones to access a variety of apps, browse the web, check their emails, connect with social media, and so on. Telecom service providers offer mobile value-added services in addition to voice, SMS, and internet services, with the goal of improving the client experience.
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Restraints: The absence of rules and regulations for the numerous market players in mobile value-added services (MVAS) may make it more difficult for users to utilise these services. The confidentiality of value-added service customers' data and information is imperative due to the swift progress of emerging technologies. Lack of privacy is the main issue facing the mobile value-added services business. Lack of government initiatives and inadequate customer authentication skills for services that need the exchange of sensitive data, like payments, may also hinder the market's progress.
Positive effects are seen in the market for mobile value-added services due to the COVID-19 epidemic. For instance, a lot of people are now aware of apps that let them order products online while they're at home, and more people are choosing to pay with their phones when they shop for groceries rather than cash or credit cards.
Digital communications infrastructure is being successfully provided to governments and health authorities by businesses worldwide. Medical professionals can send out real-time public health alerts using the MVAS messaging environment, while citizens can use various mobile platforms to schedule appointments for COVID-19 tests and other services.
Key Players:
Asia-Pacific dominated the global market in 2021 and is expected to be the fastest-growing subsegment during the forecast period. The Asia-Pacific area has a large number of mobile phone users, who primarily use their phones for entertainment purposes such as news, mobile banking, films, and so on. The market is predicted to grow rapidly due to factors such as an increase in the number of organisations and industry verticals employing various mobile value-added services, as well as the region's thriving retail, e-commerce, IT, and telecommunications industries. Major players in the market are Reliance Industries Ltd, Comviva Technologies, Alphabet Inc, Samsung Electronics Co Ltd, One97 Communications, and Others.
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Mobile Value-Added Services Market Future Share
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