Overview
The mobile value-added services (MVAS) market is anticipated to witness healthy growth from 2020 to 2027, a research report suggests. Growing at a CAGR of 15.3%, the market is projected to reach US$309.1 billion by 2027. The rising numbers of various MVAS subscribers is expected to support the market growth along with the growing market landscape. As predicted by analysts, the lack of technical expertise will negatively affect the market’s performance from 2020 to 2027. During the forecast period, the market will be supported by the need for customized value-added services and innovative customized mobile apps.
The lack of skilled human resource on the other hand will challenge telecom services sector based organizations functioning in the global mobile value-added services (MVAS) market. Analysts have split the market into product, regions, store, type, and vertical segments based on products and services. Telecom services based companies have been profiled. Demand and supply gaps is set to affect the global market during the forecast period 2020 to 2027. The report also provides the market’s performance forecasts till 2027. Strategies of telecom services based companies are studied. The telecom services sector itself is supported by the growing urbanization as well as technological advancements. During the forecast period 2020 to 2027, the mobile value-added services (MVAS) market is set to witness a health growth across product, regions, store, type, and vertical segments as well as regional markets.
COVID-19 Analysis
Despite the COVID-19 disruption, the mobile value-added services (MVAS) are still garnering significant market prominence. Pre pandemic, the MVA services were already having a big impact on the telecom industry. The pandemic accelerated digitization and increased remote activities, and impacted corporate spending on ICT networks and services. This, as a result, has increased investments in the mobile value-added services industry.
The COVID-19 crisis brought a dramatic shift in consumer behavior from public spaces and physical meetings to digital interactions. The transition in the healthcare sector is even more pronounced, with 245% surges in telemedicine usages. It is expected that these changes would outlast the pandemic, marking a permanent shift in health-seeking behavior. The pandemic has also highlighted the crucial need for mobile value-added services in public health messaging.
Industry players worldwide are efficiently providing digital communications infrastructure to governments and health authorities. The MVAS messaging ecosystem empowers healthcare providers to send out real-time public health notifications and enables citizens to use different mobile channels to make appointments for COVID-19 tests and other services. Resultantly, the global mobile value-added services market has begun to garner traction, witnessing continually increasing investments.
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Market Segmentation
The telecom services sector has seen growth across product, regions, store, type, and vertical segments owing to the presence of untapped market opportunities and favorable government policies. To study the market, analysts have further segmented product, regions, store, type, and vertical into data, short message service (SMS), voice, and other value-added services on the basis of type. The market is further segmented into product sub segment which is split into email and IM, mobile advertising, mobile commerce, mobile games, mobile music, mobile wallet, and others. Additionally, the mobile value-added services (MVAS) market on the basis of store is segmented into Google Play, App Store, and others. Based on industry verticals, the market is further segmented into banking, BFSI, government, healthcare, IT & telecommunication, media & entertainment, retail, and others.
The segmental analysis presented in the report provides telecom services field based organizations insights into key growth factors such as the increasing awareness among consumers as well as challenges such as the lack of investments in R&D the market will face from 2020 to 2027. Technological developments and the rising numbers of various MVAS subscribers are some of the key factors having an influence on telecom services industry based companies, suggest analysts as per the mobile value-added services (MVAS) market report. But the report also identifies the lack of investments in research and development and the shifting preference for cheaper alternatives as major threats companies in telecom services will face till 2027.
Regional Overview
Telecom services market based companies in the mobile value-added services (MVAS) market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. A rise in the disposable income will be a key growth driver for regional markets. However, the growing penetration of alternatives in the market will turn out to be a threat. For the forecast period 2020 to 2027. Each of these regional markets are studied in the report. Starting from North America, the regional market and telecom services vertical based companies are spread across the United States, Mexico, and Canada.
The lack of developed infrastructure will turn out to be a major challenge from 2019 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing preference of consumers as well as the growth of communication channels, suggests the report. Similarly, the telecom services sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the mobile value-added services (MVAS) market covers the Middle East and Africa. The global mobile value-added services (MVAS) market forecasts based on the findings are presented for the forecast period till 2027.
Competitive Landscape
The global mobile value-added services (MVAS) market research report brings a comprehensive study of product, regions, store, type, and vertical market segments, regional analysis, and telecom services vertical based company details of key players. As the forecast period 2020 to 2027 will bring new opportunities for the market owing to the rising industrialization and the surging usage across different industries, the market is set to grow at a compound annual growth rate of 15.3% and is predicted to reach a value of US$309.1 billion by 2027. With SWOT analysis of telecom services sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as dynamic policies and regulations and the high cost deployment and maintenance, companies in the telecom services sector can change the way business is done.
Industry News
SINA Corporation, a major online media platform and value-added information service provider for Chinese and global Chinese populations, reported today that it has reached an agreement to buy Crillion Corp, one of China's leading mobile value-added service providers. SINA would acquire two million paid subscribers as a result of the deal, solidifying its leading position in China's mobile value-added content segment. Crillion, based in Shenzhen, collaborates with job centres across China to provide job referrals to a large number of job seekers through wireless short messaging service ("SMS").
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