Mobile Value-added Services (MVAS) Market Analysis

Mobile Value-added Services Market Analysis

The mobile banking and payments are the fastest growing segments in the MVAS market. Presence of factors such as high-speed networks and tariff charges act as the key growth drivers. Services such as mobile wallet, mobile remittance and business correspondence are expected to provide major opportunities for the industry growth.
 

The market has witnessed a rapid shift in customer preference from enriched to transformational services. The gap between the basic nature of existing VAS and the customer interest in advanced data services today shows that there is substantial untapped potential for industry growth. The current market landscape only skims the surface of customer requirements.
 

With the rapid rise in media consumption in digital formats, an increase in the number of mobile devices which can support digital media with high LTE speeds is propelling the mobile value-added services market size across the globe. It has offered customers an opportunity to access the media content of choice anytime, anywhere.
 

Health and IT coupled with the usage of electronic health records offer some exciting possibilities and have great potential to transform the healthcare system into an improved patient centered system. With the introduction of LTE services such as 3G and 4G, the possibilities of remote treatment and patient diagnosis through mobile phones have strengthened, driving the market growth.
 

Telecom operators and VAS providers have been considering usage of mobile phones for diagnostic & treatment support, remote disease monitoring, communication and heath awareness.
 

The U.S. mobile value-added services market share exceeded 25% of the global revenue in 2016. Media consumption in the country has shown a rapid increase and has seen an important jump from legacy media to new digital media. Rise of digital media players such as Amazon, Apple TV, Boxee, Hulu, Netflix, and Roku, are stimulating the authority of the TV as the main entertainment hub.
 

In Latin America, development of the market will be mainly driven by operators expanding network coverage to underserved and unserved regions, officials employing pro-competition policies, such as the easing of the entry of MVNOs and new operators, and the interest of cellular IoT/M2M. In addition, enterprises in Latin America will expand their IT budgets for MVAS, thereby offering a huge prospect for MNOs and tech vendors.