Mobile Value-added Services (MVAS) Market Size

Mobile Value-added Services Market Size

Mobile Value-added Services Market size surpassed USD 400 billion in 2016 and is predicted to grow at more than 15% CAGR till 2024. Increasing penetration of smartphones & tablets, fixed broadband subscriptions and number of active mobile broadband services are some of the factors driving the market demand globally.

Mobile value-added services (MVAS) enable mobile operators and aggregators to deliver multimedia and other value-added services to mobile subscribers. The market for mobile value-added services is expanding due to increasing application in education sector.

Currently, mobile phones have transcended from being a device used for playing music, text messaging, or voice calling, to a powerful utility and infotainment tool. From finding the nearest restaurant, paying bills, to receiving the up-to-date stock updates, the potential of mobile phones is seemingly boundless. Steep increase in the usage of social networking apps and mobile payments is helping support the mobile value-added services market size. Furthermore, rich communication services are expected to offer several opportunities to the industry stakeholders.

Rising demand for entertainment services on mobile handsets is also a key trend being witnessed in the market, thereby resulting into the development of key opportunities in on-demand music & video content, live TV shows & events and localized vernacular content. The entertainment services mainly consist of caller tunes, SMS based contests, and subscription-based alerts. With the decline in smartphone prices and the launch of LTE services, customers demand innovative and advanced forms of entertainment services.