U.S. MVAS industry to witness phenomenal gains over 2017-2024, surging demand from entertainment & media applications to drive the regional demand
Publisher : Fractovia | Published Date : 2017-06-08Request Sample
Introduction of high speed wireless communication services for mobiles and the rising internet popularity are expected to boost MVAS market value. The dynamic change in consumer lifestyles have led to the mounting usage of social media. In addition, the advent of the Internet and other related technological advancements have spurred the demand for mobile payments, which will further complement the growth of mobile values added services market. Strategies such as mergers & acquisitions implemented by the industry participants to expand their business will further support MVAS industry trends. In February 2017, Nuance Communications, a voice & speech recognition firm, acquired mCarbon, an Indian firm providing value added services to its customers, with an objective of expanding its business across the globe. This acquisition will help the former to enhance its brand presence across the regions such as Latin America, Asia, and Middle East Africa. According to Global Market Insights, Inc., “Mobile Value Added Services (MVAS) Industry size was assessed at USD 400 billion in 2016, is anticipated to surpass a revenue of USD 1300 billion by 2024.”
Dipping mobile device costs and fierce competition between the key industry players have resulted in a paradigm shift in the focus of the device manufacturers as well as the network operators toward mobile value-added services, thereby helping them to enhance their product portfolio and improve their market presence. Mounting use of 3G and 4G services by the end- users has helped the MVAS service providers to increase their consumer base, thereby accelerating MVAS industry development.
Europe MVAS Market Share, By Solution, 2016 & 2024 ($ Bn)
Owing to the technological breakthroughs, mobiles can favorably impact MVAS market, helping the users to check online bank account details, receive exam alerts, text messages, exchange information via SMS, play music, and use it as a tool to obtain vital information. Rising scope of mobile value-added services for online education & tutoring, entertainment, vocational training, mobile reading, infotainment, and language training will provide lucrative opportunities for the business.
Mobile value added services find varied applications across the telecom & IT, BFSI, government, entertainment & media, retail, education, and healthcare sectors. MVAS industry in the education sector is expected to witness exponential growth, driven by the extensive use of smartphones and tablets along with the ability of the service to improve the quality of education. Telecom applications are anticipated to make notable contributions towards MVAS market share, driven by escalating application of mobile value added services for spreading health awareness, diagnostic & medical treatment support, and ailment monitoring.
Taking into consideration the topographical trends, Asia Pacific MVAS industry is expected to witness a considerable expansion over the coming seven years, driven by favorable government legislations supporting the use of mobile devices along with surging demand for smartphones and iPhones as a result of large-scale mobile-to-mobile interaction between the consumers. South Korea, India, China, and Japan are the major regional revenue pockets for APAC MVAS market.
MVAS industry in Latin America is projected to experience a remarkable expansion over the years ahead with mobile operators providing internet coverage to the distant and untapped areas. Flourishing MVNO sector in the region along with a huge budget allocation for MVAS by various firms will further contribute towards the regional revenue. U.S. MVAS market, which accounted for more than 25% of North America MVAS industry revenue in 2016, is expected to observe a notable growth over the coming years. The growth is driven by escalated usage of new media coupled with the huge presence of reputed media participants such as Amazon, Netflix, Apple TV, Roku, and Hulu across the nation.
SMS, infotainment, MMS, mobile money, and instant messaging are the various types of mobile value added solutions. The thriving mobile money sector is projected to make substantial contributions towards MVAS market share, driven by the widespread demand for mobile value-added services such as mobile wallet, mobile banking, mobile remittance, and mobile payments.
MVAS business is forecast to provide profitable avenues for mobile application developers, telecom operators, mobile instrument manufacturers, and retailers. It will assist them in generating new revenue streams, fulfill end user requirements, and increase their customer base.
Huawei Technologies Company Limited, Guvera Limited, Gemalto N.V., AT&T Incorporation, Intersec Group, Opencode Systems Apple Incorporation, Saavn LLC, Baidu Incorporation, Etihad Etisalat Company, Tencent Holdings Limited, Nokia Corporation, KongZhong Corporation, ZTE Corporation, Samsung Electronics Company Limited, Alibaba Group Holding Limited, Google Incorporation, Vodafone Group plc, One97 Communications Limited, Sprint Corporation, and Mahindra Comviva are the key players of MVAS industry.
