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Global Mobile Value-added Services Market to Experience Accelerating Growth by 2027, Due to Substantial Increase in the Usage of Mobile Applications and Mobile Web

A value-added service (VAS) is a common concept in the telecommunications industry for non-core services, or all services other than regular voice calls and fax transmissions. A mobile value-added service, in addition to voice communication services, is a feature that can be added to a core product and offered by mobile operators both by third-party mobile service providers and directly. Text messaging, missed call notifications, call routing, and call blocking, for example, are examples of mobile value-added features that are added to boost the user experience.

Impact of COVID-19 on the Industry

The coronavirus pandemic has triggered a chain of unimaginable events that have affected every industry. With the ongoing spread of the novel coronavirus pandemic, businesses around the world are increasingly flattening their recessionary curves by exploiting technology. Many companies will go through response, rehabilitation, and renewal phases. Building business resilience and enabling agility can help companies step through the COVID-19 crisis and towards the new normal. The global mobile value-added services market is witnessing a massive growth rate amidst the outbreak of the COVID-19 pandemic. The widespread spread of the COVID-19 pandemic is anticipated to have a positive effect on the mobile value-added services (VAS) market during the analysis period. Stay-at-home orders, for example, have introduced more consumers to apps that allow them to order takeout or groceries online, and when they do go to the store, more people are opting to pay with their phones rather than cash or credit cards. Furthermore, as a result of the contactless steps taken by government bodies to reduce the spread of coronavirus, mobile value-added services such as video calling services have increased.

Key Developments in the Industry

The key companies operating in the mobile value-added services market are adopting several growth strategies & business tactics such as mergers & acquisitions, collaborations, partnerships, and launches to maintain a strong position in the overall market, which is subsequently assisting the market to grow across the world.

For instance in March 2021, Logiq, Inc., a global provider of award-winning eCommerce and fintech solutions, joined forces with Comviva, a global leader in digital financial solutions, to offer digital wallet and payment services across Indonesia. The services based on Logiq’s PayLogiq digital wallet will be powered by Comviva’s mobiquity® Pay platform.

Moreover, in March 2021, Reliance Jio Infocomm Ltd (“RJIL”) announced that it has successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India.

Furthermore, in January 2021, Mobile TeleSystems PJSC, Russia’s largest mobile operator and a leading provider of media and digital services, and Vodafone Group PLC, a leading telecommunications company in Europe and Africa, announced the extension of the companies’ existing strategic partnership through to 2023. The new agreement further builds on the companies’ successful track record of close collaboration across procurement, marketing, and network operations that stretches back to 2008.

Analysis of Mobile Value-added Services Market

One of the major factors driving the growth of the mobile value-added services market is the increased use of mobile apps and mobile web. The growth of social networking apps and mobile payments is supporting the growth of the mobile value-added services market. Increasing demand for entertainment services on mobile software is another key trend that is being observed in the mobile value-added services market, resulting in the growth of online video content, localized vernacular content, and live TV shows and events.

The lack of guidelines and a regulatory framework for the various market players of mobile value-added services (MVAS) who are accountable for data privacy, consumer rights, and legal liabilities may limit users' access to and use of mobile value-added services. With the advancement of technology and new technologies, it is critical to protect data and knowledge. The primary problem that the mobile value-added service market faces is a lack of privacy issues. Furthermore, a lack of government initiatives and restricted user authentication methods for services involving the exchange of sensitive information, such as payments, may restrict the growth of the market.

The increased use of mobiles, smartphones, and tablets, as well as the industry rollout of technology such as 4G and 5G network networks, has provided major growth opportunities for mobile value-added services market. Furthermore, the latest COVID-19 pandemic has intensified digitization and remote activities and is expected to open up new avenues for value-added services. These factors are estimated to surge the growth of the mobile value-added services market, throughout the analysis period. As per a newly published report by Research Dive, the global mobile value-added services market is predicted to garner $1,464.1 billion by 2027. Geographically, Asia-Pacific market for mobile value-added services is estimated to dominate the global industry, owing to the growing prevalence of smartphones in emerging economies such as India and China.  The key players operating in the global industry include One97 Communication, Mozat, Alphabet Inc., Apple Inc., Comviva Technologies, Vodafone Group plc, Onmobile Global Limited, Samsung Electronics Co. Ltd., Huawei Investment & Holding Co. Ltd., and Reliance Industries Ltd.

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