According to a new report published by UnivDatos Markets Insights, the Mobile Value-Added Services Market is expected to grow at a CAGR of around 15% from 2022-2030. The analysis has been segmented into Solution (Short Messaging Service, Multimedia Messaging Service, Location-Based Services, Mobile Advertising, and Others); Industry (Banking Financial Services, Media Entertainment, Healthcare, Information Communication Technology, and Others); Region/Country.
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The mobile value-added services market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the mobile value-added services market. The mobile value-added services market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the mobile value-added services market at the global and regional levels.
Key Market Dynamics
The global market for mobile value-added services is profoundly affected by digitalization's rapid expansion. Mobile value-added services that provide cutting-edge digital solutions are in high demand due to the widespread use of mobile devices and the internet. Digital entertainment, mobile payments, and e-commerce are just a few examples of these services. In addition, new players such as artificial intelligence and virtual reality service providers have emerged as a result of the digitalization of the market for mobile value-added services. These service providers provide consumers and businesses with cutting-edge solutions. Additionally, there is a growing demand in the market for cloud-based services that are cost-effective, flexible, and scalable for businesses of all sizes. The development of 5G technology is anticipated to further accelerate the market for mobile value-added services, opening up new opportunities for service providers and making connectivity faster and more dependable. New services like augmented reality and self-driving cars, which require lower latency and more bandwidth, will be possible thanks to this technology. Changes in consumer preferences and behaviors are also driving the expansion of the mobile value-added services market, in addition to technological advancements. Buyers are progressively searching for advantageous, customized, and carefully determined arrangements that can smooth out and upgrade their everyday exercises.
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COVID-19 Impact
The COVID-19 pandemic has had a significant impact on the mobile value-added services market. As people were forced to stay at home due to lockdowns and social distancing measures, there was a significant increase in demand for mobile services such as online shopping, food delivery, and digital entertainment. This resulted in a surge in usage of mobile apps and services, especially those that offered contactless options. Further on, the pandemic also led to the adoption of remote work and online learning, which further boosted demand for mobile services.
The Global Mobile Value-Added Services Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on solution, the market is segmented into short messaging service, multimedia messaging service, location-based services, mobile advertising, and others. The short messaging service segment held a prominent share of the market in 2021 and is expected to grow at a prominent CAGR during the forecasted period owing to the cost-effectiveness and wider reach of short messaging services
· On the basis of industry, the market is categorized into banking financial services, media entertainment, healthcare, information communication technology, and others. Among these, the banking financial services segment is expected to grow at a robust CAGR during the forecast period
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Mobile Value-Added Services Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is expected to grow at a robust CAGR during the forecast period. A large and growing population, rising incomes, the adoption of digital technologies, and a young and tech-savvy consumer base are some of the most prominent factors driving the growth of the market. Further on, Asia-Pacific is known as a highly competitive mobile market with multiple players competing for market share. This leads to the development of innovative business models, pricing strategies and service offerings that further contribute to market growth.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the mobile value-added services market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
· In February 2023, NEC Corporation and its ecosystem partners A10 Networks, Adtran, Fortinet, and Juniper Networks launched the Value Added xHaul Solution Suite to accelerate the monetization of operators’ transport networks in the 5G era
· In July 2022, Deutsche Telekom and Google Cloud announced a newly expanded partnership to define a joint roadmap for the telecommunications industry by bringing the power of the cloud closer to mobile and connected devices at the edge of Deutsche Telekom's network
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the mobile value-added services market?
• Which factors are influencing the mobile value-added services market over the forecast period?
• What are the global challenges, threats, and risks in the mobile value-added services market?
• Which factors are propelling and restraining the mobile value-added services market?
• What are the demanding global regions of the mobile value-added services market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
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