WILMINGTON, DE, UNITED STATES, May 2, 2024 /EINPresswire.com/ -- The mobile value-added services market was valued at $658.5 billion in 2021, and is estimated to reach $2226.2 billion by 2030, growing at a CAGR of 14.2% from 2022 to 2030.
Rising demand for mobile phones, increase in mobile application usage, and advancements in telecommunication sector have led to an increase in the demand for mobile value-added services, contributing to the mobile value-added services market growth in the upcoming years.
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In the telecommunications sector, Value-Added Services (VAS) are considered non-core offerings beyond basic voice services, aiming to enhance user experience and create additional revenue streams for telecom operators. Mobile Value-Added Services (MVAS) specifically refer to digital services provided over mobile networks, excluding traditional voice services, often offered in collaboration with content providers or through joint ventures.
MVAS plays a crucial role in telecom operators' strategies for differentiation, enabling them to offer innovative services that cater to evolving consumer needs and preferences. These services extend the functionality of mobile devices, providing users with a diverse range of digital experiences beyond voice calls.
Mobile Value-Added Services represents a significant opportunity for telecom operators to generate additional revenue beyond traditional voice services, thereby diversifying their revenue streams and enhancing profitability.
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The Mobile Value-Added Services market is characterized by ongoing innovation and the introduction of new mobile applications and digital services, such as social media applications, Over-the-Top (OTT) platform services, mobile banking, and more. This constant evolution drives demand and keeps consumers engaged.
The revenue-sharing model in the Mobile Value-Added Services ecosystem can be complex and biased, with telecom operators sharing revenue with various contributors such as content providers and platform owners. This can pose challenges for operators in negotiating fair revenue-sharing agreements and maximizing profitability.
The lack of technical capability and security measures to safeguard customers' data are significant obstacles in the Mobile Value-Added Services market. Ensuring the privacy and security of user data is paramount, and operators must invest in robust technical infrastructure and cybersecurity measures to address these concerns.
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While Mobile Value-Added Services present lucrative opportunities for telecom operators to drive revenue growth and enhance customer experience, addressing challenges such as revenue-sharing models and security concerns is essential to unlocking the full potential of the Mobile Value-Added Services Market and ensuring sustainable growth in the future.
The key players profiled in the mobile value-added services industry report include Mozat, Apple Inc., Vodafone Group plc, Samsung Electronics Co. Ltd., Reliance Industries Ltd., Huawei Investment & Holding Co. Ltd., Onmobile Global Limited, Comviva Technologies, Alphabet Inc., and One97 Communication.
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