According to a recent report by Reports and Data, the Mobile Value Added Services (MVAS) Market is predicted to reach USD 2,631.63 billion by 2030 and have a revenue Compound Annual Growth Rate (CAGR) of 15.1% over the forecast period. The market is expected to experience growth due to the increasing need for improved user experience, growing number of enterprise internet users, and expanding internet penetration. Increased internet usage can also create growth opportunities in key sectors such as education, healthcare, energy, and governance. The use of social media and networking sites generates vast amounts of information, leading to a rise in demand for the internet, driving the market’s revenue growth.
Technological advancements, including LTE and 5G technologies, are expected to provide faster internet access and facilitate the adoption of value-added services on mobile phones, leading to market growth. However, concerns regarding security and privacy may hinder the market’s revenue growth during the forecast period. The subscription price of MVAS is also increasing due to the growing demand in the mobile industry. Though MVAS offers several advantages, such as ease of use, safety, and cost-effectiveness, privacy issues and criminal activities may arise if MVAS are adopted on multiple devices. The availability of low-cost, open market location-based services increases the risk of criminal activity, which may also hamper the market’s revenue growth in the forecast period.
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The MVAS market has experienced significant growth due to the increasing need for improved user experience, rapidly increasing enterprise internet users, growing internet penetration, and technological advancements, including LTE and 5G technologies. However, concerns regarding security and privacy may hinder the market’s revenue growth in the forecast period. Despite this, the MVAS market continues to innovate and provide cost-effective and efficient solutions to various industries, driving its growth and expanding its reach globally.
Driving factors of Mobile Value Added Services (MVAS) Market
- Increasing need for improved user experience
- Rapidly increasing enterprise internet users
- Growing internet penetration
- Rapidly growing urbanization and IT infrastructure
- Favorable government and business policies
- Use of internet to create significant growth in key sectors such as education, healthcare, energy, and governance
- Social media applications and social networking sites generating large volumes of information
- Technological advancements, including LTE and 5G technologies
- Faster internet speeds
- Facilitation of the adoption of value-added services on mobile phones
Some of the notable innovations in the Mobile Value Added Services (MVAS) Market
- Mobile payments and banking services
- Mobile advertising and marketing solutions
- Location-based services (LBS) for navigation and advertising
- Mobile gaming and entertainment services
- Mobile health and wellness solutions
- Mobile ticketing and travel services
- Cloud-based mobile services
- Mobile social networking and communication platforms
- Mobile-based education and learning solutions
- Mobile-based customer service and support solutions.
Some of the major companies included in the global market
Apple, Inc., Google LLC, ATT, Inc., Kongzhong Corporation, Sangoma Technologies Corporation, OnMobile Global, Ltd., Symsoft AB, StreamWIDE SA, Comviva Technologies, Ltd., and One97 Communications, Ltd.
To know more about the report @ https://www.reportsanddata.com/report-detail/mobile-value-added-services-mvas-market
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