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MVAS Market in SMS Segment is Excepted to Hold the Highest Industry Share by 2024

Author : Ronak Bora | Published Date : 2019-05-02 

The SMS segment is projected to hold the highest share in the MVAS market over the coming years owing to the lucrative opportunities it is providing to help generate sales and increase the business exposure. Success of SMS services can be attributed to its low price, simplicity, and reliability. Many businesses and companies, regardless of the industry domain, are implementing the use of SMS features for advertising purposes.

Global MVAS Market is expected to exceed USD 1,300 billion by 2024. It is accredited to the growing implementation of 3G services coupled with the introduction of 4G/5G LTE networks which is anticipated to provide a widespread array of growth prospects. Increasing usage of application-based services is expected to force mobile network operators & providers to advance distinct platforms for 3G, 4G and 5G networks.

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Mobile education segment in the MVAS market, is playing a significant role in expanding the quality and reach of education in Asia Pacific countries. The growth in smart devices market in the region is anticipated to offer an impetus to the education sector in South Asian countries. Currently, the education services are mostly restricted to IVR, SMS based English language learning & examination alerts, and on call tutor solutions, but with over the forecast timespan the MVAS market in Asia Pacific countries is anticipated to grow speedily.

Taking into consideration the geographical trends, Asia Pacific MVAS market is projected to experience a notable surge over the coming timeframe, driven by rising consumer trend towards the use of smartphones & tablets. The governments of the region have been undertaking efforts to spread awareness regarding the benefits of mobile usage and have been developing infrastructure for its effective use, thereby favorably influencing the industry growth across the region. China, South Korea, India, and Japan are forecast to be the major revenue pockets.

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U.S. industry, which accounted for more than 25% of MVAS market revenue in 2016, is expected to witness a notable growth in the future. The growth can be credited to the high presence of reputed digital media participants such as Netflix, Amazon, Roku, Apple TV, Hulu, and Boxee across the region.

Mobile value added services can be availed through mobile money, SMS (Short Message Service), Instant Messaging, infotainment, and MMS (Multimedia messaging service) solutions. Effective mobile banking, mobile remittance, and mobile wallet services, driven by high speed networks and low tariffs are expected to beneficially influence the growth of the mobile money sector, which will accelerate MVAS market revenue expansion.

Market players are trying to increase their profit margins and expand their geographical presence by adopting key business strategies such as mergers & acquisitions, new product development, strategic partnerships, product benchmarking, and joint ventures. Vodafone Group PLC Alibaba Group Holding Limited, Gemalto N.V., Mahindra Comviva, AT&T Incorporation, Baidu Incorporation, Nokia Corporation, Huawei Technologies Company Limited, KongZhong Corporation, Amazon, and Apple Incorporation are the key participants of MVAS market.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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