Author: Vikas Kumar
03 June 2023
The Asia-PacificMobile Value-Added Services Market is growing rapidly. Factors such as increasing mobile penetration, growing smartphone adoption, improving mobile internet infrastructure, rising demand for digital services, and innovation and competition are contributing to the growth of this market in the region. The rising number of mobile phone users is one of the most prominent factors contributing to the increasing demand for mobile value-added services in the region. The Asia Pacific region has one of the largest and fastest-growing mobile phone user bases in the world, and as more people gain access to mobile phones, the demand for value-added services is also increasing. For instance, according to the GSM Association (GSMA), by 2025, over 333 million people across the APAC region will start using mobile internet for the first time, taking the penetration rate to 52% of the population. In addition, smartphone use has significantly increased in the region in recent years. More people are switching from feature phones to smartphones as a result of the affordability of smartphones. This has prompted flood popularity for portable applications and other worth-added administrations that are well-defined for cell phones. Additionally, mobile internet infrastructure has improved over time in the Asia-Pacific region. People are more likely to use mobile value-added services that require a strong internet connection when mobile networks are faster and more dependable. In addition, the region is home to a number of cutting-edge businesses that are constantly introducing brand-new mobile value-added services. The rising contest in the market is compelling organizations to offer better administrations and more alluring evaluating, which is further pushing the interest for portable worth-added administrations.
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APAC Mobile Value-Added Services Market Revenue (2020-2030) – USD Mn
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. Further, the rise of smartphones and mobile internet also contributed to the growth of this segment.
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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. The growth of this segment can be attributed to the convenience, accessibility, affordability, and security that it offers to both customers and banks.
Global Mobile Value-Added Services Market Segmentation
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