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Global Mobile Value-added Services (VAS) Market to Gain $1,464.1 Billion and Rise at a Growth Rate of 15.3% from 2020 to 2027 - Exclusive Report [229 pages] by Research Dive
Mobile value-added services (VAS) industry is enhancing during the coronavirus crises across the globe. Social distancing norms initiated by the government pushed people towards mobile VAS such as video calling, contactless payment methods, and online grocery shopping. Home quarantine and lockdown measures have augmented telecommunication services like VAS for people's entertainment and knowledge purposes. All these aspects are responsible for the market growth during the pandemic.
Rise in social networking applications such as Facebook and Hangouts is aiding the growth of the mobile VAS market worldwide during the estimated timeframe. Moreover, upsurge in the utilization of mobile web and applications for entertainment, gaming, and communication is anticipated to fuel the market growth. However, lack of privacy is a major challenge faced by the mobile VAS and this aspect is expected to hinder the market. Nevertheless, exponential rise in the digitization is likely to create promising opportunities in the market.
The report classifies the market into segments based on solution, end-user, vertical type, and region.
The Asia-Pacific region industry is estimated to surpass $455.8 billion by 2027, rising from a market share of $153.9 billion in 2019, at a CAGR of 14.9% during the forecasted years. The rising prevalence of smartphones in countries such as India and China is predicted to fuel the mobile VAS market in the estimated timeframe.
Some of the significant market players are
Market players prefer inorganic growth strategies to expand into local markets. Mobile value-added service market players are emphasizing more on merger & acquisition and advanced product development. For instance, in
April 2020 , Vodafone, a telecommunications company, launched introduced 3 new plans for is VAS. These plans are available for the
Mumbai circle only, costing INR 47, 67, and 78 and include validity benefits and caller tunes. -
Global Mobile Value-added Services Market to Experience Accelerating Growth by 2027, Due to Substantial Increase in the Usage of Mobile Applications and Mobile Web
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