Mobile Value Added Services Market Size Set for Continued Growth

growthAlthough the mobile value added services (MVAS) market size was valued at over $300 billion in 2015, we haven’t seen anything yet.

The market in question is now forecast to approach $700 billion in 2023, growing at a CAGR of 14%.

“The mobile value added services market size can be segregated on the basis of verticals, solutions, end-use, and regions,” explain the authors of a new industry report.

The report was released by GMInsights.

The prime verticals are telecom & IT, retail, media and entertainment, healthcare, government, education and BFSI. Key solutions include mobile infotainment, mobile advertising, location-based services, mobile money, multimedia messaging services, mobile email & IM and short message services. Enterprises and consumers are the two end-use segments.

According to a provide report summary, U.S. mobile VAS market size is expected to continue its dominance followed by Europe and Asia Pacific.

“Asia Pacific mobile value added services market share is likely to observe significant gains over the forecast period owing to increasing adoption of smartphones and tablets,” a provided report summary notes.

To learn more, check out the report’s table of contents here.