The market for mobile value-added services was estimated to be worth $658.5 billion in 2021; by 2030, it is anticipated to have grown to $2,226.2 billion, with a CAGR of 14.2%.
Mobile Value-Added Services, or MVAS, are mobile services that mobile service providers offer in addition to voice communication services. The MVAS enables mobile subscribers to transmit Short Message Service (SMS), Multimedia Messaging Service (MMS), mobile email and instant messaging, mobile money, location-based services, mobile advertising, and mobile infotainment via smartphones and tablets for a range of non-voice uses.
Mobile value-added services are positioned by telecommunications providers as premium additions to their core offerings. These services frequently do more than just increase a product package’s capability. They are used to improve operational and administrative efficiencies for a variety of services. Additionally, they expand end-user functionality while gaining improved analytics and data for commercial use, which benefits both service providers and clients.
All the industries have been affected by the exceptional occurrences caused by the coronavirus epidemic. Organizations all across the world are gradually flattening their recessionary curve due to the emerging coronavirus outbreak by utilizing technology. There will be many business phases, including response, rehabilitation, and renewal. Building organizational agility and business resilience can help businesses get past the COVID-19 crisis and into the new normal. Due to the COVID-19 pandemic’s rapid spread, it is anticipated that the mobile value-added services (VAS) market will experience growth throughout the projection period.