Kenneth Research, in its repository of market research reports, have recently added a report on Indian Mobile Value-Added Services (MVAS) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Indian Mobile Value-Added Services (MVAS) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Indian Mobile Value-Added Services (MVAS) Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The Indian Mobile Value-Added Services Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2023, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.
The Indian Mobile Value-Added Services (MVAS) Market revenue is expected to reach $23.8 billion by 2020, growing at a CAGR of 18.3%
Rising internet and mobile subscriber base, availability of improved quality handsets at affordable rates, M-commerce, mobile entertainment services are few growth propellants of VAS.
A global market research and consulting company, has published a study titled “Indian Mobile Value-Added Services (MVAS) Market in India: Drivers, Restraints, Opportunities, Trends, and Forecasts to 2020”.
The unparalleled internet penetration in India in the last decade has largely been possible due to the superior services offered by telecom operators at competitive rates. The telecom market of India has experienced a gigantic revolution in the past 10 years with subscribers switching to smartphones. The earlier popular value-added services (VAS) such as short message service, astrology updates, news alerts and weather updates have been replaced by sophisticated applications in response to the consumer’s changing needs.
Consumer VAS and Enterprise VAS segment would be the major contributors to the growth of the Mobile VAS Market of India.
Consumer VAS is expected to grow at a faster rate in comparison to enterprise VAS. However, the lack of promotions and proper usage will hinder market growth.
Mobile-Commerce, Mobile-Governance, Mobile-Health and Mobile-Education will have huge promise in the Indian VAS market.
The Indian Mobile Value-Added Services (MVAS) Market is segmented and analyzed by users, delivery platforms, verticals, VAS types and regions.
Healthcare, education, banking, government and commercial enterprises are the major end user verticals. These sectors invest heavily on mobile platforms and are a key source of revenue for service providers.
The key market players are CanvasM Technologies, Comviva Technologies, IMImobile Pvt. Ltd., and OnMobile Global. The report also talks about the companies to watch for such as Mobile2Win and Value First Digital Media.
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• The report covers drivers, restraints and opportunities (DRO) affecting the market growth over the forecast years (2016–2022)
• The report provides information related to latest industry and market trends, key stakeholders, industry pest analysis, Porter’s Five Forces analysis and competitive landscape
• The report covers competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations and competitor comparison analysis
• It includes implementation, opportunities and adoption rate of MVAS in various industries
• The report includes an end user analysis based on an end-user survey which was successfully conducted.
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