The global mobile VAS market is currently valued at USD 393 billion and is expected to reach USD 761 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global mobile value-added services (VAS) market, under its machine-to-machine (M2M) and connected devices portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like America Movil, Apple, Comviva Technologies, and Google.
According to Sharan Raj, a lead analyst for M2M and connected devices research at Technavio, “The rising penetration of smartphones and other mobile devices is propelling the adoption of location-enables mobile VAS in the global market. Owing to the cost-effective nature of location-based advertising, many mobile advertisers are targeting smartphone users for the marketing of their products and services. For instance, the Friend Finder LBS application provided by Apple is one of the most downloaded and used applications in the US.”
LBS providers, such as GeoSolutions Holdings, Pelago, and Loopt, provide location-based mobile social networking services. These services enable users to share real-life experiences using geo-tagged and user-generated multimedia content. Furthermore, users are also provided with the ability to reach advertisers on their social networking sites based on their location.
Declining prices of mobile VAS
The escalating demand and intensifying competition among mobile VAS providers are resulting in a decline in the price of mobile VAS. Mobile OS providers and mobile VAS application developers in the market space are currently emphasizing on collaborating for the development of low-cost advanced mobile VAS applications or platforms for end-users. Furthermore, mobile commerce VAS is increasing the incomes of end-users.
Rapid adoption of smartphones
The sky-rocketing demand for smartphones in the global market is resulting in the introduction of the introduction of new smartphone models OEMs as well as the development of apps that are more complex as well as compelling. The rising adoption of smartphones and mobile devices is attributable to aspects such as diverse connectivity options and superior performance while accessing applications like e-mail or browsing the web. The increased adoption of smartphones and tablets during the forecast period is anticipated to translate into the demand for mobile VAS.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
Other related reports:
- Global Connected Car M2M Market 2017-2021
- Global Indoor Positioning and Indoor Navigation (IPIN) Market 2017-2021
- Global Smart Home M2M Market 2017-2021
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