Mobile Value-Added Services Market Size, Share, Growth Analysis, By Platform(Short Message Service, Interactive Voice and Video Response, Wireless Application Protocol, and Unstructured Supplementary Service Data), By Vertical(BFSI, Media and Entertainment, Healthcare, Education), By Application(Consumer, Enterprise, and Network Provider), By Region - Industry Forecast 2024-2031

Drivers

Rising Mobile Internet Usage

• Sales of smartphones and mobile phones in general have reached new heights in recent years and this trend has resulted in increased mobile data usage as well. This increasing demand for mobile data is slated to drive mobile value-added services market development in the future.

Launch of Innovative Value-Added Services

• Telecommunication providers are continually launching new and innovative mobile value-added services to attract more new customers and retain the existing ones. This is a key factor that will boost mobile value-added services demand outlook going forward.

Restraints

Regulatory Compliance

• Mobile value-added services providers will face multiple regulatory compliance issues and will have to comply with them all, this could mean sacrificing some functionality or reducing profits to a certain extent thereby slowing down mobile value-added services market growth.

Fragmentation of Mobile Ecosystems

• Mobile ecosystems have become diverse and to ensure proper working of all mobile value added services on all of them, market players will have to invest more in research and development that could hurt the profit margins. This is why a diverse mobile ecosystem could hurt mobile value-added services market development going forward.